Adeona Pharmaceuticals (AEN) Announces Possible Name Change, Appoints John Monahan Senior VP of R&D

Adeona Pharmaceuticals, Inc. (NYSE: AEN) announced today that the Board of Directors has taken several actions to prioritize the Company's focus on its recent entry into the emerging field of synthetic biology. As previously announced on November 22, 2011, the Company and Intrexon Corporationae entered into a worldwide exclusive channel collaboration for the development and commercialization of a synthetic DNA-based therapy to treat pulmonary arterial hypertension.

Today's announcements are the result of the Company's new primary focus and include the following changes approved by the Board:

• A proposed name change of the Company to Synthetic Biologics, Inc., to better reflect its new mission and primary business, subject to the filing of necessary regulatory documents and stockholder approval.
  
• The recruitment and appointment of John Monahan, Ph.D., as the Company's Senior Vice President of Research & Development.

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