David Gee Joins Pharmexa as Director of Licensing

HORSHOLM, Denmark, March 14, 2002 (PRIMEZONE) -- Pharmexa today announced the appointment of David Gee as Director of Licensing. David joins Pharmexa to manage the out-licensing activities of the company and to further build on its impressive track record in forging research and development partnerships with pharmaceutical and biotech companies.

Immediately prior to joining Pharmexa, David was Director of New Technology Acquisition for Mundipharma International Limited in Cambridge, UK, the business development support company for the Purdue/Mundipharma/Napp associated companies. Before this, David held a number of positions with Altana and Byk Gulden in Strategic Management, Licensing and as COO of Altana Technology Projects GmbH, a $100 million industrial investment fund used to fuel deals made to bring new pharmaceutical research technologies to Byk Gulden.

David has an Honors Degree in Biological Sciences and began his working life in medical research at Cambridge University. He subsequently gained experience in a number of international sales and marketing roles for various pharmaceutical and healthcare companies before moving into a licensing and business development role some nine years ago.

"I had the privilege of managing due diligence with Pharmexa in the past and was impressed by all aspects of the company; the technology, the patents, the projects and most importantly, the people working in Horsholm," commented David Gee "I have had contact with many of the world's biotech companies and few impressed me as much as Pharmexa. It was an honour to be asked to join the team."

"Not only does the appointment of David Gee mark another milestone in Pharmexa's development," commented Birger Borregaard, COO at Pharmexa "he has excellent business experience in licensing, marketing and strategic management in the pharmaceutical industry. Pharmexa will benefit from his experience and the additional commercial competence that he brings."

To the editors

Pharmexa A/S (CSE:PHARMX) is a leading company in the field of therapeutic vaccines for the treatment of serious chronic diseases. Pharmexa's proprietary AutoVac(TM) pharmaccine technology platform is broadly applicable, but the company currently focuses its resources on a number of cancer forms and chronic inflammatory diseases, with research and development programs in breast cancer, rheumatoid arthritis, asthma, osteoporosis and allergy. The Pharmexa Group has 145 employees and has entered into collaborative agreements with Lexigen/Merck KgaA, Ferring, Schering-Plough Animal Health, H. Lundbeck, NeuroSearch and AstraZeneca. Additional information can be found on www.pharmexa.com.

For further information please contact Noonan Russo Presence on +44-20-7726 4452.


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