eXegenics, Inc. Announces Senior Management Appointments --Company Intends to Change its Name to Opko Health--



    MIAMI, May 4 /PRNewswire-FirstCall/ -- eXegenics, Inc., (OTC Bulletin
 Board: EXEG), doing business as Opko Health, today announced appointment of
 its senior management team. Dr. Philip Frost will remain the company's
 Chairman and Chief Executive Officer. Board of Directors' member Dr. Jane
 Hsiao becomes Vice Chairman of the Board and Chief Technology Officer.
 Board member Steven D. Rubin is taking on the additional position of
 Executive Vice President - Administration and Dr. Rao Uppaluri becomes
 Senior Vice President - Chief Financial Officer.
     Dr. Jane Hsiao is the former Vice Chairman and Chief Technical Officer
 of IVAX Corporation and Steven Rubin is the former Senior Vice President,
 General Counsel and Secretary of IVAX. Dr. Rao Uppaluri was formerly
 Treasurer and Vice President of Strategic Planning at IVAX.
     The company has also filed the necessary documents to change its name
 to Opko Health, Inc. and is applying for listing on the American Stock
 Exchange. The name change and American Stock Exchange application processes
 are expected to be finalized within 6-8 weeks.
     Current eXegenics' President Dr. Dale Pfost, the former Chairman and
 CEO of Acuity Pharmaceuticals, which merged with eXegenics last month, has
 resigned to pursue other professional interests.
     "We are fortunate to have access to such a strong team of experienced
 health care executives as we move to build Opko Health into a diversified
 operating company," said Dr. Frost. "This team has been highly successful
 working together in the past and we look forward to new successes going
 forward. I also want to thank Dale Pfost for his contributions and we wish
 him the best in his future endeavors."
     About eXegenics/Opko Health
     Miami-based eXegenics (doing business as Opko Health) was recently
 reconstituted as a specialty healthcare company through a 3-way merger with
 private companies Acuity Pharmaceuticals Inc. and Froptix, Inc. Its product
 portfolio includes the pioneering gene silencing agent bevasiranib, which
 has successfully completed Phase ll clinical trials for wet age-related
 macular degeneration and diabetic macular edema; a novel clinical stage
 product for conjunctivitis; and a pipeline of preclinical candidates that
 include novel agents to treat dry age-related macular degeneration and
 other ophthalmic diseases. The company also intends to market selected
 diagnostic products that are complementary to its therapeutic programs.
     This press release contains "forward-looking statements," as that term
 is defined under the Private Securities Litigation Reform Act of 1995
 (PSLRA), regarding product development efforts and other non-historical
 facts about our expectations, beliefs or intentions regarding our business,
 technologies and products, financial condition, strategies or prospects.
 Many factors could cause our actual activities or results to differ
 materially from the activities and results anticipated in forward-looking
 statements. These factors include those described in our filings with the
 Securities and Exchange Commission, as well as risks inherent in funding,
 developing and obtaining regulatory approvals of new, commercially-viable
 and competitive products and treatments, including the risks that advanced
 clinical trials for our lead product candidate, bevasiranib, may not be
 commenced or completed on a timely basis or at all, that any of our
 compounds under development, including bevasiranib, may fail, may not
 achieve the expected results or effectiveness and may not generate data
 that would support the approval or marketing of products for the
 indications being studied or for other indications. In addition,
 forward-looking statements may also be adversely affected by general market
 factors, competitive product development, product availability, federal and
 state regulations and legislation, the regulatory process for new products
 and indications, manufacturing issues that may arise, patent positions and
 litigation, among other factors. We do not undertake any obligation to
 update forward-looking statements. We intend that all forward- looking
 statements be subject to the safe-harbor provisions of the PSLRA.
     Contacts:                       Media:
     Corporate:                      GendeLLindheim BioCom Partners
     Steven D. Rubin                 Barbara Lindheim
     305 575 6015                    212 918-4650
 
 

SOURCE eXegenics, Inc.

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