TYRX Announces the Appointment of Daniel J. Lerner, MD as Chief Medical Officer

MONMOUTH JUNCTION, NJ--(Marketwire - May 13, 2009) - TYRX, Inc., a leader in the commercialization of implantable medical-pharmaceutical devices, today announced that it has appointed Daniel J. Lerner, MD as Chief Medical Officer.

Dr. Lerner brings over 18 years of industry and clinical experience to TYRX. Most recently, as Senior Vice President for Foxhollow Technologies, Dr. Lerner established and managed the Foxhollow Molecular Programs Group focused on the development of an innovative Phase Ib/II biomarker-driven platform for evaluating new anti-atherosclerosis drugs in collaboration with Merck & Co. In that role, he was responsible for multiple multi-center, vascular biomarker- and imaging-driven randomized and cohort clinical studies. Prior to joining Foxhollow, Dr. Lerner directed a laboratory focused on understanding the molecular basis of leukocyte migration, in the Division of Cardiology at Weill Medical College of Cornell University, and was an Attending Physician in the Cardiac Intensive Care Unit at New York Hospital. Dr. Lerner has received numerous research grants including grants from the National Institutes of Health, the American Heart Association, and the Arthritis Foundation, and multiple clinical teaching awards. Dr. Lerner received undergraduate degrees in mechanical engineering and biology from Stanford University, and his medical degree from the University of California at San Francisco (UCSF). Following medical school, Dr. Lerner was a resident, chief resident, cardiology fellow, and chief cardiology fellow at UCSF, before completing his postdoctoral research fellowship at the Cardiovascular Research Institute at UCSF. Dr. Lerner has served as a consultant for biomedical venture capital, private equity, and hedge fund investment groups evaluating early and late stage pharmaceutical, medical device, and drug/device opportunities.

“Daniel brings to TYRX a clinical skill set combined with unique industry knowledge uniquely suited to our growing presence in implantable combination drug/device products,” remarked William Edelman, President and CEO for TYRX. Mr. Edelman continued, “Dr. Lerner’s clear track record of success in developing and concluding complex clinical trials will accelerate our trajectory as an innovative leader in the medical device industry.”

Dr. Lerner remarked, “TYRX is developing novel drug-device combination products for a number of therapeutic areas. I am excited to join the superb team at TYRX and contribute to this important work.”

About TYRX, Inc.

TYRX, Inc., an ISO 9001:2000 and ISO 13485:2003 certified medical device manufacturer, commercializes implantable combination drug/device products, including the AIGISRx™ Anti-Bacterial Envelope. AIGISRx contains the antimicrobial agents, rifampin and minocycline, which have been shown to reduce infection by organisms representing a majority of the infections reported in cardiac rhythm device related endocarditis, including “superbugs” or MRSA. In addition, AIGISRx is intended to securely hold a pacemaker or implantable cardioverter defibrillator (ICD) in order to create a stable environment when implanted in the body. Following commercial release in June 2008, AIGISRx has been implanted in over 3,000 patients nationwide. In February 2008 TYRX raised $25 million in a venture capital financing led by Clarus Ventures and co-led by Pappas Ventures. TYRX products utilize novel biomaterials, including technology licensed exclusively from Rutgers, The State University of New Jersey. Additionally, TYRX has exclusively licensed from Baylor College of Medicine and The University of Texas M. D. Anderson Cancer Center product patents and associated technologies to address the problem of postsurgical nosocomial infection. TYRX is deploying its capabilities across a broad range of combination implantable medical-pharmaceutical devices. The combination products sector (products incorporating both a drug & a device component) is expected to be the highest growth segment of the medical products industry and TYRX is positioned to be an innovative applications leader in the space.

For more information, please visit www.TYRX.com.