Mesothelioma

In the fourth calendar quarter of 2007, the Company plans to test whether AmpTide(TM) interferes with the tumor-promoting activity of matriptase.

Such interference may be useful in the treatment of a variety of cancers, including WntTide for Osteoporosis In November 2006, the Company licensed Mesd from Washington University, St.

Louis, for the treatment of osteoporosis and cancer.

In the second half of calendar 2007, the Company will be testing the ability of Mesd and engineered Mesd-based peptides, which we call WntTide, acting through LRP5, a known determinant of bone density, to combat osteoporosis and increase bone density in a preclinical study.

Appointment of The Ruth Group as Investor Relations Firm Effective April 1, 2007, the Company appointed the New York-based investor relations firm, The Ruth Group, headed by Carol Ruth, a 39-year veteran in the investor relations field.

"We are excited to be working with a highly-regarded firm such as The Ruth Group, to help expand our investor and public outreach and be an advisor on our strategic planning team," said Kim Tsuchimoto, the Company's Chief Financial Officer.

Other Updates The Company continues to make progress with building its intellectual property portfolio.

Raptor currently has five patent applications in review...

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