Lod, Israel, May 1, 2006 - TransPharma-Medical Ltd., the Israeli-based biopharmaceutical company that develops pharmaceutical products utilizing its unique transdermal RF-MicroChannels™ transdermal drug delivery technology , announces today it has received its first milestone payment from Teva Pharmaceuticals for successfully completing the first clinical trials, based on a joint development agreement originally signed between the two companies in 2004.

The milestone achieved is in line with the product development plan of the drug molecule, which is the first of up to five molecules designated for development by TransPharma and Teva in the 2004 agreement.

Under the agreement, Teva will, exclusively market each of the drug-products and will pay TransPharma milestone payments, royalties, and development costs. The development process will continue to be carried out in close cooperation between the two companies.

"This first milestone achieved is proof of the great strides TransPharma has taken on the way to full development of its unique drug-products," said Daphna Heffetz, CEO of TransPharma. "It is a vote of confidence by a world leader in pharmaceutical development, manufacturing, and marketing," she adds, "and it is evidence of the great potential inherent in our unique transdermal technology."

In the coming years, TransPharma will continue working closely with Teva on the development of the specified molecules, as well as planning to ally with other companies for developing additional drug-products. In parallel to its allied products, TransPharma is developing its own proprietary product pipeline.

About TransPharma
Established in 2000, TransPharma Medical Ltd. is a biopharmaceutical company focusing on transdermal delivery, bringing to market technologies that increase the portfolio of drugs delivered via a patch. TransPharma has developed a unique and clinically proven transdermal drug delivery system, ViaDerm™. The system is based on TransPharma's RF-MicroChannels™ technology which creates microscopic passageways through the outer layer of the skin allowing for therapeutic administration of a wide variety of drugs from a patch. Currently, available systems are limited to delivery of small-size drug molecules. ViaDerm™ overcomes these limits, enabling delivery of a large variety of drugs including proteins in a pain-free, low-cost, user friendly manner. The system was successfully tested in clinical studies, using both small molecules and large molecules. For more information, visit the company's website at www.transpharma-medical.com.

For more information please contact:
Judith Kornfeld
Vice President of Business Development
judithk@transpharma.co.il
Office: +972-8-9152201

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