CordenPharma Acquires Ancora Pharmaceuticals' Technology

Ancora Pharmaceuticals Inc., a leading carbohydrate synthesis company, CordenPharma International US Inc., an expert contract manufacturing organization (CMO), and Harris & Harris Group, Inc. (NASDAQ: TINY), an investor in transformative companies enabled by disruptive science, announce CordenPharma's acquisition of Ancora Pharmaceuticals' technology. The acquisition will provide CordenPharma with important capacity in the growing market of synthetic carbohydrates.

“We are excited for Ancora to join CordenPharma, which will expand Ancora’s chemistry expertise into an organization that can provide scale and cGMP manufacturing of complex synthetic carbohydrates,” said Dr. Misti Ushio, Chairperson of Ancora Pharmaceuticals.

“Together, Ancora and CordenPharma are equipped to provide a full range of carbohydrate synthesis and production needs, from early stage discovery research through to commercial cGMP manufacturing, at any scale,” said Dr. Christian Ewers, Chief Operating Officer of CordenPharma’s API business.

11T Partners advised Ancora in the transaction.

Ancora Pharmaceuticals is a leading carbohydrate synthesis company. Ancora provides the solution to the long-standing obstacle to carbohydrate-based therapeutic development, which has been economical access to pure and defined carbohydrate structures. Medicinal chemistry and lead optimization programs also require the ability to generate derivatives of the core molecule and reproducible production of product in quantity in a time-sensitive and cost-effective manner. Ancora is answering all these challenges directly by developing and exploiting a robust technology platform and capability. For more information about Ancora visit www.ancorapharma.com .

CordenPharma is the pharmaceutical brand of International Chemical Investors Group. Formed in 2006, CordenPharma is a full-service partner for cGMP Contract Development & Manufacturing (CDMO) of oral, sterile, highly potent and antibiotic pharmaceutical Drug Products and associated Packaging Services. In APIs, CordenPharma is a leading CDMO service provider in chiral synthesis and other advanced APIs. They additionally produce specialized pharmaceutical ingredients such as peptides, synthetic lipids, carbohydrates and highly potent APIs. For more information about CordenPharma visit www.cordenpharma.com .

Harris & Harris Group, Inc. (NASDAQ: TINY) is an investor in transformative companies enabled by disruptive science. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com and on Facebook at www.facebook.com/harrisharrisvc .

Copyright Business Wire 2010

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