Viamet Pharmaceuticals Secures $18 Million Financing

Company to Advance Development of Novel Metalloenzyme Inhibitors and Proprietary
Metallophile Technology Platform
RESEARCH TRIANGLE PARK, N.C.--(Business Wire)--
Viamet Pharmaceuticals, Inc. announced today that it has secured $18 million in
a Series B financing to accelerate the development of its novel metalloenzyme
inhibitors and to advance its Metallophile Technology platform. The proprietary
Metallophile Technology is based on Viamet`s world-class expertise in
bioinorganic chemistry and metalloenzymes and allows Viamet to rapidly and
cost-effectively generate "best-in-class", novel compounds by optimizing the
metal-binding component of existing metalloenzyme inhibitors. The investment was
led by the Novartis Option Fund and Lilly Ventures and also included Viamet`s
existing investors Intersouth Partners, Hatteras Venture Partners, Lurie
Investment Fund, and Astellas Venture Management. As part of the closing of the
financing, Lauren Silverman, Ph.D., Managing Director of the Novartis Option
Fund and Ed Torres, Managing Director, Lilly Ventures, have joined Viamet`s
board of directors.

"We are very pleased that the Novartis Option Fund and Lilly Ventures have
elected to invest in Viamet. Their interest in our pipeline programs and
Metallophile Technology is truly gratifying," said Robert Schotzinger, M.D.,
Ph.D., President and Chief Executive Officer of Viamet. "Both the Novartis
Option Fund and Lilly Ventures share a common vision with us and our current
investors that the Metallophile Technology platform will significantly improve
many existing inhibitors of key metalloenzymes through enhanced safety, efficacy
and pharmacokinetics."

Lauren Silverman, Ph.D. commented, "We believe that Viamet`s Metallophile
Technology has the potential to dramatically improve the selectivity of existing
metalloenzyme inhibitors leading to reduced off-target toxicities and
improvements in the therapeutic index of this important class of drugs. The
strength of the technology and team at Viamet was particularly attractive to us
and we are excited to be part of their effort moving forward."

Ed Torres added, "Metalloenzymes are well-recognized targets for therapeutic
intervention. Viamet`s Metallophile Technology represents a paradigm shift that
has the potential to deliver markedly improved inhibitors of this large and
commercially validated class of enzymes. Lilly Ventures invests in companies
with promising technologies that have the potential to generate multiple,
"best-in-class" products and we believe that Viamet represents just such an
opportunity."

About Viamet Pharmaceuticals, Inc.

Viamet discovers and develops novel inhibitors of key metalloenzymes via an
innovative and proprietary metal-binding approach, the Metallophile Technology.
Viamet`s disruptive Metallophile Technology is based on its world-class
expertise in bioinorganic chemistry and metalloenzymes and allows Viamet to
identify validated metalloenzyme targets with high therapeutic and commercial
potential, leverage existing metalloenzyme inhibitors as the basis for its novel
analogs, and rapidly and cost-effectively generate superior compounds by
optimizing the metal-binding component of existing inhibitors. Viamet is based
in the Research Triangle Park region of North Carolina.

About the Novartis Option Fund

The Novartis Option Fund is a $200 million fund that is part of the Novartis
Venture Funds. Established in 1996, the Novartis Venture Funds currently manage
over $650 million in committed capital and is invested in more than 50 private
companies. The objective of the Novartis Option Fund is to seed innovative
companies through initial and follow on investments. The initial investment is
coupled with an option to a specific therapeutic program providing early
validation for the company`s technology by a larger pharmaceutical partner. The
Novartis Venture Funds` team of eight investment professionals located in Basel,
Switzerland and Cambridge, Massachusetts, brings together extensive expertise in
the biotech and pharmaceutical industry and venture capital.

About Lilly Ventures

Lilly Ventures is a venture capital subsidiary of Eli Lilly and Company and
manages $200 million in committed capital, investing in start-up
biopharmaceutical and medical technology companies in early through expansion
stage investments. The primary goal of Lilly Ventures is to facilitate the
success of companies with innovative technologies by providing both financial
and intellectual resources to accelerate the management teams` path to success.

Viamet Pharmaceuticals, Inc.
Robert Schotzinger, M.D., Ph.D.
President & CEO
919-467-8539

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