Pro-Pharmaceuticals, Inc. is a development-stage company engaged in the discovery and development of carbohydrate-based therapeutics. The Company’s therapeutics is used in treatment of liver, microbial and inflammatory diseases. All of its products were in development, including pre-clinical and clinical trials during the year ended December 31, 2008. The Company focuses on the development of a new generation of anti-cancer treatments using carbohydrate polymers to increase survival and improve the quality of life for cancer patients. Its principal pipeline candidate, DAVANAT, is a chemical entity that is in Phase II trials for first-line treatment of colorectal and biliary cancer. In September 2008, the Company submitted a clinical and pre-clinical package to the United States Food and Drug Administration (FDA) in support of its DAVANAT New Drug Application (NDA).