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Martin L. Olsson, M.D., Ph.D. Joins ZymeQuest As Consultant In Transfusion Science



10/19/2005 5:09:34 PM

BEVERLY, Mass.--(BUSINESS WIRE)--Dec. 22, 2003--

World Renowned Expert in Transfusion Medicine Will Advise Company in Its Ongoing Research and Development of Blood Conversion Technologies and Products

Olsson Also Named Visiting Associate Professor at Harvard Medical School

ZymeQuest(R), Inc., a worldwide leader in the discovery, development and commercialization of blood conversion products for use in blood transfusion medicine, announced today that Martin L. Olsson, M.D., Ph.D. has joined the company as Consultant in Transfusion Science. His primary responsibilities at ZymeQuest include work related to optimization of the company's blood group conversion methods and the eventual use of this important technology by regional blood centers and hospitals. Dr. Olsson has also been appointed Visiting Associate Professor at Harvard Medical School and will serve as a member of the faculty of its teaching hospital, Beth Israel Deaconess Medical Center, in Brookline, Massachusetts.

"We are delighted to be joined by a professional of Dr. Olsson's stature," stated Douglas L. Clibourn, president and CEO of ZymeQuest. "His expertise and experience in transfusion medicine and blood group genetics is particularly relevant to ZymeQuest's development and commercialization of blood conversion products for use in blood transfusion medicine. We anticipate that Dr. Olsson's contributions will be instrumental in helping to move the company through its next period of product development and implementation."

Dr. Olsson will also continue to serve as Consultant Physician in transfusion medicine and Deputy Director at the Blood Centres in Skane, Sweden, including the University Hospital Blood Centre in Lund, Sweden. Dr. Olsson holds an M.D. and a Ph.D. in molecular genetics of the ABO blood group system from Lund University where he is an Associate Professor at the Institute of Laboratory Medicine, Lund University. He is licensed as a Registered Physician and holds a Specialist Diploma in Clinical Transfusion Medicine including Transplantation Immunology, both awarded by the National Board of Health and Welfare in Stockholm, Sweden.

In 2000, the International Society of Blood Transfusion awarded the Jean Julliard Prize for "an eminent research contribution by a researcher below the age of 40 within the field of blood transfusion" to Dr. Olsson. He has written and lectured extensively on subjects related to transfusion medicine and is a member of numerous academic associations.

About ZymeQuest, Inc.

ZymeQuest, Inc., located in Beverly, Massachusetts, is a privately owned company pioneering the discovery, development and commercialization of enzymatic blood conversion products for use in blood transfusion medicine. ZymeQuest's technology is based on the use of proprietary enzymes and state-of-the-art processes to convert human red bloods cells from blood groups A, B, and AB to enzyme converted group O (ECO) cells. Group O red cells are known as universal red blood cells because they can be transfused safely to recipients of any ABO blood group without the risk of morbidity or mortality associated with a transfusion of incompatible red cells. ZymeQuest believes, and preliminary clinical trial results indicate, that ECO red cells will function like group O universal red cells. A universally transfusable inventory of red blood cells could decrease the cost and complexity of inventory management, reduce the number of red cells lost due to outdating and improve the safety of red cell transfusions. The system is currently in clinical testing. For more information about ZymeQuest, visit the company's website at www.zymequest.com.

Contacts

ZymeQuest(R), Inc. Douglas Clibourn, 978-232-8370 dclibourn@zymequest.com or Sharon Merrill Associates, Inc. Timothy D. Green, 617-542-5300 tgreen@investorrelations.com


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