Woburn, MA (November 15, 2001) – U.S. Genomics has appointed David Hoey to the position of Vice President, Business Development. Mr. Hoey’s background includes extensive experience in creating and managing domestic and international strategic and technological alliances and also in securing financing for high-tech industry startup companies across a broad range of industries. Mr. Hoey has completed financing and strategic collaborations totaling over $400 million in aggregate size. He joins U.S. Genomics from his position as Vice President, Marketing and Business Development of InfoLibria, Inc., a developer of Internet infrastructure solutions, where he fostered alliances with such industry leaders as Microsoft, EMC, and Nortel Networks.

“David’s expertise in building corporate alliances as well as in structuring and closing joint venture investments is of tremendous value to U.S. Genomics,” said Eugene Chan, Chairman and CEO of U.S. Genomics. “We expect that his first-hand knowledge of the intricacies of corporate relationship and partnership building coupled with his skill in securing investments will greatly advance our position as we prepare to move forward with our business model.”

To address the emerging commercial need for the rapid production of usable and comprehensive genomic data, U.S. Genomics has developed the GeneEngineTM, a laboratory device that enables researchers to uncurl and separate individual strands of DNA or RNA, which are then run through a nanotechnology sequencer in extremely long, unbroken, linear segments. The technique’s miniature DNA reader works somewhat analogously to a CD player. The genetic information captured through such direct linear readings is much more comprehensive and integrated than data available through other current techniques.

In the near term, the Company’s platform may be applied to generate enriched haplotype data from a single molecule. Such use has applicability to research labs, diagnostics, and pharmaceutical companies. In the longer term, U.S. Genomics’ approach has the potential to enable the deciphering of complete genomes, individual drug customization, and drug discovery for diseases caused by multiple genes.

“I am thrilled to have the opportunity to help advance what I view to be the most exciting and promising DNA sequencing platform available,” said David Hoey. “Having directed the business development and financing of startup technology companies for over 15 years, I believe that U.S. Genomics’ technology platform positions the Company for unique commercial opportunities in the arenas of drug discovery, diagnostics, and pharmacogenomics.”

Prior to joining U.S. Genomics, Mr. Hoey was Vice President, Marketing and Business Development of InfoLibria, Inc., a developer of Internet infrastructure solutions, and Vice President of Business Development at Molten Metal Technology, Inc., where he developed and maintained corporate alliances and joint ventures both in the U.S. and abroad. Mr. Hoey also served as consultant to, and Board Member of, Bligh Ventures Limited, a publicly traded Australian VC with strategic investments in biotechnology, software development, and telecommunications.

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 servics to markets in drug discovery, pharmacogenomics, and diagnostics. For more information, please visit www.usgenomics.com.