Patheon Announces Board Appointments

Toronto, Canada (April 27, 2007) – Patheon Inc. announced today that three representatives from JLL Partners, Paul S. Levy, Ramsey A. Frank, and Thomas S. Taylor, have joined Patheon’s Board of Directors, effective immediately.  These appointments to the Board follow the approval by Patheon’s shareholders on April 19, 2007 of a US$150 million convertible preferred share investment in Patheon by JLL Partners.    

“We are pleased to welcome Messrs Levy, Frank and Taylor to our Board of Directors,” said Mr. Peter Green, Chairman of Patheon.  “They are highly experienced investors who have significant knowledge of the healthcare sector, having made a number of successful investments in this space.  We look forward to working with them to drive strong growth in Patheon’s revenues and earnings.” 

Paul Levy is a Managing Director of JLL Partners, which he founded in 1988.  Prior to that, he served as a Managing Director of Drexel Burnham Lambert and as a Chief Executive Officer of Yves Saint Laurent, Inc. He has also worked as Vice President of Administration & General Counsel of Quality Care, Inc. and as an attorney at Stroock & Stroock & Lavan LLP.

Ramsey Frank is a Managing Director of JLL Partners, which he joined in 1999.  Prior to joining JLL, Mr. Frank served as a Managing Director of Donaldson, Lufkin & Jenrette Securities Corporation and as a Managing Director of Smith Barney & Co.      

Thomas Taylor joined JLL in 2005 after serving as President and CEO of EPIX Holdings, a human resource outsourcer.  Prior to that, he served as Vice President and Chief Financial Officer of Colorado Prime Corporation. He has also worked at Kraft Foods as Vice President of Finance and Strategy and at Central Soya as Vice President and Controller. 

ABOUT PATHEON

Patheon (TSX:PTI; www.patheon.com) is a leading global provider of drug development and manufacturing services to the international pharmaceutical industry. Patheon operates a network of 14 facilities in the United States, Canada and Europe, employing more than 5,300 people and serving a client base of 250 pharmaceutical and biotechnology companies.

ABOUT JLL PARTNERS

Founded in 1988, JLL Partners is a leading New York-based private equity investment firm with $3.2 billion of capital under management. JLL’s investment philosophy is to partner with outstanding management teams and invest with them in companies that they can continue to grow into market leaders. JLL has invested in a variety of industries, with a specific focus on healthcare services, financial services, business services and building products. More information regarding JLL can be found on its website, www.jllpartners.com.