Transave, Inc. Appoints Timothy G. Whitten President And Chief Executive Officer

Monmouth Junction, NJ, June 19, 2006: Transave Inc., a biopharmaceutical company developing inhaled liposomal formulated drugs for treating life threatening lung disease, today announced the appointment of Timothy G. Whitten as President and Chief Executive Officer. Mr. Whitten will succeed Dr. Frank Pilkiewicz, Founder of Transave, who will continue to support the company in a senior consulting role.

Donald J. Hayden, Executive Chairman of Transave commented, “Transave is extremely pleased that Tim Whitten has accepted this role to continue to build Transave into a world class biopharmaceutical company. As our innovative Phase II SLIT™ programs for treating P. aeruginosa infections in cystic fibrosis and lung cancer continue to advance to late stages, Tim’s leadership will be invaluable for implementing future development and commercialization strategies.”

“I am indeed excited to accept this opportunity and look forward to leading Transave as it enters this new phase of growth. Transave’s unique, proprietary SLIT™ Technology holds the potential to bring improved treatments to patients suffering from life threatening lung diseases while also providing the basis for a robust pipeline of inhaled products,” said Mr. Whitten. “I look forward to working with the outstanding Transave team and Board of Directors to help lead the future success of the company.”

Mr. Whitten joins Transave from Pharmacyclics where he served as Senior Vice President of Commercial Operations and Development since 2001. Prior to Pharmacyclics, he served as Vice President, Global Marketing, Oncology at BMS. During his 16 years in marketing, sales and strategic planning at BMS, Mr. Whitten led the successful U.S. launch and marketing of Taxol® (paclitaxel) Injection, an oncology product that eventually reached $1 billion in annual sales. Later, as Vice President, Marketing, Oncology and Immunology, he was responsible for sales of over $1.3 billion from 23 products, directing marketing and sales efforts to key customers, including large physician group practices, group purchasing organizations and major hospital chains. He earned his master's degree in business administration from Colgate Darden Graduate School of Business Administration at University of Virginia and received his pharmacy degree from West Virginia University.

“The entire Transave team and Board of Directors express our sincere gratitude for Frank Pilkiewicz’s years of inspired leadership, tireless efforts and scientific innovation in the development of Transave” said Mr. Hayden. “As the Founder of Transave, Frank originated the idea of delivering liposome formulated therapeutics to the lung to treat life threatening lung diseases. Under his leadership, this idea has now become a reality with two Phase II programs achieving proof of concept. We are indebted to Frank for his achievements and look forward to his continued support during this current evolution of the company and his ongoing contribution as a valued advisor to support Transave’s continued progress.”

“As the Founder of Transave, I am extremely proud of the growth and development of the company, “said Dr. Pilkiewicz. “Having two Phase II programs in place with a strong pipeline in early development, Transave is in a strong position to become the leader in inhaled therapeutics. The company is well positioned with esteemed investors, a strong cash position and an excellent management and scientific team. Tim Whitten is well suited to lead Transave through the next stage of growth with his significant commercial and strategic experience. I wish Tim all the best and am pleased to continue to support him and the Transave team in my senior advisory role. “

About Transave

Transave, Inc. is a privately held biopharmaceutical company focused on the development of multiple product lines for the site-specific treatment of lung disease. Transave’s approach is based on its proprietary Sustained-release Lipid Inhaled Targeting (“SLIT™”) technology. The initial focus is the reformulation off-patent pharmaceuticals transformed into unique SLIT™-based inhaled pharmaceuticals for the localized, site specific treatment of lung disease. SLIT™ technology allows sustained release of the drug in the lung’s microenvironment resulting in enhanced therapeutic benefits and improved dosing regimens. This approach significantly reduces risk and enhances success in drug development by: (1) avoiding the inherent uncertainties of new chemical entities (“NCEs”); (2) building upon the demonstrated efficacy of approved agents in the target diseases; (3) via localized administration and controlled release focuses on reducing or eliminating the known toxicities or dosing problems associated with a systemically administered drug, and; (4) creates a new, improved product profile of a known, well characterized drug. The overall result being that Transave is able to develop therapeutics in a fraction of the time and cost as compared to a new therapeutic.

The Company has two products in clinical development and two programs at the preclinical stage, with a focus on pulmonary infections and lung cancer. SLIT™ Amikacin, for Pseudomonas aeruginosa (“Pa”) infections in cystic fibrosis (“CF”) patients, and SLIT™ Cisplatin, for lung and ovarian cancer, are both in Phase II clinical trials. Amikacin and cisplatin have already been approved for the treatment of lung infections and lung cancer, respectively, in intravenous (“IV”) form. By conferring sustained release and pulmonary disease site targeting to these active compounds, Transave increases their therapeutic benefits while reducing their systemic toxicities.

SLIT™ formulations utilize lipid constituents endogenous to the lung, via the pulmonary surfactant, to make extremely safe and biocompatible inhalable lipid/drug complexes. The combination of a sustained release benefit with limited or no detectable systemic absorption dramatically improves the therapeutic index of many commonly used drugs, creating several relatively near-term revenue candidates for the Company as well as offering significant partnering opportunities.

Contact Information:

Andrew J. Gorman, Ph.D. Vice President, Business Development Transave, Inc. 732-438-9434 agorman@transaveinc.com

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