MINRAD

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MINRAD International, Inc. May 2007 (AMEXBUF)
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FORWARD-LOOKING STATEMENTS   This presentation
contains certain forward looking statements, as
defined in the Private Securities Litigation
Reform Act of 1995, including or related to our
future results (including certain projections,
business trends and assumptions on future
financings).   Assumptions related to
forward-looking statements involve judgments with
respect to, among other things, future economic,
competitive and market conditions and future
business decisions and financings, all of which
are difficult or impossible to predict. When
used in this presentation, the words or
statements that relate to future events and our
future financial performance, such as "may,"
"will," "should," "expect," "scheduled," "plan,"
"intend," "anticipate," "believe," "estimate,"
"potential," or "continue" or the negative of
such terms or other similar words, are intended
to be forward-looking statements. You should
read these statements carefully because they
discuss our future expectations, and we believe
that it is important to communicate these
expectations to our stockholders. However, these
statements are only anticipations. Actual events
or results may differ materially.   Although we
believe that the expectations reflected in the
forward-looking statements are reasonable, we
cannot guarantee future results, levels of
activity, future financings, performance, or
achievements. Moreover, we do not assume any
responsibility for accuracy and completeness of
such statements in the future. We do not plan to
update any of the forward-looking statements
after the date of this presentation to conform
such statements to actual results.
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Company Overview

• Minrad is an interventional pain company with
  three product lines
• Anesthesia and Analgesia
• Image Guidance
• Conscious Sedation
• Contracts with 65 international distributors
• FDA registered and cGMP compliant specialty
  pharmaceutical manufacturing facility in
  Bethlehem, PA
• Focused RD effort with 26 professionals

Orchard Park Facility
Bethlehem Facility
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Senior Management Team

• William Burns, Jr.
• Chairman CEO
• John McNeirney
• SVP CTO
• Kirk Kamsler
• SVP Commercial Development

• President CEO Matrx Medical, National
  Entrepreneur Hall of Fame
• 60 patents, recipient University/Industry
  Technology Discovery Award
• VP Sales Marketing Cardiac
• Controls Systems, Inc.

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MINRAD Revenue Growth
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MINRAD International Overview
Anesthesia Analgesia
Interventional Pain Management
Real-time Image Guidance
Conscious Sedation
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Anesthetic Market Dynamics

• Generic Specialty Pharmaceuticals
• 1150 million market with sevoflurane 870
  million leading drug
• Abbott is market leader as introducer of
  sevoflurane but appears to be supporting harvest
  strategy
• Baxter is 2 in segment and still enjoying
  proprietary margins on desflurane despite patent
  expiration
• High barriers to market entry
• Distribution
• Specialty Production Facilities
• Intellectual Property

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SojournTM (sevoflurane)

• Sevoflurane is a 870 million product
• Three process patent holders Minrad, Abbott and
  Baxter
• Currently marketed in three countries, six
  counties approved in with 14 registrations in
  process
• Signed agreements with 34 partners provide
  minimum purchases of 90 million by 2009
• Complex manufacturing and synthetic chemistry

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Inhalant Anesthetic Products
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Anesthetic Share of Served Market
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Anesthetic Key Success Factors

• Rapidly expand product registration
• Position MINRAD managers in market six months
  prior to anticipated approvals
• Expand Bethlehem Plant capacity
• Layer additional products (ex desflurane) on
  distribution platform
• Exploit economies of scale to enhance margins
• Develop marketing programs to support organic
  growth once in a market.

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Real-Time Image Guidance

• Proprietary technology addresses a 2.0 billion
  market segment, 25 recurring revenue
• SabreSourceTM/Light SabreTM benefits
• Accurate approach to sub-surface targets
• Reduced radiation to patients and staff
• Ease of use enabling increased usage in pain
  settings

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SabreSourceTM Cadaver Lab
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SabreSourceTM

• SabreSourceTM enables precise visualization of
  the surface point of entry and the exact angle of
  approach to an internal treatment or biopsy site

• Accuracy / - 1 mm from 1 meter
• Enables surgeons to target multiple sites in a
  four - inch diameter cone
• Reduces 50-85 of variable radiation depending
  on the type of procedure
• Applications in orthopedics, neurosurgery and
  pain management

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Light SabreTM

• Light SabreTM provides real-time visual feedback
  regarding the targeted internal treatment or
  biopsy site

• FDA accepted accuracy claim / - 3 mm at a
  depth of 100 mm
• Six FDA accepted pain and spinal products
• 11 years remain on the Light SabreTM patents
• Disposables potential 400 MM

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Conscious Sedation

• Conscious sedation allows pain relief without
  loss of consciousness similar to nitrous oxide
  in dentistry or benzodiazepines in colonoscopies

• Addresses multi-billion dollar market
• Proprietary micro-flow titration technology
  utilizes inhalant anesthetics, at a lower dose,
  as analgesics
• Intellectual property covers both pharmaceuticals
  and delivery systems

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Anesthesia Analgesia Profile Minimum Alveolar
Concentration MAC
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Conscious Sedation Timeline

• Plan to file 510(k) application on device in June
  2007
• If accepted, file IND applications and commence
  Phase III testing in 4th quarter of 2007
• SNDA filing expected later in second half 2008
• Pharmaceuticals to be manufactured in expanded
  Bethlehem facility
• Initial market entry second half 2009

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Global Product Roll-Out
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Investment Highlights

• Products address large and growing markets
• Anesthetics offer near-term revenue growth,
  profitability and operating cash flow
• Proprietary Image Guidance and Conscious Sedation
  technologies provide significant upside
• High barriers to entry phyiscal, IP, know-how

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MINRAD International, Inc. May 2007 (AMEXBUF)
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Image Guidance Growth Strategy

• Accepted in US and CE marked in Canada and Europe
  (EN13485)
• Sell direct in US
• Build international distribution network 20
  international contracts presently in place.
  Device registration typically takes 6-12 months.
• Develop new products and product line extensions
  annually
• Partner Light Sabre technology with OEM
  manufacturers and establish Minrad Inside as
  necessary feature for C-arm manufacturers