April 2005 Arakis and Vectura Announce Agreement on New Therapy for Respiratory Disease Arakis' Rheumatoid Arthritis Drug Completes Phase II Trial September 2004 Arakis Closes £29 ($52) Million Third Round Financing June 2004 Arakis Announce Start of Phase IIa Trial for Rheumatoid Arthritis Drug under US IND Regulatory Authorisation May 2004 Arakis and Vectura Announce Positive Data from Phase IIa Trial of COPD Drug March 2004 Arakis Acquires AD 923 for Cancer Breakthrough Pain August 2003 Arakis and Vectura Announce Phase IIa Trial for COPD Drug April 2003 Arakis Announces First Human Trial for Rheumatoid Arthritis Drug April 2002 Arakis Closes £16 Million Second Round Financing November 2000 Arakis and Vectura Collaborate to Develop a Novel Inhaled Treatment for COPD August 2000 Arakis Raises £4 Million In Venture Capital Funding to Progress Product Developments