PRESS RELEASE

Tuesday May 15

Company Press Release

SOURCE: BioMedicines, Inc.

BIOMEDICINES, INC. ANNOUNCES COMPLETION OF ENROLLMENT IN OMEGA INTERFERON U.S.
Phase 2 TRIAL

ALAMEDA, CA - May 15, 2001 - BioMedicines, Inc. today announced that it has completed enrollment in a Phase 2 clinical trial of its product omega interferon in patients with chronic hepatitis C which is resistant to current treatments.

Chief Executive Officer Dr. Mark Moran said, "Chronic hepatitis C is a contagious disease that infects almost 3 million people in the United States. One of our principal concerns is that most infected persons do not know that they are infected and are not aware of the danger that lack of diagnosis and treatment can pose."

The clinical trial of omega interferon in treatment-resistant hepatitis C is being conducted at the Scripps Institute in California. BioMedicines is also conducting a multi-center trial of omega interferon in Europe in patients who are being treated for the first time for chronic hepatitis C.

Chief Medical Officer Dr. Peter Langecker said, "Omega interferon is a natural human interferon that we produce by genetic engineering. Current therapies of hepatitis frequently fail to produce sustained benefits or are associated with significant side effects. We are developing omega interferon to address these medical needs."

Dr. Langecker also stated, "We intend to report the results of this clinical trial in full at a major hepatology meeting later this year."

BioMedicines, Inc., a privately held pharmaceutical company, is developing first line therapies for the treatment of cancer and infectious diseases. 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 G.D. Searle & Co. BioMedicines is headquartered in Alameda, California. More information about the company is available at www.biomedicinesinc.com.

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