Press Room


    Press Release - March 20, 2006

    Pheromone Sciences Signs Joint Venture Agreement for New Research Project

    Kelowna, B.C. -- Pheromone Sciences Corp. ("Pheromone") is pleased to announce it has completed its due diligence review of the Sertoli Technologies Inc. ("Sertoli") patents and has entered into a joint venture agreement to finance the development of the project with Sertonex, Inc. of London Ontario, as previously announced on October 11, 2005. Pheromone has the exclusive right to acquire, in stages, 100% of the project by providing funding of up to $3,500,000 in three stages. As each stage of the project is financed, Pheromone has the right to acquire one third of the project by issuing 2,315,000 shares.

    As part of the agreement, Sertoli will exclusively license to Pheromone all patents, and patent applications for the therapeutic use of Sertoli cell technology. In exchange, Pheromone will issue to Sertoli 6,527,500 common shares upon completion of the first project financing of not less than $1 million and nine months after closing pay Sertoli a licensing fee of $1,142,312 in cash or shares.

    To fund the first stage of the project, Pheromone anticipates an initial financing of $2 million through a non- brokered private placement of units at $0.40 for one common share and one half warrant exercisable at $0.60 for two years. A finders fee of 7% will be paid and Pheromone will reserve the right to force the exercise of the warrants if the stock trades at a 10 day moving average above $1.00 per share.

    About Sertoli

    Sertoli Technologies Inc. is a cellular therapy company with platform technology for creating a local immunoprivileged site enabling the therapeutic transplantation of cells and cell-based gene therapy. Sertoli has a comprehensive patent portfolio covering the application of Sertoli cells. Patent applications are filed worldwide in all major markets, including the United States, Europe and Japan. Six U.S. patents have issued containing broad claims that protect the use and application of the Company's technology. The Company is aggressive in the filing of additional patents covering additional therapeutic uses of Sertoli cells and factors derived from Sertoli cells.

    Additional Information on Sertoli is available on its website at

    Pheromone Sciences Corp. is a biotechnology and medical diagnostics device research and development company that focuses on commercializing medical technologies. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

    ON BEHALF OF THE BOARD "Dev Randhawa" Dev Randhawa, President

    For further information contact: TEL: (250) 868-8177 Mr. Phil Morehouse FAX: (250) 868-8493 Pheromone Sciences Corp.

    TEL: (519) 639-7867 Mr. Justin Leushner FAX: (519) 858-5142 Sertonex Inc.

    TEL: (520) 748-4458 Ms. Jan McCoy Hutchinson FAX: (520) 748-0025 Sertoli Technologies Inc.


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