Collgard Biopharmaceuticals Appoints New CEO Dr. Bruce Bach New CEO brings experience and track record for successfully developing a clinical stage biopharmaceutical company August 21, 2002, Boston, MA - Collgard Biopharmaceuticals (www.collgard.com), announced today the appointment of Bruce Bach, M.D., Ph.D., FACP, as the company's new CEO. Dr. Bach is known for his contribution in transitioning clinical stage biotechnology companies into successful businesses. Collgard is a tissue therapeutics company developing Tempostatin™ (Halofuginone hydrobromide) as a platform technology for managing tissue response to injury that significantly impacts the progression of organ failure, restenosis and selected cancers. "Because Dr. Bach has an ideal combination of Fortune 500 and development stage company experience, Collgard has gained a skilled business leader with the ability to expand the company's expertise in disease modification, its drug development platform, and accelerate its clinical drug development. We believe that Dr. Bach is uniquely qualified to lead Collgard in its pursuit to develop tissue level therapeutics as breakthrough therapy for diseases of the heart, kidney and liver as well as highly specific therapeutics for bladder cancer, sarcomas, and melanoma," said Ehud Geller, Ph.D., Chairman of Collgard Biopharmaceuticals Ltd and Managing Partner at Medica Venture Partners. Prior to joining Collgard, Dr. Bach was the Founder and Managing Director of MTBC Group, a biotechnology venture-consulting firm located in Atlanta, Georgia. Dr. Bach has been CEO of four development stage biotechnology companies involving device, drug, and bioinformatics technology and thus has experience in leading development stage companies that include both general management and research and development. He has been a senior executive in the global medical technology company Becton Dickinson and Company and has also served as the Corporate Medical Director and Worldwide Clinical Research Director at BD Biosciences (Immunocytometry). "An experimental pathologist and internist with experience as a CEO in development stage companies, Dr. Bach brings a tremendous combination of skill and knowledge to Collgard's mission of developing a family of oral agents for regenerative medicine," said Dr. Yael Margolin, V.P. of Denali Ventures LLC, a board member and investor of Collgard. Before joining the biotechnology industry, Dr. Bach served as a member of the Howard Hughes Medical Research Institute and was a clinical Professor of Medicine at the University of California San Francisco. Dr. Bach received his M.D. at Washington University in St. Louis and his Ph.D. in Experimental Pathology and Immunology at Harvard Medical School. He is Board Certified in Internal Medicine and is a Fellow of the American College of Physicians. "Until now there have been no effective treatments to restore or preserve organ system function after tissue damage. Tempostatin™ unlocks a new approach to repairing and protecting living tissue," said Collgard CEO Dr. Bruce Bach. "Tempostatin™ stands alone as a tissue therapeutic because it has the potential to address the fundamental tissue repair process and thereby effect a series of different diseases. I am very pleased to be working with the Collgard team to develop this promising new class of tissue therapeutics." About Collgard Biopharmaceuticals Founded in 1996, Collgard Biopharmaceuticals is a clinical stage tissue therapeutics company, led by a global team of medical and drug development experts from Boston to Atlanta to Tel Aviv. Collgard's tissue therapeutics product and platform technology is based on Tempostatin™ (Halofuginone hydrobromide). Tempostatin™, a fully synthetic small molecule, is a potent and selective regulator of stromal cell activation, cell migration and Collagen type I synthesis, a process that Collgard has identified as a "master switch" in the body's tissue repair process. The company is currently engaged in Phase II clinical studies evaluating a novel approach to the prevention and treatment of organ failure, restenosis and specific cancers. Scientific and clinical collaborators include the Mayo Clinic, the NCI, the EORTC and Harvard Medical School. Collgard was founded by Medica Venture Partners. Additional investors include Mayo Medical Ventures, Denali Ventures, the Yozma Group, and Comsor. Back