PRESS RELEASE

Tuesday, October 15, 2002

Company Press Release

SOURCE: BioMedicines, Inc.

BioMedicines, Inc. Names Deepa Pakianathan, Ph.D. to Board

Emeryville, Calif., October 15, 2002 - BioMedicines, Inc. today announced that Deepa Pakianathan, Ph.D. has been elected to the Company’s Board of Directors.

Dr. Pakianathan is a General Partner at Delphi Ventures where she focuses on biotechnology investments. Dr. Pakianathan was a senior biotechnology banker at JP Morgan, where she was involved in healthcare M&A transactions and public equity offerings that raised several billion dollars for biotechnology companies. After earning her Ph.D. in Immunology from Wake Forest University, Dr. Pakianathan began her career as a postdoctoral scientist in the Immunology Department at Genentech.

"I am very pleased to announce the appointment of Dr. Pakianathan," said Dr. Mark Moran, Chief Executive Officer of BioMedicines. " She is a banker, investor and scientist who has real insight into the capital markets."

Brian Atwood, Chairman of the Board of Directors said, " I welcome Deepa to the board. Her professional experience is unique and we expect her advice to be uniquely valuable."

BioMedicines, Inc., a privately held pharmaceutical company, is developing first line therapies for the treatment of cancer and infectious diseases such as hepatitis C. The company specializes in redirecting the development of drugs to new and more valuable indications. The company has current development and/or commercialization agreements with ALZA Corporation, Boehringer Ingelheim, Schering AG, and Searle. BioMedicines is headquartered in Emeryville, California. More information about the company is available at www.biomedicinesinc.com.

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