Leading VC firm names former Johnson & Johnson senior executive Tom Amick to Board

PHILADELPHIA, PA, July 07, 2004 - Quaker BioVentures, a Philadelphia-based venture capital firm focused on investing in life sciences companies in the Mid-Atlantic, today announced the appointment of former Johnson & Johnson senior executive, W. Thomas Amick, to its Advisory Board.

During his 30-year career with Johnson & Johnson, Amick was instrumental in starting the company's biotechnology/oncology business. He then advanced to the position of Vice President of the Oncology Franchise where he developed one of the most successful businesses in the history of Johnson & Johnson. Mr. Amick also held positions of increasing responsibility, including President of Janssen-Ortho and President of Ortho Biotech Europe, when he oversaw the operation of separate companies in Germany, France, Italy, England and Canada. He finished his career with Johnson & Johnson as Vice President of J&J Development Corporation.

"We are enthusiastic about Tom's addition to our Advisory Board," said Sherrill Neff, Managing Partner, Quaker BioVentures. "His 30 years of experience with Johnson & Johnson and his expertise in the commercialization of biotechnology products will add significant depth to our existing board. In addition, his track record of outstanding leadership both nationally and internationally will bring a valuable understanding of biopharmaceuticals, corporate development, and business operations to the Quaker Advisory Board."

"I am thrilled to be a part of the Quaker BioVentures Advisory Board," said Amick. "Venture capital firms are the lifeline for young and emerging biotechnology companies. I am excited about Quaker's focus on the opportunities in the Mid-Atlantic. In joining the Quaker team, I hope to use my experience in commercializing biotechnology products to make significant contributions to their portfolio companies."

Quaker BioVentures is a Philadelphia-based venture capital firm that considers investment opportunities across the life science industry in varying stages of development, from early stage businesses to public companies. The fund is particularly interested in companies focused on biopharmaceuticals, including the development of human therapeutic products and the pursuit of platform technologies for the biopharmaceutical industry. In less than two years, Quaker has raised over $250 million for its inaugural fund, and has developed an impressive portfolio by co-leading investments in the following companies: BioRexis Pharmaceuticals, a King of Prussia, PA-based company that develops novel protein and peptide therapeutics; Biolex, a North Carolina based company developing dramatic new production technologies for high volume and hard-to-make proteins; Discovery Laboratories, a Doylestown, PA based company developing novel surfactants for respiratory disease; Medmark, a Pittsburgh specialty pharmacy that provides specialty drugs to patients with chronic illnesses; and Eximias Pharmaceuticals, a Berwyn, PA specialty pharmaceutical company that has two cancer therapies in later stage trials.

About Quaker BioVentures (Quaker)
Quaker BioVentures is a $250 million venture capital firm dedicated to investing in life science companies located in the Mid-Atlantic region. The firm leads investments in companies across the spectrum of the life science industry, including biopharmaceuticals, medical devices, human diagnostics, health information technology and healthcare services. Quaker invests in companies at varying stages of development, from early stage businesses to public companies. For more information about Quaker, please visit www.quakerbio.com.