Elizabeth A. Corsi Appointed President of Zarix Limited HAMILTON, Bermuda (ots-PRNewswire) - John A. Kenward, Chairmanand CEO of Zarix Limited announced on June 3 the promotion of Dr.Elizabeth A. Corsi, former Senior Vice President, DuPont-MerckPharmaceuticals, to the Office of President. In announcing the appointment, John Kenward said, "Elizabethis one of the most experienced individuals in the industry. Herbackground is particularly broad and encompasses businessdevelopment, licensing, clinical development, regulatory affairsmanagement, and marketing and sales management on a global basisfor specialty areas such as oncology, hematology, urology andinfectious disease. During the past year, Dr. Corsi has workedas the company's Executive Vice President, and has, after analready successful career, distinguished herself in that shortperiod. She in-licensed the company's first drug candidate,earlier this year, a novel therapeutic, which shows activity in abroad range of malignancies, a novel mode of action, and excitingPhase III data. She also rapidly implemented key infrastructureand internal systems for the company's East Coast Headquarters,defined external systems, collaborators and personnel, andrestarted the process of clinical development for the company'sfirst drug in all its facets. Dr. Corsi is clearly ready to takeon the mantle of full operating responsibility for the company." Before assuming her position at DuPont Merck, Dr. Corsi servedas Vice President and Division Manager for Rhone-Poulenc RorerManaged Care and Emerging Markets. She joined RPR as VicePresident, New Product Planning and Business Development whereher responsibilities included new product marketing, strategicplanning and business development. She also served as GeneralManager for an Oncology and Infectious disease fully integratedbusiness where she was responsible for clinical development,regulatory, manufacturing as well as the commercial functions.Dr. Corsi also directed Schering-Plough's InternationalDivision's oncology and anti-infective business unit where shedeveloped the franchise considerably beyond INTRON and flutamide.Before joining the pharmaceutical industry, Dr. Corsi wasinvolved in clinical practice focusing on oncology. John Kenward said, "Dr. Corsi will be responsible for definingand executing the Company's business development, clinical,regulatory, and marketing plans as well as managing day-to-dayoperations." She is a key figure in a senior management teamfocused on further product acquisitions, and developing fully thestrategy for the company, other members include JohnKenward, CEOand former Senior Vice President for Marketing, Medical andScientific Operations at Schering-Plough, the Chair of the ZarixScientific Advisory Board, Dr. William A. Scott, and MedicalDirector, Dr. Margaret Gantt. Dr. Scott is the former SeniorVice President of Drug Discovery and Exploratory Research atBristol-Myers Squibb. Dr. Gantt was the former head of clinicaldevelopment at Lederle Laboratories. Their top priority will beto develop the company portfolio broadly addressing the needs ofthe cancer patient. Zarix licenses advanced oncology, hematology and anti-infective drug products. The Company identifies and acquiresappropriate biopharmaceuticals, manages the clinical development,registration and will commercialize the company's portfolio inEurope. Zarix is evaluating its North American strategy. TheCompany's goal is to develop a leading cancer franchise andspecialty marketing organization in Europe. Its first drugcandidate is the novel thymidylate synthase inhibitorTHYMITAQ(R), or nolatrexed, acquired from Agouron PharmaceuticalsInc., in late 1998. Zarix will pursue the global development ofthe drug, beginning pivotal Phase III clinical trials in 2000 formalignancies where the drug has shown Phase II efficacy, with thegoal of first commercialization in the 2002/3 timeframe. otsOriginal Text Service: Zarix Limited Internet:http://www.newsaktuell.de CONTACT: Melinda S. Bolognese, MA, ofZarix, Tel: (USA) 610-768-8061, or msb@zarix.com Web site:http://www.zarix.com/

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