Press Releases & Company News

Ordinary and extraordinary assembly at BioXell

Lainate , Italy – 29 March 2010 – BioXell S.p.A. (SIX Swiss Exchange: BXLN), majority owned by Cosmo Pharmaceuticals S.p.A. (SIX Swiss Exchange: COPN), announced that at the ordinary and extraordinary shareholders' meeting held on 29 March 2010, shareholders unanimously approved:

• changes to the Articles of Association, with resolutions to reduce the number of directors to 2 (two), to move the headquarters to Lainate, Milan, via Colombo, 1 and to simplify the corporate governance;
• request of delisting of company's shares on SIX Swiss Stock Exchange and cessation of external auditing requirements;
• appointment of the new Board of Directors and of Statutory Auditors;
• postponement of the approval of 2009 Statutory Financial Statements to June 24, 2010, pending a series of decisions on the future of the Company, including its potential liquidation.

The meeting was attended by one shareholder, who represented 98.96% of the total share capital of the Company.

For further information, please contact:
BioXell S.p.A.
Dr. Chris Tanner
Tel.: +39 02 9333 7617
Fax: +39 02 9333 7663
E-mail: Chris.Tanner@cosmopharmaceuticals.com

About Cosmo Pharmaceuticals
Cosmo is a speciality pharmaceutical company that aims to become a global leader in the field of optimized therapies for selected Gastrointestinal and topically treated Skin Disorders. The company's proprietary clinical development pipeline specifically addresses innovative treatments for IBD, such as Ulcerative Colitis and Crohn's Disease, and Colon Infections. In addition, the Company is developing a new chemical entity for the topical treatment of Acne, Alopecia and Hirsutism. Cosmo's first MMX^® product that has reached the market is Lialda^®/Mezavant^®/Mesavancol^®, a treatment for IBD that is licensed globally to Giuliani and Shire Limited. Cosmo's proprietary MMX^® technology is at the core of the Company's product pipeline and was developed from its expertise in formulating and manufacturing gastrointestinal drugs for international clients at its GMP (Good Manufacturing Practice) facilities in Lainate, Italy. The technology is designed to deliver active ingredients in a targeted manner in the intestines. For further information on Cosmo, please visit the Company's website: www.cosmopharmaceuticals.com

Disclaimer
This document does not constitute, or form part of, any offer to purchase or sell any shares or other securities and neither it nor any part of it shall form the basis of, or be relied upon in connection with any contract or commitment whatsoever. Any decision to tender shares must be based on the official offer documents. This document does also not constitute a pre-announcement or an offering prospectus pursuant to Swiss laws or any other laws.

This press release does not constitute or form part, or all, of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor shall part, or all, of these materials or their distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities.

Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Cosmo undertakes no obligation to publicly update or revise any forward-looking statements.