CORRECTING and REPLACING Chemizon Announces a Second Expansion of Collaboration with...

CORRECTING and REPLACING Chemizon Announces a Second Expansion of Collaboration with Takeda

LONGMONT, Colo.--(Business Wire)--
Second graph, third sentence of release dated April 16, 2008
should read: "With this strategic partnership, we anticipate working
with Takeda in leveraging our integrated Discovery Platform." (sted
"With our recently announced strategic partnership in the area of
Oncology, we anticipate working with our partners and leveraging our
integrated Discovery Platform.").

The corrected release reads:

CHEMIZON ANNOUNCES A SECOND EXPANSION OF COLLABORATION WITH TAKEDA

Chemizon, a division of Optomagic Co. Ltd.(KOSDAQ:010170),
announced today that Takeda Pharmaceutical Company Limited has agreed
to continue and further expand its current research collaboration that
utilizes Chemizon's Discovery Platform. The expansion is effective as
of April 1, 2008.

"We are pleased that Takeda has decided to further expand its
partnership with Chemizon," said Dr. Tony Piscopio, Chairman and CEO
of Optomagic. "We look forward to a long and mutually beneficial
relationship. With this strategic partnership, we anticipate working
with Takeda in leveraging our integrated Discovery Platform."

About Chemizon:

Chemizon is a rapidly growing drug discovery services organization
with operations in South Korea, China and the United States. Our goal
is to become the partner of choice for Pharmaceutical and Biotech
companies seeking to enhance their product pipelines. Our experienced,
repatriated management team and skilled scientists use the Chemizon
Discovery Platform to help our partners enhance their product
pipelines in an efficient, cost effective manner. For more information
on Chemizon, please visit our website at www.chemizon.com.

About Takeda Pharmaceutical Company Limited:

Located in Osaka, Japan, Takeda is a research-based global company
with its main focus on pharmaceuticals. As the largest pharmaceutical
company in Japan and one of the global leaders of the industry, Takeda
is committed to striving toward better health for individuals and
progress in medicine by developing superior pharmaceutical products.
Additional information about Takeda is available through its corporate
website, www.takeda.com.

Forward-looking statements

This press release may contain certain "forward-looking
statements" regarding the agreement between Chemizon and Takeda
Pharmaceutical Company Limited. These statements are based on
Chemizon's current expectations and involve risks and uncertainties,
which may cause results to differ materially from those set forth in
the statements. The forward-looking statements may include statements
regarding product development, collaboration potential or financial
performance. None of the forward-looking statements are guaranteed,
and actual results may differ materially from those projected.
Chemizon may choose to update this notice in the future, based on new
information, future events, or otherwise, but undertakes no obligation
to do so. Forward-looking statements in this press release should be
evaluated together with the many uncertainties that affect Chemizon's
business, including, but not limited to, the health of the global life
sciences industry, the growth of the outsourcing business model and
the ability of Chemizon to derive value from successful
collaborations.

Chemizon
Ramesh Subramanian, 856-637-2232
VP, Business Development
sramesh@chemizon.com

Copyright Business Wire 2008