CyDex Announces Captisol Technology Used in Injection Formulation of Veterinary Anti-Emetic Cerenia(R) (Maropitant) Recently Approved for Marketing in Europe

CyDex, Inc., a specialty pharmaceutical company developing
improved products through innovative drug delivery, today announced
that a subcutaneous injection formulation of the veterinary
anti-emetic medication Cerenia(R) (maropitant) from Pfizer Limited
contains CyDex's Captisol(R)-enabling technology.

On September 29, 2006, the European Medicines Agency approved both
the subcutaneous injection and tablet formulations of Pfizer's Cerenia
for marketing throughout the European Union. Cerenia for Injection is
used in dogs to prevent vomiting and treat vomiting such as that
caused by chemotherapy.

Cerenia for Injection is the fourth drug formulation utilizing
Captisol to receive marketing approval. The other three
Captisol-enabled drugs currently are commercially available. These
include Geodon IM and Vfend IV, marketed globally by Pfizer Inc., and
ABILIFY Injection marketed in the United States by Bristol-Myers
Squibb and Otsuka Pharmaceutical Co.

CyDex's patented Captisol technology improves water solubility,
bioavailability and complexation characteristics of insoluble and/or
unstable drugs. In addition to injectable products, the CyDex pipeline
of licensed and proprietary Captisol-enabled formulations targets a
range of market segments including oral solutions and capsules,
ophthalmic solutions, oral solids and inhalation.

"Pfizer's launch of Cerenia for Injection further illustrates the
power of Captisol as an agent for improving aqueous solubility and
thus enabling new dosage forms that can both broaden and lengthen the
sales revenue stream for new drugs," said CyDex Chief Executive
Officer John M. Seibert. "CyDex's pharmaceutical industry partners
recognize that Captisol can serve as a valuable tool for drug
lifecycle management, and we are working toward additional product
launches by an expanding roster of partners in future years."

About CyDex, Inc.

CyDex is a specialty pharmaceutical company developing proprietary
products and licensing its Captisol(R)-enabling technology. CyDex is
bringing important new medications to patients by developing its own
pipeline of proprietary products with advanced drug delivery
solutions, and by partnering with the world's leading pharmaceutical
and biotechnology companies. In addition to Cerenia(R) for Injection,
the commercially available pharmaceuticals enabled by Captisol include
Geodon IM and Vfend IV, marketed globally by Pfizer Inc., and ABILIFY
Injection marketed in the United States by Bristol-Myers Squibb and
Otsuka Pharmaceutical Co., Ltd., CyDex has development agreements with
Allergan, Inc.; Bristol-Myers Squibb; Daiichi Asubio Pharma Co., Ltd.,
of Japan; Merck & Co., Inc.; Mitsubishi Corporation, of Japan; OSI
Pharmaceuticals, Inc.; PTC Pharma AG, of Switzerland; TargeGen, Inc.;
Taisho Pharmaceuticals of Japan and Teva Pharmaceutical Industries
Ltd., of Israel. CyDex also has clinical use agreements with major
pharma and biotech companies. CyDex is a privately held company
located in suburban Kansas City. To learn more about the company,
please visit www.cydexinc.com.

Captisol and Captisol-enabled are registered trademarks of CyDex,
Inc. Cerenia, Geodon IM and Vfend IV are registered trademarks of
Pfizer Inc. ABILIFY is a registered trademark of Otsuka Pharmaceutical
Co., Ltd.