Woburn, MA (APRIL 4, 2001) – U.S. Genomics announced today that it has concluded a $17 million private placement to support the Company's development of pioneering technologies for the direct linear analysis of DNA. The financing, led by HealthCare Ventures, also included existing investors, CB Health Ventures, Still River Fund, and several private investors. In connection with the financing, Augustine Lawlor, General Partner at HealthCare Ventures, joined the Company's Board of Directors.

Mr. Lawlor commented, "With the initial sequencing of the human genome, the genomics revolution is entering a new phase that demands technologies that can deliver enhanced value and use from genomic data. U.S. Genomics has created a powerful, fundamental new technology that carries the potential of enabling commercial applications of genetics analysis across a broad range of industries."

"This financing represents a significant endorsement of the progress U.S. Genomics has made in advancing its technologies," noted Eugene Chan, Chairman and CEO of U.S. Genomics. "These funds will continue to support our efforts in strengthening our technology base and allow us to commercialize our platform in our key markets in drug discovery, pharmacogenomics, and clinical diagnostics."

To address the emerging commercial need for the rapid production of usable and comprehensive genomic data, USG has created a fundamental new technology that allows direct, linear DNA analysis. USG's unique ability to rapidly read extremely long stretches of genetic sequence has the potential to transform the utility and commercial application of genomic analysis. In the near term, USG's platform can be applied to generate enriched haplotype data that provides extremely full information. In the longer term, USG's approach has the potential to enable the deciphering of whole genomes, individual drug customization, and drug discovery for diseases caused by multiple genes.

About U.S. Genomics
U.S. Genomics (USG) is pioneering breakthrough technologies for direct, linear analysis of DNA for the global life sciences industry. Modeled after the cellular machinery used to read genetic material, the Company's technologies have the potential to transform the commercial utility of genomic information by enhancing its quality and breadth of application. USG is focused initially on providing technology products and services to markets in drug discovery, pharmacogenomics, and diagnostics. For further information, please visit www.usgenomics.com.