Retrophin Signs Exclusivity Agreement with Major Pharmaceutical Company to Negotiate License to a Product to be Developed for Autism and Schizophrenia

Retrophin, Inc.

today announced that it has signed an agreement with a major pharmaceutical company for the exclusive right to negotiate a royalty-bearing U.S. license for a product to be developed for the treatment of Autism and Schizophrenia. Pursuant to the exclusivity agreement, Retrophin paid the major pharmaceutical company a non-refundable upfront fee and will have an exclusive period of 120 days to negotiate a license agreement. Upon execution of a license agreement, Retrophin would receive the exclusive right to the intellectual property to develop, manufacture and sell the product in the United States and would pay an additional fee to the major pharmaceutical company. Commenting on today's news, Martin Shkreli, Founder, President and Chief