Panacea Pharmaceuticals, Inc. Appoints Vice President for Business Development and Director of Diagnostic Division

ROCKVILLE, Md.--(BW HealthWire)--June 8, 2000--Panacea Pharmaceuticals,
Inc. is pleased to announce that Alan H. Deutch, Ph.D., has joined Panacea as Vice President for Business Development and Director of the Diagnostic Division.

Dr. Deutch brings with him extensive experience and skills in intellectual property and technology licensing matters, business development, and the management of sponsored research programs. His thorough knowledge of global diagnostic markets positions Panacea's Diagnostic Division for rapid growth.

Dr. Deutch was most recently Director of Strategic Ventures and Licensing at Specialty Laboratories in Santa Monica, California, a large privately-held international clinical diagnostic laboratory, where he was responsible for virtually all patent, freedom-to-operate, and technology licensing activities.

Prior to that, Dr. Deutch spent more than thirteen years at W. R. Grace & Company in their corporate research and development division, where he served as Senior Scientist and later as Department Head for the BioMolecular Research Department. Dr. Deutch also worked as Group Leader of the Microbial Genetics Group at Bethesda Research Laboratories, Inc., which later became Life Technologies.

"We are delighted to have Alan join Panacea. His experience and record of achievement will provide an immediate impact in matters pertaining to licensing and development opportunities with existing and prospective partners," said Hossein A. Ghanbari, Ph.D., President and CEO of Panacea. "Alan's expertise will enable us to aggressively pursue in-licensing opportunities for our Diagnostic Division."

Panacea Pharmaceuticals, Inc. focuses on developing and utilizing protein-based technologies to detect and identify changes associated with and involved in diseases of the central nervous system such as Alzheimer's disease, brain tumors, transmissible spongiform encephalopathies, and Lewy Body diseases such as Parkinson's disease.

Changes in disease-relevant proteins by altered expression, post-translational modification, and functional variation are utilized to develop diagnostic tests and therapeutic agents.