Loures, Portugal, June 8th, 2011 – Hovione and Particle Sciences Inc (PSI) have today announced a collaboration agreement under which they will pool their technologies together to significantly speed development projects targeting poorly water soluble drugs. The companies expect to jointly be able to significantly reduce typical project times.

Hovione and PSI are joining their solid solution technologies based on spray-drying capabilities and aimed at targeting ways to maximize the bioavailability of BCS Class II active pharmaceutical ingredients. Development will be fast-tracked at both companies, with PSI developing the solubilization process and resulting drug product for their clients and Hovione managing the scale-up and industrialization of the spray drying process.

Dave Hoffman, President, Hovione US Operations, said “It is truly incredible how versatile and useful spray-drying technology is. We have used it from a gram scale to tons, with important time savings on the scale-up to manufacture products where other technologies failed. Teaming up with PSI will give their customers an integrated solution which will allow us to go from drug product and process design to feasibility and development to industrial application in record time”.

According to Mark Mitchnick, Particle Sciences’ CEO, “We have a variety of drug delivery platforms, some of which are best scaled through spray drying. Our unique contribution is to develop products that maximize clinical effect, and after that Hovione takes over with their technological and industrial expertise and regulatory compliance. We will really be able to save our clients quite a lot of time.”

Hovione is an international company with over 50 years’ experience in Active Pharmaceutical Ingredient development and compliant manufacture. With four FDA inspected sites in the U.S., China, Ireland, and Portugal, the company focuses on the most demanding customers, in the most regulated markets. The company also offers integrated API, particle design and formulation development and manufacturing. In the inhalation area, Hovione is the only independent company offering such a broad range of services.

Particle Sciences Inc is an integrated provider of drug development services. Particle Sciences utilizes a broad suite of drug delivery technologies to address a diverse range of challenges. With special expertise in particulate based formulations and drug/device combination products Particle Sciences has become a leader in drug delivery development. Through a full range of formulation, analytic, bioanalytic, and sterile and non-sterile manufacturing services, Particle Sciences provides pharmaceutical companies with a complete and seamless development solution that minimizes the time and risk between discovery and the clinic. The company was founded in 1991 and is headquartered in Bethlehem, Pennsylvania.

For more information about Hovione

visit www.hovione.com  or contact Isabel Pina, Marketing & Communication, at + 351 21 982 9362 ipina@hovione.com

For more information about PSI

visit www.particlesciences.com  or contact Maureen Cochran at (610) 861- 4701mcochran@particlesciences.com