Newly Created Company to Focus on Therapeutic Vaccines For Human Disease and Bio-Terrorism

Pleasanton, CA - March 5, 2003 /PRNewswire/
Juvaris BioTherapeutics, Inc. today announced the appointment of the experienced biotechnology entrepreneur and dealmaker, Mr. Martin D. Cleary, as its Chairman, President and Chief Executive Officer. Juvaris is a privately held therapeutic vaccine company, formed in 2002, which owns exclusive rights to novel technology platforms developed at the National Jewish Medical and Research Center in Denver, Colorado.

Juvaris BioTherapeutics was created to develop immunotherapeutic treatments for infectious diseases and cancer using lipid-DNA complexes. The DNA in these complexes does not code for protein; instead, through a synergistic effect of being complexed with lipids, it strongly stimulates the immune system. In preclinical studies, these complexes have been shown to be up to 50-times more potent at triggering immune activation and interferon release than the best current immune stimulants. Research conducted at Juvaris BioTherapeutics and the National Jewish Medical and Research Center has also demonstrated that this system, when combined with antigens, produces extremely effective disease-specific vaccines.

These lipid-DNA complexes (JuvImmune) are highly effective adjuvants, that is, generalized immune stimulants. In combination with very low antigen doses, these complexes become potent vaccines (JuvaVax) that induce specific CD8+ ("killer") and CD4+ ("helper") T-cell responses. The immune responses induced using this method are more potent than responses elicited by conventional approaches, including dendritic cell and viral-vectored vaccines. The immunological responses the system elicits have been successfully demonstrated in a variety of mammals, including primates. Juvaris's co-founders and company scientists believe this approach to be a new frontier in therapeutic vaccine design. The Juvaris technology platform is expected to provide a robust and specific immune response-generating capability that is significantly greater than any existing technology.

In commenting on the appointment, Mr. Cleary said, "I am impressed with the quality and depth of the science developed by the company's founders. Although Juvaris is a new company, we arrive on the scene with a comprehensive array of pre-clinical scientific data that will add value going forward. I believe the potential to partner this technology is strong. We will aggressively pursue vaccines for cancer and AIDS. As an adjuvant, we believe that JuvImmune will also be useful in enhancing the effectiveness of a wide variety of current and future anti-bioterror agents. I am delighted to become part of this important new effort."
The scientific founders of Juvaris include Steven Dow, DVM, Ph.D., associate professor in the College of Veterinary Medicine, Colorado State University, and Jeff Fairman, Ph.D., an industry consultant and experienced scientist in the use of cationic lipid-DNA complexes. Dr. Fairman joined the company on February 15, 2003 as Director of Research.

Mr. Cleary is a health care/biotech industry executive with successful and productive experience in both established and early stage companies. He has a history of providing consistent and rapid financial return to investors. His background also includes broad-based general management accomplishments, and a proven track record for building successful organizations. He is widely recognized as a seasoned leader and among the strongest dealmakers and fundraisers in the industry. Since 1986, Mr. Cleary has raised over $300 million in equity and partnership funds.

Mr. Cleary recently completed a three-year association with Genteric, Inc. advancing its protein drug delivery technology platforms. Between 1999 and 2002 under his direction as President, CEO and a Director, the company raised $32 million in two venture investments and he developed Genteric into a leader in non-viral gene delivery. Mr. Cleary was co-founder, President and CEO of CardioGene Therapeutics, a leading cardiovascular gene therapy company, from its inception in 1996 until its successful merger with Boston Scientific Corporation in 1998.

From 1993 to 1994, he was President, CEO and a Director of Theragen, a diversified gene-therapy company, which he successfully merged, with GenVec, Inc. of Rockville, Maryland. From 1994 to 1996, he served as a member of the Board of Directors of GenVec, Inc. From 1986 to 1993, he was Group Vice President and Chief Financial Officer of Cytogen Corporation, a biotech company engaged in the development of cancer diagnostics and therapies using monoclonal antibodies. Prior to joining Cytogen, Mr. Cleary held several senior management positions with Johnson & Johnson over a 14-year career. Between 1980 and 1986 while serving as Vice President of Operations at J&J's medical device subsidiary, Iolab Corporation, the company enjoyed compound growth rates of 40% in sales and 50% in income on revenues in excess of $100 million.

About Juvaris BioTherapeutics
Juvaris is a privately held therapeutic vaccine company, formed in 2002, which owns exclusive rights to novel technology platforms developed by one of its scientific founders at the National Jewish Medical and Research Center in Denver, Colorado. Given the demonstrated capabilities of its approach in extensive pre-clinical testing, the company believes this technology platform will lead to the development of superior therapeutic vaccines. Specific applications will include anti-bacterial, anti-viral and anti-cancer products. The Juvaris management team and its advisors have a proven track record in corporate venture financing; building shareholder value, and execution of strategies that realized substantial returns on investment for shareholders.

Contact: Martin D. Cleary of Juvaris BioTherapeutics Inc., 1-925-399-6200, mdcleary@juvaris.com; or media, Anette Breindl, Ph.D. of Atkins + Associates, 1-858-527-3489, abreindl@irpr.com, for Juvaris BioTherapeutics, Inc.