Research to focus on novel agricultural chemicals with new modes of action

MIDLAND, MICHIGAN and MORRISVILLE, NORTH CAROLINA – Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), and Viamet Pharmaceuticals, Inc. have entered into a crop protection research, option, and license agreement to evaluate the potential use of Metallophile™ Technology to develop novel agricultural chemicals with new modes of action.

Under terms of the agreement, Viamet will utilize its proprietary Metallophile™ Technology, and Dow AgroSciences will employ its proprietary compound screening and product development capabilities, to discover and develop product candidates against priority targets in the crop protection field.

“We are excited to partner with a proven pioneer in novel technology,” stated Dan Kittle, Ph.D., R&D Vice President for Dow AgroSciences. “Viamet has demonstrated success in developing markedly improved inhibitors of large and commercially-validated classes of enzymes in the pharmaceutical arena. This collaboration with Viamet and its Metallophile™ Technology will accelerate the development of new agricultural chemistry and bring new robust solutions to the agricultural market and farmers around the world.”

The alliance with Dow AgroSciences is a further demonstration of the broad and varied application of Viamet’s Metallophile Technology in varied fields and industries.

“Partnering with Dow AgroSciences on this program provides Viamet with the opportunity to expand the Metallophile™ Technology beyond our current market opportunities,” commented Robert Schotzinger, M.D., Ph.D., President and Chief Executive Officer of Viamet. “Dow AgroSciences is the perfect partner to help us solve a significant problem faced throughout the world, namely crop loss. Safety and efficacy are the cornerstone for all of our human therapeutic programs and will certainly be a primary focus as we work with Dow AgroSciences on this important endeavor.”

Financial terms of the agreement were not disclosed.

About Viamet Pharmaceuticals, Inc.

Viamet discovers and develops novel inhibitors of key metalloenzymes via an innovative and proprietary metal-binding approach, the Metallophile™ Technology. Viamet’s disruptive Metallophile™ Technology is based on its world-class expertise in bioinorganic chemistry and metalloenzymes and allows Viamet to identify metalloenzyme targets with high therapeutic and commercial potential, leverage existing metalloenzyme inhibitors as the basis for its novel analogs, and rapidly and cost-effectively generate superior compounds by optimizing the metal-binding component of existing inhibitors. Viamet is based in the Research Triangle Park region of North Carolina, USA.

About Dow AgroSciences

Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company providing innovative agrochemical and biotechnology solutions globally. The company, a wholly owned subsidiary of The Dow Chemical Company, has sales of $4.5 billion. Learn more at www.dowagro.com

About The Dow Chemical Company

Dow combines the power of science and technology with the “Human Element” to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world’s most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow’s diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2009, Dow had annual sales of $45 billion and employed approximately 52,000 people worldwide. The Company’s more than 5,000 products are manufactured at 214 sites in 37 countries across the globe. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com