Applied NeuroSolutions Signs Agreement with Novartis.

Business Editors/Health/Medical Writers

VERNON HILLS, Ill.--(BUSINESS WIRE)--Nov. 19, 2003

Applied NeuroSolutions, Inc. (OTC BB:HMYD), a world leader in the development of diagnostic tests to detect Alzheimer's disease, headquartered here, said today it has agreed to perform certain services of a confidential nature for Novartis Pharmaceuticals Corporation (NYSE:NVS). Terms were not announced.

"While we are not at liberty to discuss the specifics of this assignment, we are very pleased to be working with such a prestigious company on an important project" said John F. DeBernardis, Ph. D., President and COO of Applied NeuroSolutions.

Dr. DeBernardis said, "It is terribly important for emerging biotechnology companies, like Applied NeuroSolutions, to develop relationships and build a track record with top tier Pharma. This agreement with Novartis represents the second agreement we have signed with a major pharmaceutical company this year. I am pleased that two large Pharma companies thought enough of our technology to offer such an opportunity, and we are committed to making the relationship with Novartis work successfully for both parties."

This press release contains forward-looking statements. Applied NeuroSolutions, Inc., formerly known as Hemoxymed, Inc., wishes to caution the readers of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, the risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, potential competitive offerings, and the need to raise additional equity capital. For further information, please review the company's 10-QSB and 10-KSB filings with the Securities and Exchange Commission.