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Adamis Pharmaceuticals was founded in 2006 with the strategic objective of buiding a publicly-held company that combines the development of highly-valued proprietary biopharmaceutical products with the financial stability of a company producing immediate revenues. This concept was born out of the perception that the combination makes sense financially, operationally, and may be highly valued by financial markets. The intent of Adamis is to grow its operating businesses to the point that within a few years they will be able to generate sufficient free cash flow to support the development of the biopharmaceutical products. Adamis is organized as a holding company with two wholly owned subsidiaries.

Adamis Laboratories is a specialty pharmaceutical company. Adamis Labs has a sales force and a small base of established prescription products that provide the foundation for rapid growth driven by new products. Three new products are currently under development, the first of which is targeted for release in the fourth quarter of 2008 with the next following about 16 months later.

Adamis Viral Therapies is focused on developing patented vaccine technology that has the potential to provide protection against a number of different viral infectious agents. The first target is avian influenza. Avian flu is a particularly good initial clinical application because there is a large potential demand and the time to commercialization is relatively short, because is falls under bio-defense. Adamis hopes to initial clinical trials in the United States within the next 12-18 months and to be able to fully commercialize the anti-viral technology in about four years. Subsequent disease targets may include therapeutic vaccines for Hepatitis C and Human Papilloma Virus (HPV).