PROTALEX (PRTX) develops biopharmaceutical drugs for autoimmune and inflammatory diseases. The Company's lead product is PRTX-100. The autoimmune diseases initially targeted by the Company are pemphigus and rheumatoid arthritis (RA). In autoimmune disease models, PRTX-100, which is a natural compound, has reversed the pathologic process resulting in a restoration and maintenance of normal healthy tissue. Pre-clinical safety studies for PRTX-100 are being conducted and so far no evidence of abnormal clinical reactions or toxicity has been observed. As of May 31, 2005, the Company has no product on the market. On March 4, 2005, the Company filed an investigative new drug (IND) application for PRTX-100 with the United States Food and Drug Administration (FDA).