SURFACE LOGIX INC. NAMED A RED HERRING 100 WINNER

Award Recognizes the 100 Private Technology Firms in North America Driving the Future of Technology

BOSTON, Mass. (May 22, 2006) – Surface Logix Inc. today announced that it has been selected as a winner of the annual “Red Herring 100 North America” award by Red Herring magazine. This list of 100 privately held companies in North America recognizes those that play a leading role in innovating the technology business. To view the full list, please visit www.redherring.com.

Disruptive technologies and business plans

“With venture capital flowing again, we’re seeing a lot of innovative new companies taking on the established players with disruptive technologies and innovative business plans,” said Joel Dreyfuss, Editor-in-Chief of Red Herring. “The Red Herring 100 North America companies, among them Surface Logix, are pushing and breaking the boundaries of the technology business and we are excited to report on their success stories.”

 “We are extremely excited to be selected as one of the top 100 privately held companies in technology by Red Herring.  Using our proprietary chemistry platform, we have been able to develop and progress two new drugs into clinical trials in two years and anticipate having a third by the end of this year,” notes Jim Mahoney, President and CEO of Surface Logix.  

Mahoney continued, “Our lead drug, SLx-2101, is a rapid onset, potent long acting PDE5 inhibitor that has been developed for both acute and chronic cardiovascular indications.  Preliminary data from our Phase 1Ia trial study shows that this drug is working at 48 hours after a single oral dose of 10mg.  The rapid onset and long duration ofSLx-2101 suggests that it could well become the new gold standard for treating PDE-5 related disorders.  Our second compound, SLx-4090 is a novel Microsomal Triglyceride Transfer Protein (MTP) inhibitor being developed for the treatment of dyslipidemia and obesity.  We designed SLx-4090 using our proprietary platform to act specifically in the enterocytes, cells that line the GI tract, to prevent the transport of triglycerides through the intestinal wall. SLx-4090 is currently in a Phase 1 trial and preliminary data indicate the compound is safe, well-tolerated and acting preferentially in the gut thereby lowering post-meal triglyceride levels in normal healthy volunteers.”

More than just buzz

Red Herring’s lists of top private companies are an important part of the renowned magazine’s tradition of identifying new and innovative technology firms and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as some that would change the way we live and work.

After receiving more than 1,000 submissions and nominations, Red Herring’s editorial staff rigorously evaluated Surface Logix and the other contenders through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. The Red Herring 100 North America companies are at the forefront of the technologies that are changing our lives in profound ways.

About Surface Logix Inc.

Surface Logix Inc. uses its expertise in biophysical chemistry to create new small molecule drugs that are optimized to meet the challenges of human physiology. The Company is advancing multiple internal programs focused primarily on cardiovascular disease, oncology and metabolic disorders and works with strategic partners to create differentiated new chemical entities. 

About Red Herring Spring 2006

Red Herring Spring 2006 will assemble 300 of the continent’s most innovative and successful CEOs, investors, and corporate developers and feature a dynamic group of over 100 speakers that are pushing and breaking the boundaries of the business of technology. Themed “The Pursuit of Disruption,” it will be held May 23-25 in Monterey, California. Please contact Michael Felber at 650.428.2900 or email mfelber@redherring.com to request an invitation to attend the event. More information is available online at www.herringevents.com/rhspring06.

About Red Herring Magazine

Red Herring magazine is a sophisticated insider's guide to the business of technology, featuring unparalleled insights on the emerging technologies driving the economy, from the Internet to wireless communications and digital entertainment. Red Herring's journalists report on how innovation and entrepreneurship are transforming business and how the business of technology is transforming the world, providing readers with a deep understanding of venture capital and capital markets. Recognized as an essential resource in today's fast-changing business world, Red Herring gets the right answers before anyone else even thinks to ask the questions. More information on Red Herring is available on the Internet at www.redherring.com.

Surface Logix contacts:
David H. Donabedian, Ph.D.
Vice President, Business Development
617.746.8520

Media:
Kari Watson
MacDougall Biomedical Communications Inc.
kwatson@macbiocom.com
508.647.0209

Red Herring Spring contact: Michael Felber, mfelber@redherring.com
Media Relations contact: Xenia von Wedel, xenia@terpin.com