Scott Johnson President and Founder

March 15, 2007

I hope you can take a few minutes to review our latest research progress update. We are especially excited by the promise of Steve Miller’s (Northwestern University) and Ben Barres’s (Stanford University) work on a new combinatorial therapy that targets myelin repair and the body’s autoimmune system. This is only one of several experiments that are bringing us closer to achieving our goal of licensing a single myelin repair drug target to a biotech or pharmaceutical company by 2009.

We are also pleased about the work we are undertaking to validate the team’s discoveries in preparation for their introduction to potential biopharma partners. This is where the gap between the academic and commercial worlds is most profound and where further clinical development is often stalled. The translation of academic discoveries into drug discoveries is being undertaken at MRF by Dr. Jay Tung, our new Vice President of Drug Discovery. Dr. Tung brings to MRF more than 16 years of experience with the drug discovery process from both the biotech and pharmaceutical sectors including at such companies as Eli Lilly and Athena Neurosciences. Most recently he served as Senior Director and Head of the Chemistry Department at Elan Pharmaceuticals where he worked on developing therapeutics for a variety of neurological diseases. We are pleased to have him fill this critical role on our team.

While we enjoy keeping our supporters current on our research progress, I would also like to take this opportunity to update you on the progress of our fundraising. Obviously without success there, our research efforts will not bear fruit. As many of you know, the budget for our five-year myelin repair program is $25 million. Through the generosity of our supporters, we have raised $16 million of the required funds. In order to continue our high-level of funding to the labs, we must raise another $9 million before the end of 2007. As always, we continue to look to our supporters for financial support as well as help in connecting us to others who may have an interest in our work. Please continue to help us in this way. If you have not already requested a copy of our free DVD, please do so by writing to info@myelnrepair.org. Then watch the DVD and share it with your friends and family. The more who are aware of our work, the more likely we are to meet those who can support us financially.

Thank you for your continued interest in MRF.

Sincerely,
Scott Johnson
President and Founder