ENHANCE BIOTECH INC
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<FILENAME>v05944_ex10-1.txt
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NEW YORK, Aug. 12, 2004 (PRIMEZONE) -- Bioaccelerate, Inc. , a pharmaceutical
development organisation has today announced that one of its portfolio
companies, Enhance Biotech Inc (Pink Sheets:EBOI), a developer of a portfolio of
products focused on lifestyle drugs, has signed a definitive merger agreement
with Ardent Pharmaceuticals Inc., the world's leader in discovering and
developing delta receptor compounds. Ardent Pharmaceuticals, based in North
Carolina's Research Triangle, is a privately held biotechnology company with an
extensive research and development pipeline that includes a number of
pre-clinical and clinical candidates in the areas of moderate to severe pain,
urinary incontinence, premature ejaculation, depression and cardio protection.

Under the terms of the agreement, Enhance shareholders will retain fifty-five
percent of the stock in the merged entity, which will continue under the name of
Enhance Biotech. Ardent shareholders will acquire forty five percent of the
stock. Chris Every, Enhance Biotech's CEO, will continue as the CEO of the
combined entity. Phillip Wise, Ardent Pharmaceuticals' Chief Financial Officer
and VP Business Development, will assume of the role of CFO. Ken Chang, current
Chairman and founder of Ardent will assume the post of Chief Science Officer and
President Asia Pacific Operations. A new board of directors will be formed
including members from the existing boards of the two companies plus a number of
newly elected independent members. The Company's operational headquarters will
be located in North Carolina with corporate offices in New York and London.



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