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NPS Pharma and VIMAC Ventures locate at MaRS, a major new research and enterprise center in Toronto

TORONTO May 17, 2004 Salt Lake City-based NPS Pharmaceuticals and Boston-based VIMAC Ventures announced today that they plan to locate key business and research facilities to the new MaRS (Medical and Related Sciences) Discovery District biosciences research and commercialization hub in downtown Toronto. These firms have selected MaRS as the ideal global destination to pursue research and commercial opportunities in the fast-emerging medical and related technology fields.

MaRS Centre will become the primary location for NPS's research and development activities in Canada while VIMAC, a venture capital firm active in biosciences, will establish a business office in the center for the firm's VIMAC Milestone Medica Fund.

To date, 12 organizations have signed agreements to lease almost 600,000 square feet of the 700,000 square feet available in Phase One of MaRS Centre, including CMDF (Canadian Medical Discoveries Fund), the Hospital for Sick Children, MDS Inc. (MDS Sciex Division), RBC Technology Ventures Inc., RBC Financial Group, University Health Network and the Blueprint Initiative.

"With its proximity to some of the leading minds and institutions in Toronto's bioscience cluster, MaRS is the perfect site for our drug research and development work in Canada," says Dr. Hunter Jackson, Chairman, President and CEO of NPS. "Our presence at MaRS underscores our commitment to research and development in Canada and the importance of this new facility to our future business success."

NPS will initially move approximately 70 researchers into a wet lab facility at MaRS, with plans to add another 50 scientists over time. The company has been mining a wealth of research from the Toronto area for many years.

VIMAC chose MaRS to expand the firm's North American reach because it provides one of the most dynamic opportunities for investment in biosciences, according to Dana Ono, Managing Director, VIMAC Milestone Medica Fund.

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