Aires Pharmaceuticals, Inc.

Aires Pharmaceuticals, Inc. is an early stage, venture-funded company founded in December 2006 by ProQuest Investments focused on the development of drugs to treat pulmonary disorders. As a first product opportunity, the Company is developing an inhaled drug that has been demonstrated in animal models to treat both adult and pediatric pulmonary hypertension. As a second product opportunity, Aires is also pursuing indications associated with the treatment of bacterial pulmonary infections. Clinical trials in pulmonary hypertension are planned to initiate in Q2 2008.

Aires has been selected by the National Institutes of Health as the exclusive licensee of intellectual property that protects the use of our drug to treat cardiopulmonary diseases. Intellectual property protecting indications associated with the treatment of bacterial pulmonary infections was licensed from the University of Cincinnati.