08/11/2004

Pharminox appoints Peter Worrall as Chief Executive

Oxford, 8 November 2004 - Pharminox Ltd, (“Pharminox” or “the Company”), the private UK oncology company, today announced the appointment of Peter Worrall as Chief Executive Officer. Mr Worrall takes over from Sue Barrowcliffe, who is stepping down as Chief Executive but will remain on the Board as a non-executive director.

Mr Worrall has over 25 years’ experience in the life sciences industry. He was previously Corporate Development Director of Vernalis plc (formerly British Biotech plc). Before that he spent 10 years as Chief Financial Officer of Vernalis Group plc, becoming Acting Chief Executive in early 2003 prior to Vernalis’s merger with British Biotech. While at Vernalis, he raised over £120 million in private and public equity financings, including the company’s flotation on the main London Stock Exchange in May 1996, and negotiated a number of major corporate and licensing deals.

Commenting on today’s announcement, Dr Chris Wright, Chairman of Pharminox, said, “We are delighted to be able to announce Peter’s appointment today. He is an important addition to the management team and brings to Pharminox a wealth of financial and commercial experience which will be essential to the future growth and development of the Company as a significant player in oncology discovery and development.”

Mr Worrall added, “I am very pleased to be joining Pharminox at this exciting stage in the Company’s development. I have been impressed by the calibre of the people and the quality of the science and I am looking forward to working with the Pharminox team to build a world class oncology company.”

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