Neal G. Koller
President & Chief Executive Officer

    3724a Thomas Point Road
    Annapolis, Maryland  21403
    USA
    Tel:  +1 443 994 0101
    Fax:  +1 410 990 9817
    nkoller@plurogen.com
PluroGen Therapeutics, Inc.
503 Broadleaf Way
Charlottesville, Virginia  22911
USA
Tel:  +1 443 994 0101
Fax:  +1 410 990 9817
www.plurogen.com
December 18, 2006


Dear Investor:

We hope everything is well and you are heading into a very happy holiday season.

Thank you for your investment and trust in PluroGen™.  As a result of your commitment, we have been able to achieve
the following significant milestones since the company’s incorporation at the end of January 2006.

  • Completed Business Plan, 1st round Offering Memorandum Package & 1st Amendment to the Offering
  • Completed Support Documentation for Business Plan & Offering Memorandum
  • Hired world class President & CEO, Neal Koller
  • Contracted world class VP Medical & Scientific Affairs, Glenn Warden, MD, MBA, FACS
    o  A globally Recognized Burn Surgeon & Medical Researcher
  • Assembled Industry Expert Commercial Advisory Board
  • Assembled World Class Scientific Advisory Board
  • Raised $1.45M
  • Contracted Global R&D /Regulatory /Clinical Trial Partner (& Investor) - Cato Research, Inc. (13 offices
    worldwide)
    o Drafted Product Regulatory, Clinical & Manufacturing Plan
    o Completed 1st Meeting with FDA – October 5, 2006
    -     Confirmed strategy for fast-track Regulatory Path
    -     FDA agreed PluroGen is ready for Phase III clinical trial for our 1st product
  • Launched Web Site
  • Located R&D Space & Began Search for Potential R&D Personnel
  • Hired Accounting Firm
  • Hired Law Firm
  • Hired Intellectual Property Firm
    o  Expansion of Patent Portfolio Underway
  • Initiated Discussions with Potential Commercial Partners
  • Signed agreement with Globally Recognized Contract Manufacturing Partner
    o  Manufacturing Scale & Compliance with FDA Requirements Underway

We have moved the company forward and achieved much in a very short period of time.  Thank you for your support.

In a separate letter we will provide you with an update on fund raising.  Should you have any questions or want to talk
please let us know.  Thank you again for your continued support.  We will keep you posted on our progress in 2007.

Happy holidays.

Neal G. Koller

NGK/sa