Elizabeth A. Corsi Appointed President of Zarix Limited HAMILTON, Bermuda (ots-PRNewswire) - John A. Kenward, Chairman and CEO of Zarix Limited announced on June 3 the promotion of Dr. Elizabeth A. Corsi, former Senior Vice President, DuPont-Merck Pharmaceuticals, to the Office of President. In announcing the appointment, John Kenward said, "Elizabeth is one of the most experienced individuals in the industry. Her background is particularly broad and encompasses business development, licensing, clinical development, regulatory affairs management, and marketing and sales management on a global basis for specialty areas such as oncology, hematology, urology and infectious disease. During the past year, Dr. Corsi has worked as the company's Executive Vice President, and has, after an already successful career, distinguished herself in that short period. She in-licensed the company's first drug candidate, earlier this year, a novel therapeutic, which shows activity in a broad range of malignancies, a novel mode of action, and exciting Phase III data. She also rapidly implemented key infrastructure and internal systems for the company's East Coast Headquarters, defined external systems, collaborators and personnel, and restarted the process of clinical development for the company's first drug in all its facets. Dr. Corsi is clearly ready to take on the mantle of full operating responsibility for the company." Before assuming her position at DuPont Merck, Dr. Corsi served as Vice President and Division Manager for Rhone-Poulenc Rorer Managed Care and Emerging Markets. She joined RPR as Vice President, New Product Planning and Business Development where her responsibilities included new product marketing, strategic planning and business development. She also served as General Manager for an Oncology and Infectious disease fully integrated business where she was responsible for clinical development, regulatory, manufacturing as well as the commercial functions. Dr. Corsi also directed Schering-Plough's International Division's oncology and anti-infective business unit where she developed the franchise considerably beyond INTRON and flutamide. Before joining the pharmaceutical industry, Dr. Corsi was involved in clinical practice focusing on oncology. John Kenward said, "Dr. Corsi will be responsible for defining and executing the Company's business development, clinical, regulatory, and marketing plans as well as managing day-to-day operations." She is a key figure in a senior management team focused on further product acquisitions, and developing fully the strategy for the company, other members include JohnKenward, CEO and former Senior Vice President for Marketing, Medical and Scientific Operations at Schering-Plough, the Chair of the Zarix Scientific Advisory Board, Dr. William A. Scott, and Medical Director, Dr. Margaret Gantt. Dr. Scott is the former Senior Vice President of Drug Discovery and Exploratory Research at Bristol-Myers Squibb. Dr. Gantt was the former head of clinical development at Lederle Laboratories. Their top priority will be to develop the company portfolio broadly addressing the needs of the cancer patient. Zarix licenses advanced oncology, hematology and anti- infective drug products. The Company identifies and acquires appropriate biopharmaceuticals, manages the clinical development, registration and will commercialize the company's portfolio in Europe. Zarix is evaluating its North American strategy. The Company's goal is to develop a leading cancer franchise and specialty marketing organization in Europe. Its first drug candidate is the novel thymidylate synthase inhibitor THYMITAQ(R), or nolatrexed, acquired from Agouron Pharmaceuticals Inc., in late 1998. Zarix will pursue the global development of the drug, beginning pivotal Phase III clinical trials in 2000 for malignancies where the drug has shown Phase II efficacy, with the goal of first commercialization in the 2002/3 timeframe. ots Original Text Service: Zarix Limited Internet: http://www.newsaktuell.de CONTACT: Melinda S. Bolognese, MA, of Zarix, Tel: (USA) 610-768-8061, or msb@zarix.com Web site: http://www.zarix.com/


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