THE WISTAR INSTITUTE SELLS PARTIAL ROYALTY INTEREST IN MERCK'S ROTATEQ TO THE PAUL ROYALTY FUND

The Wistar Institute today announced that it has sold a portion of its anticipated worldwide royalty revenues from ROTATEQ to an affiliate of the Paul Royalty Fund for $45 million. ROTATEQ is a new Merck & Co., Inc., vaccine to prevent rotavirus infection, a highly contagious virus that is the most common cause of severe dehydrating diarrhea in infants and young children. On Wednesday, December 14, 2005, the Food and Drug Administration's Vaccines Advisory Committee unanimously agreed that clinical data from 70,000 infant Phase 3 trials supported the efficacy and safety of ROTATEQ.

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