Aquasearch Names Richard L. Sherman to Board of Directors

Apr 19, 2001, 01:00 ET from Aquasearch, Inc.

    KAILUA-KONA, Hawaii, April 19 /PRNewswire/ -- Aquasearch, Inc.
 (OTC Bulletin Board:   AQSE) today named Richard L. Sherman as a member of the
 firm's board of directors.  Sherman is currently Managing Officer of QED
 Technologies, Inc. a Malvern, Pa.-based life science consulting firm.
     Sherman brings to Aquasearch more than 25 years experience in the
 bio-pharmaceutical industry.  He is a former deputy general counsel of
 SmithKline Beckman Corp. where for 13 years he structured and negotiated major
 commercial transactions, acquisitions and strategic alliances.  He managed
 SmithKline's legal department and accumulated experience in dealing with
 companies throughout Europe, Asia, Africa and the former Soviet Union.
 SmithKline merged in 2000 with Glaxo Wellcome to form GlaxoSmithKline.
     In 1992, he founded QED Technologies, which provides advice and counsel to
 science-based companies in maximizing their business and technology assets.
 QED's clients are pharmaceutical, biotechnology, chemical, diagnostic and
 medical device firms, universities and independent research centers,
 investment groups and funds.  QED is a wholly-owned subsidiary of The Omnicom
 Group (NYSE:   OMC).
     Since 1993, Sherman has also been a principal of CIP Capital Management,
 Inc. of Wayne, Pa., an SBIC investment firm in the life-science,
 communications, advanced materials and financial services industries.
     Sherman is a director of Biophage, Inc., a Montreal, Canada, biotechnology
 firm, and board member of the Pennsylvania Biotechnology Association.  He has
 served as director of IBAH, Inc., (now Omnicare Clinical Research), CytoMed,
 Inc., which was merged into Leukosite, Inc., and Sparta Pharmaceuticals, which
 was acquired by SuperGen Inc.
     Sherman holds a law degree from the New York University School of Law.  He
 graduated Phi Beta Kappa with a bachelor's degree from the University of
 Nebraska.
     "I believe Aquasearch has what the biopharmaceutical industry needs right
 now -- access to high-quality and well characterized new drug candidates,"
 said Sherman.  "The company's technology opens a pipeline to natural products
 from an entirely new source -- more than 30,000 species of microbial plants."
     "Dick Sherman brings extraordinary talent and experience to our board,"
 said Mark Huntley, Ph.D., Chief Executive Officer and Chairman of the
 Aquasearch Board of Directors.  "I expect our drug discovery initiative will
 benefit significantly from his guidance."
     At Aquasearch, Sherman will join existing board members Edward David, Earl
 Fusato, Mark Huntley, Peter Niiler and David Tarnas.
 
     "Safe-Harbor" Statement Under the Private Securities Litigation Reform Act
 of 1995
     This press release contains forward-looking information within the meaning
 of Section 21E of the Securities Exchange Act of 1934, including statements
 regarding the potential discovery of new drug candidates from microbial
 plants, the outcome of Aquasearch's drug discovery activities, as well as
 statements that include the words "believes," "expects," "anticipates," or
 similar expressions.  Such forward-looking statements involve known and
 unknown risks, uncertainties and other factors that may cause the actual
 results, performance or achievements of Aquasearch to differ materially from
 those implied or expressed by such forward-looking statements.  Such factors
 include, among others, the risk factors included in Aquasearch's Annual Report
 on Form 10-KSB for the fiscal year ended October 31, 2000 and any subsequent
 reports filed with the Securities and Exchange Commission under the Exchange
 Act.  This press release speaks as of the date first set forth above and
 Aquasearch assumes no responsibility to update the information included herein
 for events occurring after the date hereof.
 
     For further information, please contact:  Mark Huntley, President and CEO
 of Aquasearch, 808-326-9301, or Jeff Weaver, CEO of Western Financial
 Communications, 415-380-0744, for Aquasearch.
 
 

SOURCE Aquasearch, Inc.
    KAILUA-KONA, Hawaii, April 19 /PRNewswire/ -- Aquasearch, Inc.
 (OTC Bulletin Board:   AQSE) today named Richard L. Sherman as a member of the
 firm's board of directors.  Sherman is currently Managing Officer of QED
 Technologies, Inc. a Malvern, Pa.-based life science consulting firm.
     Sherman brings to Aquasearch more than 25 years experience in the
 bio-pharmaceutical industry.  He is a former deputy general counsel of
 SmithKline Beckman Corp. where for 13 years he structured and negotiated major
 commercial transactions, acquisitions and strategic alliances.  He managed
 SmithKline's legal department and accumulated experience in dealing with
 companies throughout Europe, Asia, Africa and the former Soviet Union.
 SmithKline merged in 2000 with Glaxo Wellcome to form GlaxoSmithKline.
     In 1992, he founded QED Technologies, which provides advice and counsel to
 science-based companies in maximizing their business and technology assets.
 QED's clients are pharmaceutical, biotechnology, chemical, diagnostic and
 medical device firms, universities and independent research centers,
 investment groups and funds.  QED is a wholly-owned subsidiary of The Omnicom
 Group (NYSE:   OMC).
     Since 1993, Sherman has also been a principal of CIP Capital Management,
 Inc. of Wayne, Pa., an SBIC investment firm in the life-science,
 communications, advanced materials and financial services industries.
     Sherman is a director of Biophage, Inc., a Montreal, Canada, biotechnology
 firm, and board member of the Pennsylvania Biotechnology Association.  He has
 served as director of IBAH, Inc., (now Omnicare Clinical Research), CytoMed,
 Inc., which was merged into Leukosite, Inc., and Sparta Pharmaceuticals, which
 was acquired by SuperGen Inc.
     Sherman holds a law degree from the New York University School of Law.  He
 graduated Phi Beta Kappa with a bachelor's degree from the University of
 Nebraska.
     "I believe Aquasearch has what the biopharmaceutical industry needs right
 now -- access to high-quality and well characterized new drug candidates,"
 said Sherman.  "The company's technology opens a pipeline to natural products
 from an entirely new source -- more than 30,000 species of microbial plants."
     "Dick Sherman brings extraordinary talent and experience to our board,"
 said Mark Huntley, Ph.D., Chief Executive Officer and Chairman of the
 Aquasearch Board of Directors.  "I expect our drug discovery initiative will
 benefit significantly from his guidance."
     At Aquasearch, Sherman will join existing board members Edward David, Earl
 Fusato, Mark Huntley, Peter Niiler and David Tarnas.
 
     "Safe-Harbor" Statement Under the Private Securities Litigation Reform Act
 of 1995
     This press release contains forward-looking information within the meaning
 of Section 21E of the Securities Exchange Act of 1934, including statements
 regarding the potential discovery of new drug candidates from microbial
 plants, the outcome of Aquasearch's drug discovery activities, as well as
 statements that include the words "believes," "expects," "anticipates," or
 similar expressions.  Such forward-looking statements involve known and
 unknown risks, uncertainties and other factors that may cause the actual
 results, performance or achievements of Aquasearch to differ materially from
 those implied or expressed by such forward-looking statements.  Such factors
 include, among others, the risk factors included in Aquasearch's Annual Report
 on Form 10-KSB for the fiscal year ended October 31, 2000 and any subsequent
 reports filed with the Securities and Exchange Commission under the Exchange
 Act.  This press release speaks as of the date first set forth above and
 Aquasearch assumes no responsibility to update the information included herein
 for events occurring after the date hereof.
 
     For further information, please contact:  Mark Huntley, President and CEO
 of Aquasearch, 808-326-9301, or Jeff Weaver, CEO of Western Financial
 Communications, 415-380-0744, for Aquasearch.
 
 SOURCE  Aquasearch, Inc.