PRESS RELEASE

Tuesday February 19, 2002

Company Press Release

SOURCE: BioMedicines, Inc.

BioMedicines, Inc. Names James Ahlers Chief Financial Officer

BioMedicines, Inc. today announced that it has named James Ahlers as Vice President of Finance and Operations and Chief Financial Officer. He will have responsibility for all financial activities, investor and public relations, as well as facilities management.

Mr. Ahlers received his baccalaureate degree in accounting from the University of San Francisco. He was a member of the audit group at Deloitte and Touche and subsequently managed financial planning and analysis for Medco Behavioral Care. Mr. Ahlers has served as a consultant to public and private biotechnology companies and has managed multiple initial and secondary public offerings. Most recently, Mr. Ahlers was Executive Director of Finance and Operations for BioMedicines.

"With the Board, I am very pleased to announce the promotion of Mr. Ahlers to CFO," said Dr. Mark Moran, Chief Executive Officer of BioMedicines. "Mr. Ahlers has both knowledge and talent with regard to all aspects of financial management for BioMedicines, and he has the confidence of both the board and our investors."

Mr. Ahlers said, "Managing a growing company is one of the most enjoyable, if challenging, jobs that I can imagine. Accountability, credibility, and careful management of our capital resources will be part of everything that we do as a company."

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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