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CAMBRIDGE, MA April 26, 2005 Archemix Corp., the privately-held biopharmaceutical company focused on discovering and developing aptamer-based therapeutics, announced today that Lawrence C. Best has been appointed to the Company’s Board of Directors. In addition to his responsibilities as a Board member, Mr. Best qualifies as an “Audit Committee Financial Expert” in accordance with Regulation S-K 401(h) and the rules implementing Section 407 of the Sarbanes-Oxley Act. Mr. Best currently serves as Executive Vice President and Chief Financial Officer of Boston Scientific Corporation. He brings more than 30 years of financial experience to Archemix. Prior to his work with Boston Scientific, Mr. Best was a partner in the accounting firm of Ernst & Young, where he specialized in serving multinational companies in the high technology and life sciences fields. He served a two-year fellowship at the Securities and Exchange Commission from 1979 to 1981 and a one-year term as a White House-appointed Presidential Exchange Executive in Washington, DC. Mr. Best is also a Director and Audit Committee Financial Expert for Biogen Idec and Haemonetics Corporation. “We are privileged to have someone of Larry’s experience and knowledge join our Board,” commented Dr. Errol De Souza, Chief Executive Officer of Archemix. "Larry brings an impressive record of financial expertise and strategic management and has been a key member of the Boston Scientific executive team that is credited with building one of the foremost companies in the medical device industry.” Dr. De Souza also stated that “filling the role of financial expert is an important step for Archemix as we continue to evolve our Board to meet the requirements of a public company.” “Archemix is at an exciting stage of its development,” said Mr. Best. “The Company’s aptamers have the potential to bring forth a new class of therapeutics for the treatment of acute and chronic diseases. I look forward to contributing to Archemix as the company strives to meet its strategic initiatives and develops its portfolio of aptamer therapeutics.” About Aptamers Aptamers are single-stranded nucleic acids that form well-defined three-dimensional shapes, allowing them to bind to target molecules in a manner that is conceptually similar to antibodies. Aptamers combine the optimal characteristics of small molecules and antibodies, including high specificity and affinity, chemical and biological stability, low toxicity and immunogenicity and the ability to target protein-protein interactions. In contrast to monoclonal antibodies, aptamers are chemically synthesized rather than biologically expressed, offering a significant cost advantage. As therapeutic agents, aptamers have demonstrated clinical biological efficacy and have excellent, tunable pharmacokinetic properties. About Archemix Corp. Archemix Corp. is a privately-held biopharmaceutical company based in Cambridge, Massachusetts. The company's mission is to develop aptamers as a class of directed therapeutics for the treatment of human disease. Because of their unique properties and proven efficacy, aptamers are a superior alternative to biologics and small molecules and will be a major class of drugs for the treatment of unmet medical needs. Archemix's aptamer expertise is complemented by a dominant patent estate comprised of over 220 issued and 230 pending patents covering the identification, composition and use of therapeutic aptamers. In addition to the company's core aptamer generation technology, Archemix possesses strong expertise in both preclinical and clinical drug development. Further information about Archemix can be found at http://www.archemix.com. For further information or to speak with Lawrence C. Best or Dr. Errol De Souza, please contact Davia Temin or Jane Trombley of Temin and Company at 212-588-8788 or news@teminandco.com. |
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