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Current Report
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<DIV>&nbsp;</DIV>
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align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><STRONG>UNITED
STATES</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><STRONG>SECURITIES
AND EXCHANGE COMMISSION</STRONG></FONT></DIV>
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style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><STRONG>Washington,
D.C. 20549</STRONG></FONT></DIV>
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style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><STRONG><BR></STRONG></FONT>&nbsp;<FONT
style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><STRONG>FORM
8-K</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><STRONG>CURRENT
REPORT</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Pursuant
to Section 13&nbsp;or 15(d) of the Securities and Exchange Act of
1934</STRONG></FONT></DIV>
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style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Date
of Report (Date of earliest event reported): August 16, 2005</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><STRONG>FERMAVIR
PHARMACEUTICALS, INC.</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in its charter)</FONT></DIV>
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style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
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    <TD width="6%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top align=middle
    width="26%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><STRONG>Florida</STRONG></FONT></TD>
    <TD style="BORDER-BOTTOM: #ffffff solid" width="5%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top align=middle
    width="26%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;<STRONG>333-116480</STRONG></FONT></TD>
    <TD style="BORDER-BOTTOM: #ffffff solid" width="5%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top align=middle
    width="26%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><STRONG>16-1639902</STRONG></FONT></TD>
    <TD width="6%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR>
  <TR>
    <TD width="6%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="26%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(State
      </FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">of
      I</FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">ncorporation)</FONT></DIV></TD>
    <TD width="5%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="26%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(Commission
      File Number)</FONT></DIV></TD>
    <TD width="5%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="26%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(IRS
      Employer Identification No.<STRONG>)</STRONG></FONT></DIV></TD>
    <TD width="6%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV
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align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
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align=left><FONT
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<DIV></FONT></DIV></DIV></FONT></DIV>
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  <TR>
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      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top align=left
    width="60%" colSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">420
      Lexington Avenue</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=center>New York, New York 10170</DIV></FONT></DIV></TD>
    <TD width="20%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR>
  <TR>
    <TD width="20%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="60%"
    colSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(Address
      of Principal Executive Offices)</FONT></DIV></TD>
    <TD width="20%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
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align=center>
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align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">
<DIV><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">
<DIV></FONT></DIV></DIV></FONT></DIV>
<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD width="30%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top align=left
    width="40%" colSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(212)
      375-2630</FONT></DIV></TD>
    <TD width="30%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR>
  <TR>
    <TD width="30%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="40%"
    colSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(Registrant&#8217;s
      telephone number, including area code)</FONT></DIV></TD>
    <TD width="30%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV></DIV></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"
size=2></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">
<DIV><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">
<DIV></FONT></DIV></DIV></FONT></DIV>
<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD width="25%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top align=left
    width="50%" colSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Venus
      Beauty Supply, Inc.</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center>31-51 Steinway Street</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center>Long Island City, NY 11103</DIV></TD>
    <TD width="25%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR>
  <TR>
    <TD width="25%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="50%"
    colSpan=3>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(former
      name or former address, if changed since last report)</FONT></DIV></TD>
    <TD width="25%"><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"></FONT></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=left></FONT>&nbsp;</DIV></DIV>
<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT
      face=Wingdings>o</FONT></FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="95%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="95%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT
      face=Wingdings>o</FONT></FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="95%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="95%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT
      face=Wingdings>o</FONT></FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="95%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="95%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="5%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT
      face=Wingdings>o</FONT></FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top width="95%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)) </FONT></DIV></TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<DIV>
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style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
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style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
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align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><EM></EM></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><EM>The
information in this report gives effect to a corporate name change and 35.28 for
one stock split which are contained in an amendment to our articles of
incorporation which was filed with the Florida Secretary of State on August 17,
2005 and becomes effective on August 22, 2005.</EM></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center>
<DIV>
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style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
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align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Section 1
- Registrants Business and Operations</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item 1.01&nbsp; </TD>
    <TD width="89%"><U>Entry into a Material Definitive
Agreement</U></TD></TR></TABLE></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On August
16, 2006 we adopted the FermaVir Pharmaceuticals, Inc. 2005 Equity Compensation
Incentive Plan (the &#8220;Equity Plan&#8221;) by consent of our then sole director and
consent of more than a majority of our outstanding shares. The Equity Plan
authorizes the granting of incentive stock options within the meaning of Section
422 of the Internal Revenue Code of 1986, as amended, non-statutory options and
restricted stock awards with respect to up to 7,500,000 shares of our common
stock. Additional information concerning the Equity Plan, outstanding options
and the terms of outstanding options is set forth in Item 5.01 of this report
and is incorporated herein by reference.</FONT></DIV></DIV></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In
connection with the completion of the acquisition of assets described in
response to Item 2.01 of this report, we entered into a stock Repurchase
Agreement, Consulting Agreement and Management Rights Agreement, the material
terms of which are set forth in response to Items 2.01, 2.03 and 5.01 of this
report and information required to be disclosed in response to this Item is
incorporated by reference to such disclosure.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Section 2
- Financial Information</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item 2.01&nbsp; </TD>
    <TD width="89%"><U>Completion of Acquisition or Disposition of
    Assets</U></TD></TR></TABLE></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Introduction</FONT></DIV></DIV></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On August
16, 2005, we acquired all of the outstanding shares of FermaVir Research, Inc.,
a Delaware corporation (&#8220;FermaVir Research&#8221;) pursuant to a Securities Exchange
Agreement dated August 11, 2005, between us and the shareholders of FermaVir
Research (the &#8220;Exchange Agreement&#8221;), completed a redemption of outstanding
shares, closed on a private placement of securities and took action to split our
outstanding common stock and changed our name to &#8220;FermaVir Pharmaceuticals,
Inc.&#8221;.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
Transactions</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">We issued
1,829,000 shares of our restricted common stock in exchange for all of the
outstanding shares of capital stock of FermaVir Research and issued 1,850,000
options under our newly adopted Equity Plan in satisfaction of options that were
outstanding to purchase shares of FermaVir Research. Simultaneously with the
acquisition, we sold 2,825,000 shares of our common stock and 423,750 five year
warrants to 17 accredited investors for $2,118,390 in a private placement. In
addition, we redeemed the now equivalent of 67,680,000 shares of our common
stock from Panetta Partners, Inc., a principal shareholder for $750,000 ($0.011
per share), of which $350,000 was paid by our issuance of a 6% unsecured
promissory note due November 15, 2005. The promissory note is due with interest
on November 15, 2005 and</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">2</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">requires
prepayment of principal from the net proceeds received by us from the sale of
securities or borrowings. The note contains standard acceleration provisions
which may require us to pay the full principal balance of the note in the event
of insolvency, bankruptcy or our failure to comply with material agreements
between us and the note holder and its affiliates. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
shares issued for the acquisition and private placement, after the repurchase of
stock, constitute approximately 57% of our outstanding common
stock.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">FermaVir
Research is a development stage biotechnology company that has licensed patents
on a series of compounds for the treatment of viral diseases including compounds
for the treatment of varicella zoster virus (&#8220;VZV&#8221;), the causative agent for
shingles and chickenpox and human cytomegalovirus (&#8220;CMV&#8221;), a member of the
herpes virus group which includes the viruses that cause chicken pox,
mononucleosis, herpes labialis (cold sores) and genitalis (genital herpes).
FermaVir Research has performed preclinical studies on its compounds and has
selected a clinical candidate for development for the treatment of shingles.
FermaVir Research&#8217;s clinical candidate is currently undergoing extensive
preclinical&nbsp; testing.&nbsp; FermaVir Research is contracting and
supervising the pharmacology and safety studies of its clinical candidate in
order to file an Investigational New Drug Application (IND) with the Food and
Drug Administration (FDA).&nbsp; Upon acceptance of the IND, FermaVir Research
intends to commence Phase I safety studies of its clinical candidate for the
treatment of shingles in humans.</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In
addition, FermaVir Research intends to identify from its proprietary anti-viral
compounds, a clinical candidate for the treatment of CMV infections in
transplant patients. FermaVir Research is also currently seeking other
opportunities and technologies for in-licensing from academic, research
institutions and commercial sources which would complement and enhance its
business.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item 2.03&nbsp; </TD>
    <TD width="89%">Creation of a Direct Financial Obligation or an Obligation
      under an Off-Balance Sheet Item</TD></TR></TABLE></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Information
responsive to this Item relating to our issuance of a 6% Note due November 15,
2005 is incorporated by reference to the disclosures concerning the note set
forth in Item 2.01 of this report.</FONT></DIV></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Section 3
- Securities and Trading Markets</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item 3.02&nbsp; </TD>
    <TD width="89%">Unregistered Sales of Equity Securities</TD></TR></TABLE></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
shares of common stock were issued as consideration for the acquisition of
FermaVir Research. Common stock and warrants issued in the private placement and
options issued under the Equity Plan were issued in reliance upon the exemption
from registration under the Securities Act of 1933, as amended, in reliance upon
Sections 4(2) and 4(6) and Rule 506 of Regulation D. Each of the persons to whom
securities were issued, represented that they were accredited investors and such
sales were made without the payment of any consideration or assistance of any
broker-dealer.</FONT></DIV></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">3</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Section
5. Corporate Governance and Management</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item 5.01&nbsp; </TD>
    <TD width="89%">Changes in Control of the Registrant</TD></TR></TABLE></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On August
16, 2005 the issuance of shares of our common stock, together with the private
placement and stock repurchased described in Item 2.01 of this report, resulted
in the loss of voting control formerly held by Panetta Partners Ltd. Their
percentage of ownership of our common stock was reduced from approximately 89%
to approximately 18%. In addition, on August 16, 2005, Sarah Boothe resigned as
an officer and director, after appointing the following persons to serve as our
officers and directors following the acquisition of FermaVir
Research:</FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>MANAGEMENT</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Directors
and Executive Officers</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
following table sets forth information regarding our executive officers and
directors as of August 16, 2005:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV align=center>
<TABLE borderColor=#000000 cellSpacing=0 cellPadding=5 width="95%" border=1>
  <TR>
    <TD style="BORDER-BOTTOM: #808080 thin solid" vAlign=top width="30%"
    bgColor=#ffff80>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Name</FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: #808080 thin solid" vAlign=top width="70%"
    bgColor=#ffff80>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Position</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top width="30%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Gabriele
      M. Cerrone</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Geoffrey
      W. Henson, Ph.D.</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Erik
      De Clercq, MD, Ph.D.</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Richard
      J. Whitley, MD</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chris
      McGuigan, Ph.D.</FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=top width="70%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chairman</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">CEO,
      President, Secretary and Director</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Director</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Director</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Director</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Gabriele
M. Cerrone. Mr. Cerrone was appointed to be our Chairman of the Board of
Directors on August 16, 2005. From March 1999 to January 2005, Mr. Cerrone
served as a Senior Vice President of Investments of Oppenheimer &amp; Co. Inc.,
a financial services firm. Prior to such affiliation, Mr. Cerrone held the
position of Managing Director of Investments at Barrington Capital, L.P., a
merchant bank, between March 1998 and March 1999. Between May 2001 and May 2003,
Mr. Cerrone served on the board of directors of SIGA Technologies, Inc. Mr.
Cerrone currently serves as Chairman of the Board and a consultant to Callisto
Pharmaceuticals,</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">4</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Inc., a
biotechnology company. In addition, Mr. Cerrone currently serves as Co-Chairman
of the Board and a consultant to Xenomics, Inc., a molecular diagnostics
company. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Geoffrey
W. Henson, Ph.D.</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Dr.
Henson was appointed</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">CEO,
President, Secretary and a director on August 16, 2005. He served as the CEO of
FermaVir Research since March 2005. Geoffrey Henson was a founder and Chief
Operating Officer of AnorMED, a Canadian biopharmaceutical company from
1996-2000. Dr. Henson was responsible for three new INDs on new agents at
AnorMED. Dr. Henson also negotiated several significant out-licensing
transactions for AnorMED drugs. Prior to that, he held a number of management
and scientific positions in the Biomedical Research Group at Johnson Matthey
from 1985-1996. From 1982-1985, Dr Henson was a researcher and member of the
Basel Institute for Immunology in Basel, Switzerland. From 1978-1981, Dr. Henson
did research at the Roswell Park Memorial Cancer Institute.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Erik De
Clercq, MD, Ph.D. Erik De Clercq was appointed director April 16, 2005 and has
served as a director of FermaVir Research since March, 2005. He is Full
Professor, Leuven University Medical School, Leuven, Belgium; Chairman,
Directory Board, Rega Institute, Leuven University; Chairman, Directory Board,
Rega Foundation, Leuven; Chairman, Department of Microbiology and Immunology,
Leuven University. Professor De Clercq has made substantial achievements to the
pharmaceutical armamentarium by being an inventor or co-inventor of six
currently approved drugs for anti-viral therapy. Several other drugs of which he
is a co-inventor or has made significant scientific advances are in development.
He has published more than 2000 scientific papers mostly in the area of
anti-viral therapy. Professor DeClercq is and has served on many editorial
boards over his career. He has been invited to lecture worldwide on anti-viral
chemotherapy. He has received numerous honorary degrees from international
organizations and universities. He is and has been a scientific advisor for many
pharmaceutical companies. Since 2001 he has received the following major awards:
1. The Otto Krayer Award for Pharmacology (American Society of Pharmacology and
Experimental Therapeutics). 2. The Hamao Umezawa Memorial Award, the highest
award given by the International Society of Chemotherapy (ISC) for outstanding
contributions in the field of chemotherapy. 3. The Ren&#233; Descartes Prize with his
collaborators, the highest award bestowed by the European Union, for Scientific
and Technological Excellence in European Collaborative Research. 4. The Blaise
Pascal Medal for Science and Technology of the European Academy of Sciences. 5.
The Gertrude Elion Distinguished Lecture Award.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Richard
J. Whitley, MD. Richard Whitley was appointed director August 16, 2005 and has
served as a director of FermaVir Research since March, 2005. He is Professor of
Pediatrics, Microbiology, Medicine and Neurosurgery; Loeb Scholar in Pediatrics;
Director, Division of Pediatric Infectious Diseases; Vice-Chair, Department of
Pediatrics; Senior Scientist, Department of Gene Therapy; Senior Scientist,
Cancer Research and Training Center; Associate Director for Clinical Studies,
Center for AIDS Research; and Director, Center for Biodefense and Emerging
Infections, at the University of Alabama at Birmingham. Dr. Whitley is
responsible for the National Institute of Allergy and Infectious Diseases
Collaborative Antiviral Study Group, whose role is to perform clinical trials of
antiviral therapies directed against medically important viral diseases of
children and adults, including viruses considered as threats to human health. Dr
Whitley&#8217;s other research interest is in the translation of molecular biology to
clinical application, particularly in the development of human monoclonal
antibodies for therapy</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">5</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">of
herpesvirus infections and engineering of herpes simplex virus for gene therapy.
In these latter studies, he and his colleagues have engineered herpes simplex
virus to serve as a vector for foreign gene expression. These viruses have been
advanced into human treatment studies of glioblastoma multiforme. Dr Whitley has
published over 260 articles. He serves on numerous government advisory
committees, including VERBAC and the Board of Scientific Councilors for National
Institute for Allergy and Infectious Diseases at the National Institutes of
Health.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chris
McGuigan, Ph.D.</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chris
McGuigan was appointed director August 16, 2005 and has served as a director of
FermaVir Research since March, 2005. He is Professor, Welsh School of Pharmacy,
Chairman of Departmental Research Committee and Director of Research, Head of
Medicinal Chemistry. He is the Chemistry Editor for Antiviral Chemistry and
Chemotherapy. Professor McGuigan is on the Editorial Board Member for Journal of
Medicinal Chemistry. He is author of over 130 papers and inventor on ten
patents. He has received several important awards for his work: 1. William
Prusoff Award of the International Society for Antiviral Research 2. The Rene
Descartes Prize for European Collaboration with his collaborators (including
Professor De Clercq) 3.The GlaxoSmithKline International Achievement Award for
2004. He is currently the President-elect and Board member of the International
Society for Antiviral Research. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Committees
and Management Rights Agreement</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">We
presently have only one standing committee of the Board which is the Senior
Executive Selection and Oversight Committee which was formed pursuant to a
charter on August 16, 2005. The committee may consist of up to three members and
presently only has one member, the Chairman of the Board. The committee&#8217;s
primary responsibilities is to evaluate and provide successor planning for the
chief executive, accounting and financial officers. Pursuant to a Management
Rights Agreement dated August 16, 2005 between Panetta Partners, Ltd., our
Chairman and us, the membership of the committee is to consist of the Chairman,
a designee of Panetta (the &#8220;Designee&#8221;) and an independent member of the board.
The agreement requires that the Designee, subject to applicable regulatory and
exchange requirements be a member of the nominating, compensation and audit
committees of the board, when we form them. In addition, the agreement requires
certain extraordinary corporate actions like mergers, major capital expenditures
and below market issuances of common stock be approved by the vote of committees
of the board or the entire board, including the affirmative vote of the
Designee.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Employment
Agreements </STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On March
4, 2005, Dr. Henson and FermaVir Research entered into a letter agreement.
Pursuant to the letter agreement, we will employ Dr. Henson as Chief Executive
Officer for a period of 4 years commencing April 4, 2005. Dr. Henson will be
paid an annual base salary of $210,000 and he is eligible to receive a cash
bonus of up to 20% of his salary per year. FermaVir Research granted an
aggregate 800,000 incentive stock options to Dr. Henson and we granted
replacement options under the Equity Plan with an exercise price of $1.10 per
share. As part of the acquisition 150,000 of such options shall vest on the
first anniversary of the grant, 175,000 of such options shall vest on the second
anniversary of the grant, 225,000 of such</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">6</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">options
shall vest on the third anniversary of grant and the remaining 250,000 options
shall vest on the fourth anniversary of the grant.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Consulting
Agreement</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Gabriele
M. Cerrone, our Chairman, serves as a consultant to us pursuant to an agreement
entered into on August 16, 2005. The term of the agreement is for three years
with automatic renewal for successive one year periods unless either party gives
notice to the other not to renew the agreement. The duties of Mr. Cerrone
pursuant to the agreement consist of business development, strategic planning,
capital markets and corporate financing consulting advice. Mr. Cerrone's
compensation under the agreement is $16,500 per month. In the event the
agreement is terminated without cause or for good reason, Mr. Cerrone will
receive a cash payment equal to the aggregate amount of the compensation
payments for the then remaining term of the agreement. In addition, in such
event, all unvested stock options owned by Mr. Cerrone will immediately vest and
the exercise period of such options will be extended to the later of the longest
period permitted by our stock option plans or ten years following termination.
In the event a change of control of our company occurs, Mr. Cerrone shall be
entitled to such compensation upon the subsequent termination of the agreement
within two years of the change in control unless such termination is the result
of Mr. Cerrone's death, disability or retirement or Mr. Cerrone's termination
for cause.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Stock
Option Plan</STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">We plan
to rely on incentive compensation in the form of stock options and restricted
stock grants to retain and motivate directors, executive officers, employees and
consultants. Incentive compensation in the form of stock options is designed to
provide long-term incentives to directors, executive officers, employees and
consultants, to encourage them to remain with us and to enable them to develop
and maintain an ownership position in our common stock. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The 2005
Equity Compensation Incentive Plan authorizes the grant of stock options and
restricted stock warrants to directors, eligible employees, including executive
officers, and consultants. The value realizable from exercisable options is
dependent upon the extent to which our performance is reflected in the value of
our common stock at any particular point in time. Equity compensation in the
form of stock options is designed to provide long-term incentives to directors,
executive officers and other employees. We plan to approve the granting of
options in order to motivate these employees to maximize stockholder value.
Generally, vesting for options granted under the stock option plan will be
determined at the time of grant, and options will expire after a 10-year period.
Options will generally be granted at an exercise price not less than the fair
market value at the date of grant. As a result of this policy, our directors,
executives, employees and consultants are rewarded economically only to the
extent that the stockholders also benefit through appreciation in the market.
Options granted to employees are based on such factors as individual initiative,
achievement and performance. In administering grants to executives, the
compensation committee of the Board of Directors (or in the absence of such a
committee, the Board) evaluates each executive's total equity compensation
package. The compensation committee generally reviews the option holdings of
each of the executive officers, including vesting and exercise price and the
then current value of such unvested options. We </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">7</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">consider
</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">equity
compensation to be an integral part of a competitive executive compensation
package and an important mechanism to align the interests of management with
those of its stockholders. </FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">As of
August 16, 2005, 1,850,000 options were outstanding under the stock option plan.
There are 7,500,000 shares available to be the subject of options and awards
under the plan. The options granted under the plan may be either "incentive
stock options" within the meaning of Section 422 of the Internal Revenue Code of
1986, as amended (the "Code"), or non-statutory stock options at the discretion
of the Board of Directors and as reflected in the terms of the written option
agreement. The stock option plan is not a qualified deferred compensation plan
under Section 401(a) of the Code, and is not subject to the provisions of the
Employee Retirement Income Security Act of 1974, as amended (ERISA).
</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>PRINCIPAL
STOCKHOLDERS </STRONG></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
following table indicates beneficial ownership of our common stock as of August
17, 2005:</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 18pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif">&#183;</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">By
      each person or entity known by us to beneficially own more than 5% of the
      outstanding shares of our common stock; </FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 18pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif">&#183;</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">By
      each of our executive officers and directors;
and</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 18pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif">&#183;</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">By
      all of our executive officers and directors as a
group.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Unless
other indicated, the address of each beneficial owner listed below is c/o
FermaVir Pharmaceuticals, Inc., 420 Lexington Avenue, Suite 1609, New York, New
York 10170.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Beneficial
ownership is determined in accordance with the rules of the Securities and
Exchange Commission and generally includes voting or investment power with
respect to securities. Percentage of beneficial ownership is based on 16,354,000
shares of our common stock issued and outstanding as of August 17,
2005.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV align=left>
<DIV>
<TABLE borderColor=#000000 cellSpacing=0 cellPadding=5 width="100%" border=1>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><U>Name
      of Beneficial Owner</U></FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><U></U>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><U>Number
      of Shares</U></FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=center><U></U>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><U>Percentage</U></FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=center><U></U>&nbsp;</DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Named
      executive officers and directors:</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=center align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Gabriele
      M. Cerrone</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">2,880,000</FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman"><SUP>(1)</SUP></FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">17.61%</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=center align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Geoffrey
      W. Henson, Ph.D.</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">0</FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman"><SUP>(2)</SUP></FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">0%</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=center align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Erik
      De Clercq, MD, Ph.D.</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">525,000</FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman"><SUP>(3)</SUP></FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">3.11%</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">8</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV>&nbsp;</DIV>
<DIV>
<TABLE borderColor=#000000 cellSpacing=0 cellPadding=5 width="100%" border=1>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=center align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chris
      McGuigan</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">1,029,000
      </FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">6.29%</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=center align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Richard
      J. Whitely, MD</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">0</FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">0%</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">All
      Officers and Directors as a Group (5 persons)</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">4,434,000</FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">26.27%</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left
    width="41%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">5%
      or greater holders:</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left>&nbsp;</DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left
    width="41%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Panetta
      Partners Ltd.</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">1275
      First Avenue, Suite 296</FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">New
      York, NY 10021</FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="16%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">2,880,000
      </FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=right
    width="11%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 7.2pt"
      align=right><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">17.61%</FONT></DIV></TD></TR></TABLE></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 18pt">&nbsp;</TD>
    <TD style="WIDTH: 18pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">(1)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Consists
      solely of shares of common stock owned by Panetta Partners, Ltd. Mr.
      Cerrone is the sole general partner of Panetta Partners, Ltd. and in such
      capacity only exercises voting and dispositive control over securities
      owned by Panetta. As such, Mr. Cerrone may be deemed, solely for purposes
      of Section 13(d) of the Securities Exchange Act of 1934, as amended, to
      &#8220;beneficially&#8221; own securities in which he has no pecuniary interest and he
      therefore disclaims such beneficial
interest.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 18pt">&nbsp;</TD>
    <TD style="WIDTH: 18pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">(2)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Does
      not include 800,000 shares that may be obtained upon the exercise of stock
      options that are not vested which, and by their terms, are not exercisable
      within 60 days..</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 18pt">&nbsp;</TD>
    <TD style="WIDTH: 18pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">(3)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><FONT
      style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Consists
      of 525,000 shares which may be obtained within 60 days upon the exercise
      of outstanding stock options.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item 5.02&nbsp; </TD>
    <TD width="89%">Departure of Directors or Principal Officers; Election of
      Directors; Appointment <FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">of
      Principal Officers</FONT></TD></TR></TABLE></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Information
responsive to this Item is incorporated by reference to Item 5.01 of this
report.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item 5.03&nbsp; &nbsp;</TD>
    <TD width="89%">Amendments to Articles of Incorporation or Bylaws; Change
      in Fiscal Year</TD></TR></TABLE></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On August
16, 2005 we approved an amendment to our Florida Articles of Incorporation which
changes our corporate name to &#8220;Fermavir Pharmaceuticals, Inc.&#8221;, split our
outstanding common stock 35.28 for one and restored our authorized capital stock
to 120,000,000 shares, of which 100,000,000 shares are common stock, $.0001 par
value and 20,000,000 shares are preferred stock, $.001 par value. The amendment
is effective August 22, 2005. We also amended our by-laws to (a) fix the maximum
number of directors at 11; (2) provide for the appointment of a chairman of the
board; (3) permit the payment of a flat amount for attending meetings of the
board; (4) clarify the authority of vice presidents; (5) require indemnification
of officers and directors to the fullest extent permitted by Florida law; and
(6) provide for the issuance of stock certificates rather than
book-entry.</FONT></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item&nbsp;7.01&nbsp; </TD>
    <TD width="89%"><U>Regulation FD Disclosure</U></TD></TR></TABLE></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On August
17, 2005, we issued a press release concerning the completion of the acquisition
of Fermavir Research. A copy of the press release we issued&nbsp;concerning the
forgoing is furnished herewith as Exhibit 99.1 and is incorporated herein by
reference.</FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Additional
information concerning our company following the acquisition of Fermavir
Research, including certain risks of its business, will furnish in the form of a
&#8220;Descriptive Memorandum&#8221;</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">9</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">as
Exhibit 99.2 in an amendment to this report. Such information is not deemed to
be &#8220;Filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="100%" bgColor=#ffffff>
  <TR bgColor=#ffffff>
    <TD width="11%">Item&nbsp;9.01&nbsp; </TD>
    <TD width="89%"><U>Financial Statements and
Exhibits</U></TD></TR></TABLE></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV></DIV></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(a)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
      Financial Statements required by Item 310 of Regulation S-B pertaining to
      Fermavir Research, Inc. and proforma financial information will be filed
      as an amendment to this report.</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><BR></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center
border=0>
  <TR style="LINE-HEIGHT: 1" vAlign=top>
    <TD style="WIDTH: 36pt">&nbsp;</TD>
    <TD style="WIDTH: 36pt">
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(c)</FONT></DIV></TD>
    <TD>
      <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
      align=justify><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Exhibits</FONT></DIV></TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&nbsp;</DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=left>
<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=bottom align=left
    width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif"><STRONG>Exhibit</STRONG></FONT></DIV>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif"><STRONG>Number</STRONG></FONT></DIV></TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 thin solid" vAlign=bottom align=left
    width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=center><FONT
      style="DISPLAY: inline; FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif"><STRONG>Description</STRONG></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD vAlign=top align=left width="88%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">3.1</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Articles
      of Amendment of Articles of Incorporation of Venus Beauty Supply,
      Inc.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">3.2</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Amended
      and Restated Bylaws of FermaVir Pharmaceuticals, Inc.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">4.1</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Form
      of Stock Purchase Warrant of FermaVir Pharmaceuticals,
  Inc.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">4.2</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">FermaVir
      Pharmaceuticals, Inc. 2005 Equity Compensation Incentive
    Plan.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">4.3</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Form
      of 6% Promissory Note of Venus Beauty Supply, Inc.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">10.1</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Repurchase
      Agreement dated as of August 16, 2005 by and between Venus Beauty Supply,
      Inc. and Panetta Partners, Ltd.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">10.2</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Consulting
      Agreement dated as of August 16, 2005 by and between Gabriele M. Cerrone
      and Venus Beauty Supply, Inc.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">10.3</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Management
      Rights Agreement dated as of August 16, 2005 by and among Venus Beauty
      Supply, Inc., Gabriele M. Cerrone and Panetta Partners,
    Ltd.</FONT></DIV></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="10%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">99.1</FONT></DIV></TD>
    <TD width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: medium none" vAlign=top align=left width="88%">
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Press
      Release of Venus Beauty Supply, Inc. dated August 18, 2005.
    </FONT></DIV></TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">10</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV></FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">SIGNATURE</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=center><BR></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Dated:</FONT><FONT
id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">August
19, 2005</FONT></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
align=justify>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center bgColor=#ffffff
border=0>
  <TR vAlign=top bgColor=#ffffff>
    <TD width="50%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="49%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD colSpan=2><FONT face="Times New Roman" size=2>
      <DIV
      style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt"
      align=left><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">FERMAVIR
      PHARMACEUTICALS, INC.</FONT></DIV></FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD><FONT face="Times New Roman" size=2>&nbsp;<BR>&nbsp;</FONT></TD>
    <TD><FONT face="Times New Roman" size=2>&nbsp;<BR>&nbsp;</FONT></TD>
    <TD><FONT face="Times New Roman" size=2>&nbsp;<BR>&nbsp;</FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD><FONT face="Times New Roman" size=2></FONT></TD>
    <TD><FONT
      style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">By:&nbsp;&nbsp;</FONT></TD>
    <TD><FONT face="Times New Roman">/s/ Geoffrey W. Henson,
Ph.D.</FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD colSpan=2><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD align=left>
      <HR align=left width="80%" color=#000000 noShade SIZE=2>
    </TD></TR>
  <TR vAlign=top bgColor=#ffffff>
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Current Report
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities and Exchange Act of
1934
Date
of Report (Date of earliest event reported): August 16, 2005
FERMAVIR
PHARMACEUTICALS, INC.
(Exact
name of registrant as specified in its charter)
Florida
333-116480
16-1639902
(State
of
      I
ncorporation)
(Commission
      File Number)
(IRS
      Employer Identification No.
)
420
      Lexington Avenue
New York, New York 10170
(Address
      of Principal Executive Offices)
(212)
      375-2630
(Registrant's
      telephone number, including area code)
Venus
      Beauty Supply, Inc.
31-51 Steinway Street
Long Island City, NY 11103
(former
      name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
The
information in this report gives effect to a corporate name change and 35.28 for
one stock split which are contained in an amendment to our articles of
incorporation which was filed with the Florida Secretary of State on August 17,
2005 and becomes effective on August 22, 2005.
Section 1
- Registrants Business and Operations
Item 1.01
Entry into a Material Definitive
Agreement
On August
16, 2006 we adopted the FermaVir Pharmaceuticals, Inc. 2005 Equity Compensation
Incentive Plan (the "Equity Plan") by consent of our then sole director and
consent of more than a majority of our outstanding shares. The Equity Plan
authorizes the granting of incentive stock options within the meaning of Section
422 of the Internal Revenue Code of 1986, as amended, non-statutory options and
restricted stock awards with respect to up to 7,500,000 shares of our common
stock. Additional information concerning the Equity Plan, outstanding options
and the terms of outstanding options is set forth in Item 5.01 of this report
and is incorporated herein by reference.
In
connection with the completion of the acquisition of assets described in
response to Item 2.01 of this report, we entered into a stock Repurchase
Agreement, Consulting Agreement and Management Rights Agreement, the material
terms of which are set forth in response to Items 2.01, 2.03 and 5.01 of this
report and information required to be disclosed in response to this Item is
incorporated by reference to such disclosure.
Section 2
- Financial Information
Item 2.01
Completion of Acquisition or Disposition of
    Assets
Introduction
On August
16, 2005, we acquired all of the outstanding shares of FermaVir Research, Inc.,
a Delaware corporation ("FermaVir Research") pursuant to a Securities Exchange
Agreement dated August 11, 2005, between us and the shareholders of FermaVir
Research (the "Exchange Agreement"), completed a redemption of outstanding
shares, closed on a private placement of securities and took action to split our
outstanding common stock and changed our name to "FermaVir Pharmaceuticals,
Inc.".
The
Transactions
We issued
1,829,000 shares of our restricted common stock in exchange for all of the
outstanding shares of capital stock of FermaVir Research and issued 1,850,000
options under our newly adopted Equity Plan in satisfaction of options that were
outstanding to purchase shares of FermaVir Research. Simultaneously with the
acquisition, we sold 2,825,000 shares of our common stock and 423,750 five year
warrants to 17 accredited investors for $2,118,390 in a private placement. In
addition, we redeemed the now equivalent of 67,680,000 shares of our common
stock from Panetta Partners, Inc., a principal shareholder for $750,000 ($0.011
per share), of which $350,000 was paid by our issuance of a 6% unsecured
promissory note due November 15, 2005. The promissory note is due with interest
on November 15, 2005 and
2
requires
prepayment of principal from the net proceeds received by us from the sale of
securities or borrowings. The note contains standard acceleration provisions
which may require us to pay the full principal balance of the note in the event
of insolvency, bankruptcy or our failure to comply with material agreements
between us and the note holder and its affiliates.
The
shares issued for the acquisition and private placement, after the repurchase of
stock, constitute approximately 57% of our outstanding common
stock.
FermaVir
Research is a development stage biotechnology company that has licensed patents
on a series of compounds for the treatment of viral diseases including compounds
for the treatment of varicella zoster virus ("VZV"), the causative agent for
shingles and chickenpox and human cytomegalovirus ("CMV"), a member of the
herpes virus group which includes the viruses that cause chicken pox,
mononucleosis, herpes labialis (cold sores) and genitalis (genital herpes).
FermaVir Research has performed preclinical studies on its compounds and has
selected a clinical candidate for development for the treatment of shingles.
FermaVir Research's clinical candidate is currently undergoing extensive
preclinical  testing.  FermaVir Research is contracting and
supervising the pharmacology and safety studies of its clinical candidate in
order to file an Investigational New Drug Application (IND) with the Food and
Drug Administration (FDA).  Upon acceptance of the IND, FermaVir Research
intends to commence Phase I safety studies of its clinical candidate for the
treatment of shingles in humans.
In
addition, FermaVir Research intends to identify from its proprietary anti-viral
compounds, a clinical candidate for the treatment of CMV infections in
transplant patients. FermaVir Research is also currently seeking other
opportunities and technologies for in-licensing from academic, research
institutions and commercial sources which would complement and enhance its
business.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation
      under an Off-Balance Sheet Item
Information
responsive to this Item relating to our issuance of a 6% Note due November 15,
2005 is incorporated by reference to the disclosures concerning the note set
forth in Item 2.01 of this report.
Section 3
- Securities and Trading Markets
Item 3.02
Unregistered Sales of Equity Securities
The
shares of common stock were issued as consideration for the acquisition of
FermaVir Research. Common stock and warrants issued in the private placement and
options issued under the Equity Plan were issued in reliance upon the exemption
from registration under the Securities Act of 1933, as amended, in reliance upon
Sections 4(2) and 4(6) and Rule 506 of Regulation D. Each of the persons to whom
securities were issued, represented that they were accredited investors and such
sales were made without the payment of any consideration or assistance of any
broker-dealer.
3
Section
5. Corporate Governance and Management
Item 5.01
Changes in Control of the Registrant
On August
16, 2005 the issuance of shares of our common stock, together with the private
placement and stock repurchased described in Item 2.01 of this report, resulted
in the loss of voting control formerly held by Panetta Partners Ltd. Their
percentage of ownership of our common stock was reduced from approximately 89%
to approximately 18%. In addition, on August 16, 2005, Sarah Boothe resigned as
an officer and director, after appointing the following persons to serve as our
officers and directors following the acquisition of FermaVir
Research:
MANAGEMENT
Directors
and Executive Officers
The
following table sets forth information regarding our executive officers and
directors as of August 16, 2005:
Name
Position
Gabriele
      M. Cerrone
Geoffrey
      W. Henson, Ph.D.
Erik
      De Clercq, MD, Ph.D.
Richard
      J. Whitley, MD
Chris
      McGuigan, Ph.D.
Chairman
CEO,
      President, Secretary and Director
Director
Director
Director
Gabriele
M. Cerrone. Mr. Cerrone was appointed to be our Chairman of the Board of
Directors on August 16, 2005. From March 1999 to January 2005, Mr. Cerrone
served as a Senior Vice President of Investments of Oppenheimer & Co. Inc.,
a financial services firm. Prior to such affiliation, Mr. Cerrone held the
position of Managing Director of Investments at Barrington Capital, L.P., a
merchant bank, between March 1998 and March 1999. Between May 2001 and May 2003,
Mr. Cerrone served on the board of directors of SIGA Technologies, Inc. Mr.
Cerrone currently serves as Chairman of the Board and a consultant to Callisto
Pharmaceuticals,
4
Inc., a
biotechnology company. In addition, Mr. Cerrone currently serves as Co-Chairman
of the Board and a consultant to Xenomics, Inc., a molecular diagnostics
company.
Geoffrey
W. Henson, Ph.D.
Dr.
Henson was appointed
CEO,
President, Secretary and a director on August 16, 2005. He served as the CEO of
FermaVir Research since March 2005. Geoffrey Henson was a founder and Chief
Operating Officer of AnorMED, a Canadian biopharmaceutical company from
1996-2000. Dr. Henson was responsible for three new INDs on new agents at
AnorMED. Dr. Henson also negotiated several significant out-licensing
transactions for AnorMED drugs. Prior to that, he held a number of management
and scientific positions in the Biomedical Research Group at Johnson Matthey
from 1985-1996. From 1982-1985, Dr Henson was a researcher and member of the
Basel Institute for Immunology in Basel, Switzerland. From 1978-1981, Dr. Henson
did research at the Roswell Park Memorial Cancer Institute.
Erik De
Clercq, MD, Ph.D. Erik De Clercq was appointed director April 16, 2005 and has
served as a director of FermaVir Research since March, 2005. He is Full
Professor, Leuven University Medical School, Leuven, Belgium; Chairman,
Directory Board, Rega Institute, Leuven University; Chairman, Directory Board,
Rega Foundation, Leuven; Chairman, Department of Microbiology and Immunology,
Leuven University. Professor De Clercq has made substantial achievements to the
pharmaceutical armamentarium by being an inventor or co-inventor of six
currently approved drugs for anti-viral therapy. Several other drugs of which he
is a co-inventor or has made significant scientific advances are in development.
He has published more than 2000 scientific papers mostly in the area of
anti-viral therapy. Professor DeClercq is and has served on many editorial
boards over his career. He has been invited to lecture worldwide on anti-viral
chemotherapy. He has received numerous honorary degrees from international
organizations and universities. He is and has been a scientific advisor for many
pharmaceutical companies. Since 2001 he has received the following major awards:
1. The Otto Krayer Award for Pharmacology (American Society of Pharmacology and
Experimental Therapeutics). 2. The Hamao Umezawa Memorial Award, the highest
award given by the International Society of Chemotherapy (ISC) for outstanding
contributions in the field of chemotherapy. 3. The René Descartes Prize with his
collaborators, the highest award bestowed by the European Union, for Scientific
and Technological Excellence in European Collaborative Research. 4. The Blaise
Pascal Medal for Science and Technology of the European Academy of Sciences. 5.
The Gertrude Elion Distinguished Lecture Award.
Richard
J. Whitley, MD. Richard Whitley was appointed director August 16, 2005 and has
served as a director of FermaVir Research since March, 2005. He is Professor of
Pediatrics, Microbiology, Medicine and Neurosurgery; Loeb Scholar in Pediatrics;
Director, Division of Pediatric Infectious Diseases; Vice-Chair, Department of
Pediatrics; Senior Scientist, Department of Gene Therapy; Senior Scientist,
Cancer Research and Training Center; Associate Director for Clinical Studies,
Center for AIDS Research; and Director, Center for Biodefense and Emerging
Infections, at the University of Alabama at Birmingham. Dr. Whitley is
responsible for the National Institute of Allergy and Infectious Diseases
Collaborative Antiviral Study Group, whose role is to perform clinical trials of
antiviral therapies directed against medically important viral diseases of
children and adults, including viruses considered as threats to human health. Dr
Whitley's other research interest is in the translation of molecular biology to
clinical application, particularly in the development of human monoclonal
antibodies for therapy
5
of
herpesvirus infections and engineering of herpes simplex virus for gene therapy.
In these latter studies, he and his colleagues have engineered herpes simplex
virus to serve as a vector for foreign gene expression. These viruses have been
advanced into human treatment studies of glioblastoma multiforme. Dr Whitley has
published over 260 articles. He serves on numerous government advisory
committees, including VERBAC and the Board of Scientific Councilors for National
Institute for Allergy and Infectious Diseases at the National Institutes of
Health.
Chris
McGuigan, Ph.D.
Chris
McGuigan was appointed director August 16, 2005 and has served as a director of
FermaVir Research since March, 2005. He is Professor, Welsh School of Pharmacy,
Chairman of Departmental Research Committee and Director of Research, Head of
Medicinal Chemistry. He is the Chemistry Editor for Antiviral Chemistry and
Chemotherapy. Professor McGuigan is on the Editorial Board Member for Journal of
Medicinal Chemistry. He is author of over 130 papers and inventor on ten
patents. He has received several important awards for his work: 1. William
Prusoff Award of the International Society for Antiviral Research 2. The Rene
Descartes Prize for European Collaboration with his collaborators (including
Professor De Clercq) 3.The GlaxoSmithKline International Achievement Award for
2004. He is currently the President-elect and Board member of the International
Society for Antiviral Research.
Committees
and Management Rights Agreement
We
presently have only one standing committee of the Board which is the Senior
Executive Selection and Oversight Committee which was formed pursuant to a
charter on August 16, 2005. The committee may consist of up to three members and
presently only has one member, the Chairman of the Board. The committee's
primary responsibilities is to evaluate and provide successor planning for the
chief executive, accounting and financial officers. Pursuant to a Management
Rights Agreement dated August 16, 2005 between Panetta Partners, Ltd., our
Chairman and us, the membership of the committee is to consist of the Chairman,
a designee of Panetta (the "Designee") and an independent member of the board.
The agreement requires that the Designee, subject to applicable regulatory and
exchange requirements be a member of the nominating, compensation and audit
committees of the board, when we form them. In addition, the agreement requires
certain extraordinary corporate actions like mergers, major capital expenditures
and below market issuances of common stock be approved by the vote of committees
of the board or the entire board, including the affirmative vote of the
Designee.
Employment
Agreements
On March
4, 2005, Dr. Henson and FermaVir Research entered into a letter agreement.
Pursuant to the letter agreement, we will employ Dr. Henson as Chief Executive
Officer for a period of 4 years commencing April 4, 2005. Dr. Henson will be
paid an annual base salary of $210,000 and he is eligible to receive a cash
bonus of up to 20% of his salary per year. FermaVir Research granted an
aggregate 800,000 incentive stock options to Dr. Henson and we granted
replacement options under the Equity Plan with an exercise price of $1.10 per
share. As part of the acquisition 150,000 of such options shall vest on the
first anniversary of the grant, 175,000 of such options shall vest on the second
anniversary of the grant, 225,000 of such
6
options
shall vest on the third anniversary of grant and the remaining 250,000 options
shall vest on the fourth anniversary of the grant.
Consulting
Agreement
Gabriele
M. Cerrone, our Chairman, serves as a consultant to us pursuant to an agreement
entered into on August 16, 2005. The term of the agreement is for three years
with automatic renewal for successive one year periods unless either party gives
notice to the other not to renew the agreement. The duties of Mr. Cerrone
pursuant to the agreement consist of business development, strategic planning,
capital markets and corporate financing consulting advice. Mr. Cerrone's
compensation under the agreement is $16,500 per month. In the event the
agreement is terminated without cause or for good reason, Mr. Cerrone will
receive a cash payment equal to the aggregate amount of the compensation
payments for the then remaining term of the agreement. In addition, in such
event, all unvested stock options owned by Mr. Cerrone will immediately vest and
the exercise period of such options will be extended to the later of the longest
period permitted by our stock option plans or ten years following termination.
In the event a change of control of our company occurs, Mr. Cerrone shall be
entitled to such compensation upon the subsequent termination of the agreement
within two years of the change in control unless such termination is the result
of Mr. Cerrone's death, disability or retirement or Mr. Cerrone's termination
for cause.
Stock
Option Plan
We plan
to rely on incentive compensation in the form of stock options and restricted
stock grants to retain and motivate directors, executive officers, employees and
consultants. Incentive compensation in the form of stock options is designed to
provide long-term incentives to directors, executive officers, employees and
consultants, to encourage them to remain with us and to enable them to develop
and maintain an ownership position in our common stock.
The 2005
Equity Compensation Incentive Plan authorizes the grant of stock options and
restricted stock warrants to directors, eligible employees, including executive
officers, and consultants. The value realizable from exercisable options is
dependent upon the extent to which our performance is reflected in the value of
our common stock at any particular point in time. Equity compensation in the
form of stock options is designed to provide long-term incentives to directors,
executive officers and other employees. We plan to approve the granting of
options in order to motivate these employees to maximize stockholder value.
Generally, vesting for options granted under the stock option plan will be
determined at the time of grant, and options will expire after a 10-year period.
Options will generally be granted at an exercise price not less than the fair
market value at the date of grant. As a result of this policy, our directors,
executives, employees and consultants are rewarded economically only to the
extent that the stockholders also benefit through appreciation in the market.
Options granted to employees are based on such factors as individual initiative,
achievement and performance. In administering grants to executives, the
compensation committee of the Board of Directors (or in the absence of such a
committee, the Board) evaluates each executive's total equity compensation
package. The compensation committee generally reviews the option holdings of
each of the executive officers, including vesting and exercise price and the
then current value of such unvested options. We
7
consider
equity
compensation to be an integral part of a competitive executive compensation
package and an important mechanism to align the interests of management with
those of its stockholders.
As of
August 16, 2005, 1,850,000 options were outstanding under the stock option plan.
There are 7,500,000 shares available to be the subject of options and awards
under the plan. The options granted under the plan may be either "incentive
stock options" within the meaning of Section 422 of the Internal Revenue Code of
1986, as amended (the "Code"), or non-statutory stock options at the discretion
of the Board of Directors and as reflected in the terms of the written option
agreement. The stock option plan is not a qualified deferred compensation plan
under Section 401(a) of the Code, and is not subject to the provisions of the
Employee Retirement Income Security Act of 1974, as amended (ERISA).
PRINCIPAL
STOCKHOLDERS
The
following table indicates beneficial ownership of our common stock as of August
17, 2005:
·
By
      each person or entity known by us to beneficially own more than 5% of the
      outstanding shares of our common stock;
·
By
      each of our executive officers and directors;
and
·
By
      all of our executive officers and directors as a
group.
Unless
other indicated, the address of each beneficial owner listed below is c/o
FermaVir Pharmaceuticals, Inc., 420 Lexington Avenue, Suite 1609, New York, New
York 10170.
Beneficial
ownership is determined in accordance with the rules of the Securities and
Exchange Commission and generally includes voting or investment power with
respect to securities. Percentage of beneficial ownership is based on 16,354,000
shares of our common stock issued and outstanding as of August 17,
2005.
Name
      of Beneficial Owner
Number
      of Shares
Percentage
Named
      executive officers and directors:
Gabriele
      M. Cerrone
2,880,000
(1)
17.61%
Geoffrey
      W. Henson, Ph.D.
0
(2)
0%
Erik
      De Clercq, MD, Ph.D.
525,000
(3)
3.11%
8
Chris
      McGuigan
1,029,000
6.29%
Richard
      J. Whitely, MD
0
0%
All
      Officers and Directors as a Group (5 persons)
4,434,000
26.27%
5%
      or greater holders:
Panetta
      Partners Ltd.
1275
      First Avenue, Suite 296
New
      York, NY 10021
2,880,000
17.61%
(1)
Consists
      solely of shares of common stock owned by Panetta Partners, Ltd. Mr.
      Cerrone is the sole general partner of Panetta Partners, Ltd. and in such
      capacity only exercises voting and dispositive control over securities
      owned by Panetta. As such, Mr. Cerrone may be deemed, solely for purposes
      of Section 13(d) of the Securities Exchange Act of 1934, as amended, to
      "beneficially" own securities in which he has no pecuniary interest and he
      therefore disclaims such beneficial
interest.
(2)
Does
      not include 800,000 shares that may be obtained upon the exercise of stock
      options that are not vested which, and by their terms, are not exercisable
      within 60 days..
(3)
Consists
      of 525,000 shares which may be obtained within 60 days upon the exercise
      of outstanding stock options.
Item 5.02
Departure of Directors or Principal Officers; Election of
      Directors; Appointment
of
      Principal Officers
Information
responsive to this Item is incorporated by reference to Item 5.01 of this
report.
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change
      in Fiscal Year
On August
16, 2005 we approved an amendment to our Florida Articles of Incorporation which
changes our corporate name to "Fermavir Pharmaceuticals, Inc.", split our
outstanding common stock 35.28 for one and restored our authorized capital stock
to 120,000,000 shares, of which 100,000,000 shares are common stock, $.0001 par
value and 20,000,000 shares are preferred stock, $.001 par value. The amendment
is effective August 22, 2005. We also amended our by-laws to (a) fix the maximum
number of directors at 11; (2) provide for the appointment of a chairman of the
board; (3) permit the payment of a flat amount for attending meetings of the
board; (4) clarify the authority of vice presidents; (5) require indemnification
of officers and directors to the fullest extent permitted by Florida law; and
(6) provide for the issuance of stock certificates rather than
book-entry.
Item 7.01
Regulation FD Disclosure
On August
17, 2005, we issued a press release concerning the completion of the acquisition
of Fermavir Research. A copy of the press release we issued concerning the
forgoing is furnished herewith as Exhibit 99.1 and is incorporated herein by
reference.
Additional
information concerning our company following the acquisition of Fermavir
Research, including certain risks of its business, will furnish in the form of a
"Descriptive Memorandum"
9
as
Exhibit 99.2 in an amendment to this report. Such information is not deemed to
be "Filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended.
Item 9.01
Financial Statements and
Exhibits
(a)
The
      Financial Statements required by Item 310 of Regulation S-B pertaining to
      Fermavir Research, Inc. and proforma financial information will be filed
      as an amendment to this report.
(c)
Exhibits
Exhibit
Number
Description
3.1
Articles
      of Amendment of Articles of Incorporation of Venus Beauty Supply,
      Inc.
3.2
Amended
      and Restated Bylaws of FermaVir Pharmaceuticals, Inc.
4.1
Form
      of Stock Purchase Warrant of FermaVir Pharmaceuticals,
  Inc.
4.2
FermaVir
      Pharmaceuticals, Inc. 2005 Equity Compensation Incentive
    Plan.
4.3
Form
      of 6% Promissory Note of Venus Beauty Supply, Inc.
10.1
Repurchase
      Agreement dated as of August 16, 2005 by and between Venus Beauty Supply,
      Inc. and Panetta Partners, Ltd.
10.2
Consulting
      Agreement dated as of August 16, 2005 by and between Gabriele M. Cerrone
      and Venus Beauty Supply, Inc.
10.3
Management
      Rights Agreement dated as of August 16, 2005 by and among Venus Beauty
      Supply, Inc., Gabriele M. Cerrone and Panetta Partners,
    Ltd.
99.1
Press
      Release of Venus Beauty Supply, Inc. dated August 18, 2005.
10
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated:
August
19, 2005
FERMAVIR
      PHARMACEUTICALS, INC.
By:
/s/ Geoffrey W. Henson,
Ph.D.
Geoffrey W. Henson,
Ph.D.
11