Threshold Pharmaceuticals, Inc. Appoints Bruce Cozadd To Board Of Directors

REDWOOD CITY, CA -- (MARKET WIRE) -- 12/27/2005 -- Threshold Pharmaceuticals (NASDAQ: THLD) today announced that the company has appointed Bruce Cozadd to its board of directors. Mr. Cozadd, who is currently Executive Chairman of Jazz Pharmaceuticals, will fill the seat held by Dr. Ralph "Chris" Christoffersen, a board member since 2003, who has resigned. Prior to Jazz Pharmaceuticals, Cozadd served in various executive management positions with ALZA Corporation, most recently as Executive Vice President and Chief Operating Officer responsible for research and development, manufacturing and sales and marketing. Prior to joining ALZA, he was in the Corporate Finance Health Care group at Smith Barney, Harris Upham & Co. Inc. He serves on the boards of Cerus Corp., The Nueva School and Stanford Hospital and Clinics, and is also a member of the Stanford Molecular Imaging Advisory Board.

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