Apollo BioPharmaceutics, a CNS Development Company, Retains Adams, Harkness & Hill to Explore Strategic Alternatives.

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 27, 1999--

Apollo BioPharmaceutics, Inc. today announced that it has retained the investment banking firm of Adams, Harkness & Hill, Inc. to advise the company in its efforts to explore strategic opportunities, including the possibility of a merger or acquisition.

The company's therapeutic product candidates address major disease targets associated with the neuroendocrinology of aging, including Alzheimer's and Parkinson's disease, stroke and certain metabolic disorders such as osteoporosis and cardiac disease. "Having reached a juncture where we have significant proprietary technology and rich intellectual property incorporating methods of treatment, compositions of matter and unique formulations allowing both stat and sustained drug delivery, Apollo must now carefully examine its financial and strategic options for gaining critical mass and accelerating these clinical programs," said Dr. Katherine Gordon, Apollo's CEO.

Apollo is developing a new generation of small, versatile molecules that have shown significant therapeutic promise in both acute and chronic neurodegenerative conditions as well as in the protection of a variety of other cells in the body. Apollo has characterized, synthesized and patented the essential molecular components that confer broad cytoprotection. The company's developments are supported by a large body of in vitro, in vivo and human epidemiological data that has been corroborated by numerous independent laboratories. Apollo has in place licensing, research and collaboration agreements with numerous major academic institutions and with pharmaceutical and biotechnology companies.