PhereSys Therapeutics Appoints Hal I. Lieberman as President and Chief Operating Officer and Gregory S. Ayers as Chief Financial Officer

EL DORADO HILLS, Calif.--(BUSINESS WIRE)--June 29, 2005--PhereSys Therapeutics Corporation, a national provider of mobile therapeutic apheresis ("TA") services, announced today the expansion of its senior management team with the appointments of Hal I. Lieberman as President and Chief Operating Officer and Gregory S. Ayers, as Chief Financial Officer.

Mr. Lieberman has over thirty years' experience in healthcare management, marketing and consulting, in the areas of hospital administration, medical services, medical devices, diagnostic imaging, pharmaceuticals and bioinformatics. Previously, he was President and CEO of HemaCare Corporation, a publicly-held blood products and services company, and during his tenure, HemaCare became the first for-profit blood establishment to be licensed by the FDA and accredited by the American Association of Blood Banks. Mr. Lieberman was involved in the establishment of the USC Blood Center in Los Angeles and the Shandong Umbilical Cord Blood Center in Jinan, China. He is an advisor to the U.S. Defense Advanced Research Projects Agency (DARPA), which awards grants to biomedical research projects that benefit national defense and is a Senior Associate at EXCELeration Management, a business development company. Mr. Lieberman has an undergraduate degree from the City University of New York and a master's degree in health care administration from The George Washington University.

Mr. Ayers has more than twenty years of experience in helping early-stage companies manage rapid growth, profitability and the transition to going public. Prior to joining PhereSys, Mr. Ayers was Chief Financial Officer of SAP Portals, Inc, a $150+ million subsidiary of SAP AG, with operations in eight countries. He has also served as CFO at several start-up companies including UroQuest Medical Corporation and was Vice President of New Business Development of Occulogix Corporation. In these roles, he was instrumental in strategic business planning, raising angel and venture capital financing, executing an initial public offering, developing business alliances and technology partnerships and in driving M&A activities. Mr. Ayers earned his Bachelor of Business Administration degree from Stetson University and is a certified public accountant.

Richard Davis, MD, Chairman and Founder, stated, "On behalf of PhereSys' Board of Directors, we welcome Hal and Greg as they significantly augment the leadership of our company during this exciting phase of our company's expansion. Both Hal's and Greg's extensive expertise in business development, particularly with start up medical and technology companies, will be instrumental as we continue our commitment to build the nation's most comprehensive, contract mobile Therapeutic Apheresis ("TA") network."

About PhereSys Therapeutics Corporation

PhereSys Therapeutics is a privately held company founded to establish the premier contract mobile therapeutic apheresis services network in the United States. Therapeutic Apheresis or 'blood filtering' is a medical procedure where whole blood is separated into its components in order to remove disease-causing substances for therapeutic purposes. The Company currently provides its services to hospitals and physicians' offices in California and New York. PhereSys is scaling up an aggressive nationwide expansion of its business model with new initiatives now underway in Minnesota, Illinois, Michigan, Wisconsin and Texas. At least 10 other states are scheduled for operations in the coming year. PhereSys' strategy involves establishing strategic relationships with TA providers, blood banks, and TA technology companies, as well as assisting pharmaceutical and biotech companies seeking to develop and commercialize stem cell and other advanced cellular therapies.

Forward Looking Statements

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