SAN DIEGO – May 15, 2006 – Verus Pharmaceuticals, Inc., a pediatric-oriented specialty pharmaceutical company, today announced a partnership with The Food Allergy & Anaphylaxis Network (FAAN) to offer patients a free six-month membership to FAAN with every new Twinject® prescription. More than 12 million American children and adults have food allergies and face the potential of anaphylaxis, a severe, life-threatening systemic allergic reaction that may be triggered by exposure to peanuts, milk products or shellfish, among other triggers. Twinject, a novel epinephrine auto-injector indicated for the emergency treatment of severe allergic reactions, is the only available product approved by the FDA that contains two doses of epinephrine in a single, compact device.

"The incidence of food allergies has risen sharply in recent years, resulting in the need to reach out to as many patients and families as possible," said Anne Muñoz-Furlong, FAAN Chief Executive Officer and Founder. "Diagnosis of severe food allergies changes every aspect of family life. FAAN can help these families cope with the changes, learn how to avoid future anaphylactic episodes, and be fully prepared to address the unpredictable nature of any future episodes."

"The intramuscular injection of epinephrine is considered the treatment of choice for anaphylaxis," stated Myron J. Zitt, M.D., Immediate Past President of the American College of Allergy, Asthma & Immunology and Vice President - Research for the Asthma and Allergy Foundation of America. "The need for additional epinephrine cannot be predicted in advance and recent studies indicate that a second dose may be required in as many as 35 percent of patients with anaphylaxis. Newly diagnosed patients and their families have significant issues to confront and the fear of anaphylaxis is very real to them. Verus’ Twinject provides the additional security of having two inseparable doses of epinephrine in a single, compact device."

"Food allergy is the major cause of anaphylaxis outside of a hospital setting. For at-risk patients, leading a normal, fulfilling lifestyle is not just a function of being fully prepared and confident in their ability to treat the full range of potential future reactions, it also is about learning how to prevent these attacks," said Robert W. Keith, President and Chief Operating Officer of Verus Pharmaceuticals. "We are 100 percent committed to FAAN’s mission to provide information, education and advocacy. It is for this reason that we are underwriting memberships to FAAN for patients receiving a new prescription for Twinject. We hope this initiative helps at-risk patients learn more about the benefits of belonging to FAAN, the world leader in food allergy information."

To take advantage of this offer, anaphylaxis patients should contact their allergist or call Verus’ medical information line at 1-888-TWINJCT (1-888-894-6528).

About FAAN

Founded in 1991, The Food Allergy & Anaphylaxis Network (FAAN) is a nonprofit organization based in Fairfax, VA, dedicated to increasing public awareness about food allergy and anaphylaxis, to providing education, and to advancing research on behalf of all those affected by food allergies. The organization has just under 30,000 members in the United States, Canada, and 62 other countries. Educational materials and information about special programs are also available online at www.foodallergy.org, www.fankids.org, and www.faanteen.org

About Anaphylaxis

Anaphylaxis is a severe, life-threatening systemic reaction triggered by exposure to one or more various antigens, including foods, insect stings, drugs, and latex products. Up to 43 million people in the U.S. alone are at risk for anaphylactic episodes, and underlying incidence rates are expected to continue increasing in future years. Up to eight percent of children have food allergies, with sensitivities to peanuts and tree nuts among children having doubled in the past five years. The timing, location, pattern (including onset, severity and length) and specific treatment requirements for each future episode cannot be predicted in advance. As such, all at-risk patients need to be fully prepared at all times for these unpredictable episodes.

About Twinject

Twinject Auto-Injector (epinephrine injection, USP 1:1000) is the only available product approved by the FDA that contains two doses of epinephrine in a single, compact device. This is an important feature, as published studies demonstrate that more than one dose of epinephrine may be required for approximately one in three patients to properly address the allergic reaction, with the second dose often needed within 5-10 minutes after the first. Furthermore, a recent study demonstrated that only 16% of patients carry two single-dose auto-injectors at all times. More information about anaphylaxis and Twinject is available on Verus’ Twinject website at www.twinject.com

About Verus

Verus Pharmaceuticals is dedicated to improving the lives of children and those who care for them. Verus is building a portfolio of products for the unmet medical needs of children through acquisitions and alliances, with an initial focus on the treatment of asthma, allergies, and related diseases and conditions. Verus is differentiated by its pediatric orientation and its strong financial position and experienced management team, which allows the company to capitalize on an extensive network to build its product portfolio and pursue complementary transactions. The company’s rigorous, disciplined approach to strategic decision-making and core competencies in development and commercialization is expected to provide significant value to its partners. More information about Verus is available on the company’s corporate website at www.veruspharm.com

Verus™ and Twinject® are trademarks of Verus Pharmaceuticals, Inc.

Forward-Looking Statements

Verus Pharmaceuticals cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Verus that any of its plans will be achieved. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in Verus’ business including, without limitation, statements about: its ability to identify appropriate acquisition, licensing, or co-development and/or promotion candidates in the future or be able to take advantage of the opportunities it identifies; difficulties or delays in developing, obtaining regulatory approval, manufacturing and commercializing its products; unexpected performance or side effects of its products that could delay or prevent development or commercialization, or that could result in recalls or product liability claims; the scope and validity of patent protection for its products; competition from other pharmaceutical companies; and its ability to obtain additional financing to support its operations. All forward-looking statements are qualified in their entirety by this cautionary statement and Verus undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.