Privately owned TransDermal Technologies Inc. (TTI) began operations in 1990
by developing Penetran®, a product conceived by its founder, Kenneth B. Kirby.
Penetran was based on a patent which the company in-licensed. Through the
mid-to-late 1990s, TTI began researching transdermal drug delivery technologies,
culminating in the development and patenting of its Transdermal Delivery System
(TDS®) platform technology.

In the mid-1990s, the Company first began efforts to develop its own portfolio
of TDS®-enhanced drugs with the objective of out-licensing them to major
pharmaceutical marketers. For much of the late 1990s, TTI expanded the marketing
for Penetran+Plus® and worked on other new products employing the TDS® technology.

Since the issuance of the Company’s first patents in September 2002, TTI has begun
collaborating under contract with the research divisions of several pharmaceutical
companies to explore potential TDS®-enhanced versions of their proprietary
compounds. Today, TTI focuses its efforts on developing and commercializing
major-market potential TDS®-enhanced compounds.