Anika Therapeutics Hires William J. Knight As CFO.

Business Editors

Anika Therapeutics, Inc. (Nasdaq:ANIK) today announced that William J. Knight, who formerly served as chief financial officer (CFO) of NMT Medical, Inc. (Nasdaq:NMTI) and earlier Zoll Medical Corporation (Nasdaq:ZOLL), has joined the company as CFO. Knight replaces Douglas R. Potter, who in March announced plans to leave Anika once a successor was hired.

Knight, 53, was most recently chief financial officer of Zycos, Inc. of Lexington, Mass., a privately held, venture-backed biotechnology company focused on DNA-based therapeutics. From 1998 to 2000, he was CFO of NMT Medical, a developer and manufacturer of cardiovascular and neurological medical devices with revenues of $55 million. From 1996 to 1998, Knight was CFO of medical device manufacturer Zoll Medical, which had revenues in the range of $60 million. For 14 years prior to joining Zoll, Knight was with Analytical Technology, Inc., a scientific instrumentation concern purchased by Thermo Electron Corporation in late 1995. Knight is a certified public accountant and began his career as an auditor with Grant Thornton. He holds a bachelor's degree in business administration from the University of Wisconsin.

"We are delighted to have attracted a senior executive with Bill's credentials and experience," said Charles H. Sherwood, Ph.D., president and chief executive officer. "Bill's extensive knowledge of the medical device industry -- and familiarity with investors interested in that market sector -- will make him an important member of Anika's executive team as we seek to broaden our ophthalmic and osteoarthritis franchises and establish new long-term strategic relationships for our hyaluronic acid technology."

About Anika Therapeutics, Inc.

Headquartered in Woburn, Mass., Anika Therapeutics, Inc. (www.anikatherapeutics.com) develops, manufactures and commercializes therapeutic products and devices intended to promote the repair, protection and healing of bone, cartilage and soft tissue. These products are based on hyaluronic acid (HA), a naturally occurring, biocompatible polymer found throughout the body. In addition to ORTHOVISC(R), a treatment for osteoarthritis of the knee (not approved for sale in the U.S.), Anika markets HYVISC(R) in the U.S. for the treatment of equine osteoarthritis through Boehringer Ingelheim Vetmedica, Inc. and manufactures AMVISC(R) and AMVISC(R) Plus, HA viscoelastic products for ophthalmic surgery, for Bausch & Lomb. It also produces STAARVISCTM-II for distribution by STAAR Surgical Company, Shellgel(TM) for Cytosol Ophthalmics, Inc., and CoEase(TM) for Allergan, Inc.

The statements made in this press release which are not statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve known and unknown risks, uncertainties and other factors. The words "will," "seek," and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters such as statements regarding the Company's efforts to broaden its franchises and its efforts with respect to its hyaluronic acid technology, identify forward-looking statements. All statements, other than statements of historical facts, are forward looking statements based in the current beliefs and assumptions of management and are subject to significant risks and uncertainties. The Company's actual results could differ materially from any anticipated future results, performance or achievements described in the forward-looking statements as a result of a number of factors, including the risk that the Company's efforts to enter into long-term strategic relationships will not be successful or that the Company does not achieve any additional or significant sales from such relationships. Certain other factors that might cause the Company's actual results to differ materially from those in the forward-looking statements include those set forth under the headings "Business," "Risk Factors and Certain Factors Affecting Future Operating Results" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the year ended December 31, 2001, and the Company's press releases and other filings with the Securities and Exchange Commission.