CEO Appointment at Intronn

Proteome Sciences PLC
27 September 2000



Proteome Sciences plc
CEO Appointment at Intronn



Proteome Sciences plc is pleased to announce the appointment of Dr. Gerard
McGarrity as Chief Executive Officer (CEO) of its US subsidiary, Intronn LLC. 
Gerard McGarrity has a distinguished career in gene therapy.  He was the
Senior Vice-President and Director of Development at Genetic Therapy Inc.,
(GTI) until December 1998 (now a Novartis company) and, most recently was the 
Chief Scientific Officer at Cambridge Genetics Limited.  Having started as a
Research Associate at Coriell Institute for Medical Research, Camden, New
Jersey, USA, he rose through the Institute to become President and CEO from
1986 - 1991.  He is an editorial Board member of Human Gene Therapy and has
sat on a number of prestigious committees and associations related to gene
therapy, most notably serving two terms on the Recombinant DNA Advisory
Committee of the U.S. NIH, including one term as Chair of the Committee.  He
has acted in a consultancy capacity to many major biotechnology and gene
therapy companies.

As outlined in the Chairman's Statement in the latest Annual Report and
Accounts, a separate structure has been prepared for Intronn LLC to simplify
the ownership, whereby Intronn LLC will be incorporated and the differing
profit participations will be exchanged for equity in the new company.  Under
these arrangements, Proteome Sciences will be allotted 60 per cent of the
equity and Intronn Holdings 40 per cent.  These percentages are ahead of
dilution from the issuance of options to the CEO, senior scientists and
issuances of stock by way of fund raising.  A mezzanine funding was completed
in July which raised $500,000, the initial part of a $3-$5m funding which is
currently in process.

A high profile Scientific Advisory Board and a Management Board, including
some eminent Non-Executive Directors, are being assembled.  Heads of Agreement
have been signed for a collaborative programme using SMaRT( (spliceosome
mediated targeted trans-splicing) and other collaborative research and
partnering opportunities are being actively addressed.  The intellectual
property and results from the research in gene tagging and oligonucleotides,
both of which have outstanding prospects, will be spun out separately from
SMaRT( into new entities for exploitation with external partners/specialist
biotechnology investors.  This process will enable Proteome Sciences to
maximise the value of its interest in Intronn and prepare for a possible IPO
in the USA or Europe.

Dr. McGarrity, having established himself at Intronn, will finalise the
business plan and corporate strategy to complete the fund raising and to
recruit the key individuals to build the management team.  A strategic review
of Intronn's key research projects outside of SMaRT( should accelerate the
spin out and commercialisation of the oligonucleotide and gene tagging
programmes.  This will establish external valuation of the technologies and
permit incorporation and flotation of those entities in due course.

Commenting on the appointment, Christopher Pearce, CEO of Proteome Sciences
said 'I was pleased by the quality of candidates for this key position and I
am delighted that Intronn has been able to secure such a high profile figure
as Gary McGarrity from the world of gene therapy.  His record speaks for
itself and we look forward to his completing the mezzanine funding for Intronn
ahead of  preparing the business for IPO next year.  He will have our full
support to develop Intronn into a major corporation with the SMaRT( technology
platform over the next two years.  The prospects for Intronn, our US
subsidiary, look outstanding and we intend to maximise the value of the
commanding position we have established with SMaRT('.

Over the course of this year, the Board of Proteome Sciences has addressed a
wide range of strategic opportunities including acquisitions, possible mergers
and corporate alliances.  The Directors have not found a deal offering better
prospects than those currently available at Proteome Sciences and which would
more rapidly enhance shareholder value.  The discussions which have been held
with certain parties over the period have not resulted with a suitable
transaction and such discussions have been concluded.  The Board,
nevertheless, will continue to look for suitable opportunities.

The prospects for the two platform technologies look most encouraging and it
would not be prudent at this stage to unnecessarily dilute Proteome Sciences'
strong position in proteomics and Intronn's SMaRT( platform in the U.S..
       

27th September 2000

Enquiries:-

Proteome Sciences plc, UK                            Tel:  [phone]
Christopher Pearce, Chief Executive Officer              e-mail: 
[e-mail]
Alison Pearce, Business Development Manager                     


Notes to Editors

1.       Proteome Sciences plc

Founded in 1984, Proteome Sciences plc, listed in London, is recognised as a
leader in proteomics technology.  The Company utilises the platform technology
of 2DE (two-dimensional gel electrophoresis) to search for novel protein
markers in body fluids and tissue, the presence of which can be used to
identify specific disease states, and  in the development of associated
diagnostic, prognostic and therapeutic applications.

Proteomics is used to identify the changing expression of proteins in disease
pathways. This can be used for diagnostic purposes, to monitor the effect of
therapeutic treatment at the protein level and to accelerate the speed and
efficacy of clinical trials.  Proteomics is thought to be a key contributor to
the development of functional genomics, which will play a major role in
bio-medical research and will make a significant impact in the development of
diagnostic, prognostic and therapeutic products.

2.       Intronn LLC

Intronn LLC, based in North Carolina, USA, is a 50 per cent US subsidiary of
Proteome Sciences plc.  Intronn is developing a novel approach to gene therapy
and has patents issued for its Spliceosome Mediated RNA Trans-splicing
(SMaRT(tm)) gene therapy platform, which may be applied to a wide range of
diseases.  The technology allows virtually any mutated gene to be targeted and
reprogrammed to produce a new gene product useful in treating that particular
disease.  This has been successfully demonstrated in a model system to repair
the genetic mutations in the mRNA which is defective in cystic fibrosis.

3.       Cystic Fibrosis

Cystic fibrosis (CF) is a genetic disease which is caused by a defect in the
CTFR gene.  The diseases is characterised by chronic infection of the
respiratory system, which may lead to the loss of lung function and premature
death.  Cystic fibrosis is the most common fatal genetic disease in the USA
and Europe.  The typical life span for a patient with cystic fibrosis is
thirty years and it is estimated that the annual medical costs for each
patient range from $15,000 to $55,000.  Approximately 1 in 25 of the
population is a carrier of a faulty gene which can cause CF in their children.
 CF carriers are completely healthy because they have one normal gene as well
as one defective CF gene.



4.       Stroke

Stroke is the largest cause of serious disability in the UK with 350,000
people affected at any one time.  every year about 100,000 people suffer a
first stroke and 10,000 will be under retirement age.  A substantial
collection of sequential samples from acute stroke patients has been collected
over the last four years with potential marker candidates identified. 
Proteome Sciences has applied for patent protection for a diagnostic assay for
stroke from a blood sample which provides high sensitivity, specificity and
predictive accuracy.
5.       CJD

Considerable media attention continues to address the potential risk of
substantial numbers of possible CJD/nv CJD victims emerging in the future. 
Proteome Sciences has focused its attention on using highly sensitive
techniques for the early identification of the abnormal forms of the mutated
prion protein PrP and to try and identify such changes, preferably in an
accessible body fluid.  A patent application has been filed for a new method
of detection of CJD and other forms of TSE from a blood sample and the present
invention is for a test of high specificity, sensitivity and predictive
accuracy.

6.       Diabetes/Obesity

More than 100 million people worldwide have non-insulin dependent diabetes,
including nearly 15 million Americans.  The World Health Organisation is
forecasting this to grow to 239 million by 2010.  It is the most common cause
of diabetes and is a serious disease resulting from the body's inability to
produce appropriate amounts of insulin, coupled with insulin resistance. 
Diabetes can lead to severe, debilitating and fatal complications, including
blindness, kidney disease, heart disease and amputations.  Proteome Sciences
has identified and filed patents to date on the differential expression of 108
proteins in diabetes/obesity.  It is the sixth leading cause of death by
disease in the US and costs an estimated $200bn in 1995.