DOR BioPharma Executes Letter of Intent for Acquisition of Gastrotech

Gastrotech Pharma A/S has announced that DOR BioPharma, Inc. has signed a binding letter of intent to acquire Gastrotech Pharma A/S. Gastrotech develops therapeutics based on peptide hormones to treat cancer and gastrointestinal, GI, diseases and conditions.

Following the close of this acquisition, DOR's pipeline will be bolstered by the addition of two Phase II programs: GTP-010, an analogue of glucagon-like peptide-1, GLP-1, and GTP-200, Gastrotech's wild type ghrelin compound, a naturally occurring peptide hormone produced in the stomach to stimulate appetite.

In connection with the closing of this acquisition, DOR will issue the stockholders of Gastrotech EUR 7,7 million in shares of DOR common stock priced at the 10-day volume weighted average price immediately prior to the close of the transaction. In addition, DOR will pay Gastrotech shareholders another EUR 25,6 million in cash or stock upon the occurrence of a series of developmental, regulatory and commercial milestones, EUR 17 million of which are payable in connection with first product sales of EUR 42,7 million and EUR 170,7 million in any calendar year.

The companies intend the acquisition to include the transfer to DOR of Gastrotech's ongoing clinical programs as well as all intellectual property and facilities. This acquisition will be concluded pursuant to the execution of definitive documents and must be approved by a majority of DOR BioPharma's shareholders.

For further information contact:

Dr. Hans Schambye,

CEO,

Tel: +45 33 44 42 42

Email: info@gastrotechpharma.com

Or visit: www.gastrotechpharma.com