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Nobex Corporation Announces Change To Executive Team


10/19/2005 5:12:17 PM

RESEARCH TRIANGLE PARK, N.C., Sept. 19 /PRNewswire/ -- NOBEX Corporation, a U.S. based drug development company specializing in oral peptide therapeutics, announced today that Christopher H. Price, Ph.D. has resigned to pursue other business opportunities. Dr. Price will serve as a consultant to the Company's management team and board of directors. Effective immediately, Charles L. Dimmler, III, Chairman of the Board of NOBEX since April 2004, will assume Dr. Price's former responsibilities.

Since he joined NOBEX in 1997, Dr. Price has played an integral role in the advancement of the Company's proprietary development pipeline. Since October 2004, NOBEX has established global development partnerships for two of its lead compounds with Biocon Limited [Bangalore, India]. Under Dr. Price's leadership, NOBEX advanced three product candidates into clinical development and initiated multiple licensing and R&D collaborations with several pharmaceutical and biotechnology companies.

"Chris has built a strongly focused foundation in product technology development for NOBEX over the last eight years," stated Mr. Dimmler. "This organization has benefited greatly by his leadership, vision, and insightful technical guidance. We look forward to his continuing engagement with us in his new consulting role."

Mr. Dimmler is the founder and managing principal of a private investment management firm specializing in life science businesses. He currently serves on the boards of directors of several companies, including Gene Logic, Inc. and Preferred Global Health Ltd. Mr. Dimmler is an investment advisor to the healthcare investment funds of Danske Bank, Copenhagen, and he serves as Chairman of the Board of Trustees of the Huntington's disease Society of America.

"In his new role, Charles will take the lead in the efforts to secure NOBEX's healthy financial future," said Michael Hsu, Director and Board Member for NOBEX. "His day-to-day involvement in financial strategy and execution and expertise in strategic partnership negotiations will be critical to further build on NOBEX's corporate development."

About NOBEX

NOBEX Corporation is a private preclinical stage biopharmaceuticals company specializing in the development of oral peptide therapeutics. NOBEX's unique core expertise is its proprietary medicinal and polymer chemistry. Its product development focus is metabolic and cardiovascular disease. NOBEX's two lead product candidates are Oral insulin to treat diabetes Type II and Oral BNP to treat heart failure and potentially other cardiovascular indications. The Company has been based in the Research Triangle Park, North Carolina since its original formation in 1993. For more information, visit http://www.nobexcorp.com.

Contact: NOBEX Corporation Noonan Russo Vicki Morgan Emily Poe Tel: (919) 433-2231 (212) 845-4266 NOBEX media kit and fact sheets available at http://www.nobexcorp.com

NOBEX Corporation

CONTACT: Vicki Morgan, of NOBEX Corporation, +1-919-433-2231; or EmilyPoe, of Noonan Russo, +1-212-845-4266



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