For Immediate Release, February 25, 2003

TORONTO, ONTARIO (February 25, 2003) – Affinium Pharmaceuticals, Inc., a leader in structure guided drug discovery, today announced appointments of new Senior Directors in Chemistry and Structural Biology, and new roles for three existing senior executives.

Dr. Klaus Fiebig is appointed Senior Director, Structural Biology, with overall responsibility for leading and enhancing Affinium’s team efforts in NMR and X-Ray Crystallography. Dr. Fiebig earned his Ph.D. in Pharmaceutical Chemistry from the University of California, San Francisco and his undergraduate degrees in Physics from the Technical University, Munich, Germany. He completed post doctoral work at the Oxford Centre for Molecular Science, University of Oxford, U.K. and Department of Molecular Biophysics and Biochemistry, Yale University, and was the recipient of post doctoral fellowships from the Burroughs Wellcome Fund and the Howard Hughes Medical Institute. Dr. Fiebig was most recently CEO and Co-Founder of MRPharm GmbH, Frankfurt/Main, Germany.

Dr. Henry Pauls is appointed Senior Director, Medicinal Chemistry, with responsibility for expanding Affinium’s medicinal chemistry for drug discovery programs both internal to the company, and as part of strategic alliances. Dr. Pauls holds his Ph.D. in Synthetic Organic Chemistry from Duke University, and his undergraduate degree in Biology and Chemistry from the University of Waterloo. He is the author of more than thirty five refereed publications and co-inventor of more than fifteen patents. Dr. Pauls served as a Research Scientist at Allelix Biopharmaceuticals Inc. of Mississauga, Ontario before joining Rhone-Poulenc Rorer as Senior Research Scientist, and subsequently Section Manager in Cardiovascular Chemistry. Prior to joining Affinium, Dr. Pauls was Chemistry Team Leader with Aventis Pharma, where he was responsible for leading project teams in asthma and inflammation therapies. Dr. Pauls’ work has resulted in the identification of several development compounds and a clinical candidate.

In addition to these new appointments, Affinium has recognized the contributions of existing executives through promotions and changes in title to reflect the scope of their ongoing contributions. Dr. Molly B. Schmid becomes Senior Vice President, Pre-Clinical Programs, assuming responsibility for Affinium’s pre-clinical drug activities. Dr. Raymond Hui is appointed Vice President, Engineering and Process Improvement, reflecting his role in the scientific management of the company. Dr. Joanne E. Harack is named Vice President, Human Resources and Corporate Communications, reflecting her role in corporate communications, as well as in building Affinium’s human capital.

“We are very pleased to be building our team with the appointments of Drs. Fiebig and Pauls in the critical areas of structural biology and medicinal chemistry. These appointments are strategic to accelerating our internal programs and driving our pharmaceutical partner relationships. We also recognize the outstanding leadership efforts of Drs. Schmid, Hui, and Harack in advancing Affinium’s goal of creating a sustainable clinical pipeline through scientific innovation, automation of the drug discovery process, and outstanding people.” stated John D. Mendlein, Affinum’s CEO.

Affinium Pharmaceuticals is a structure guided drug discovery company. Affinium is actively engaged in its own internal small molecule programs. The Company’s proprietary, integrated drug discovery process is designed for rapid advancement of small molecule programs from gene to clinic. The Company’s processes enable high throughput target production, determination of target function, and visualization of target structure with bound hits and leads to accelerate chemistry in the discovery of new medicines. The Company also integrates the premier discovery capabilities of Vertex pharmaceuticals to advance Affinium’s internal drug discovery efforts. Affinium’s processes feature mass spectrometry, NMR (nuclear magnetic resonance) spectroscopy and X-ray crystallography technologies from Bruker Daltonics, Bruker BioSpin and Bruker AXS respectively. The Company’s investors include the Lombard Odier Immunology Fund, Schweizerhall Holding AG, Genesys Capital Partners Inc., and HBM BioVentures, as well as industrial partners Vertex and the Bruker Companies.

Affinium and Affinium Pharmaceuticals are trademark names of the Company.