AVANIR Pharmaceuticals to Present at the Rodman & Renshaw Techvest Healthcare Conference.

Business Editors/Health/Medical Writers

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Rodman & Renshaw Techvest Healthcare Conference

SAN DIEGO--(BUSINESS WIRE)--Oct. 16, 2003

AVANIR Pharmaceuticals (AMEX: AVN) announced that it will be participating in the Rodman & Renshaw Techvest Healthcare Conference taking place Oct. 21 - 23, 2003, in Boston.

In his presentation, scheduled for 11:40 a.m., Oct. 21, 2003, president and chief executive officer Dr. Gerald J. Yakatan will focus on AVANIR's drug candidates and its product pipeline, including:

-- Abreva(R), AVANIR's first commercialized FDA-approved product marketed in North America by GlaxoSmithKline. Abreva is the leading over-the-counter product for the treatment of cold sores.

-- AVANIR's lead product, Neurodex(TM), a late stage, first-in-class drug candidate for central nervous system disorders. Neurodex is in Phase III clinical development for the treatment of pseudobulbar affect, also known as emotional lability, in neurodegenerative diseases. AVANIR is currently enrolling multiple sclerosis patients in a final Phase III study and anticipates submitting an NDA in 2004. In June 2003, AVANIR completed a successful Phase II clinical trial studying Neurodex in patients with diabetic neuropathic pain.

-- AVANIR's asthma and allergy drug candidate, AVP 13358, currently in Phase I clinical development. AVANIR's orally active compound acts early in the body's response to allergens by pre-empting the production or release of mediators involved in asthma and allergy.

-- AVANIR's pre-clinical drug candidate targeting microphage migration inhibitory factor (MIF). MIF is a protein that plays a central role in inflammation pathways and is important in diseases such as arthritis, Crohn's disease, colitis, asthma and sepsis. AVANIR also has preclinical research programs in place for cancer, cholesterol reduction and fully human monoclonal antibodies targeting infectious diseases such as anthrax and cytomegalovirus.

AVANIR Pharmaceuticals, based in San Diego, is a drug discovery and development company focused on the development of treatments for central nervous system disorders and inflammatory diseases. Using its proprietary Xenerex(TM) technology, AVANIR also develops human monoclonal antibodies for infectious diseases and other therapeutic applications. Further information about AVANIR can be found at www.avanir.com.

The information contained in this press release, including any forward-looking statements contained herein, should be reviewed in conjunction with the company's most recent Annual Report on Form 10-K and other publicly available information regarding the company. Copies of such information are available from the company upon request. Such publicly available information sets forth many risks and uncertainties related to the company's business and technology. Forward-looking statements often contain such words like "estimate," "anticipate," "believe," "plan" or "expect." The company disclaims any intent or obligation to update these forward-looking statements. Final review decisions made by the FDA and other regulatory agencies concerning clinical trial results are unpredictable and outside the influence and/or control of the company.