BioQuest Inc. Announces M. Ross Johnson, Ph.D. Joins BioQuest Inc.

HOUSTON--(BW HealthWire)--July 6, 1999--

BioQuest Inc. (OTC BB:HIVX) announced today that M. Ross Johnson, Ph.D. has joined the company as special advisor to the Board of Directors. Dr. Johnson, formerly president and chief executive officer of Trimeris Inc. (Nasdaq:TRMS) of Durham, N.C., will advise BioQuest on drug development, FDA regulatory matters, corporate partnership opportunities, capital formation, and technology acquisition and development.

Dr. Johnson, best known for his expertise in analgetic receptor technology, enjoyed a twenty-year career in drug development with Pfizer and Glaxo. He is a discoverer of the ultra-short acting analgetic/anesthetic remifentanil (ULTIVA((R))), the oral anti-diabetic englitazone, and the prostaglandin analog sulprostone. His resume includes over one hundred patents and two hundred peer-review publications and invited lecture presentations. Dr. Johnson serves on numerous boards including the Board of the Inter-company Collaboration for AIDS and is the incoming Chair of the Division of Organic Chemistry of the American Chemical Society.

At Trimeris from 1995 to 1999, Dr. Johnson served first as chief scientific officer, and then in March, 1996 was promoted to president and chief executive officer. During his tenure, Trimeris transitioned from small private company to public company with Trimeris' HIV fusion inhibitor progressing from the discovery stage to FDA Phase II, obtaining FDA Fast Track designation in the process.

Warren C. Lau, president of BioQuest Inc. stated, "Ross Johnson brings a unique set of qualifications to BioQuest Inc. It would be difficult to imagine a better person to help the company drive our projects, especially our R15K HIV blocking agent, through to commercialization."

BioQuest Inc. is a biotechnology development company in the field of HIV/AIDS therapy, prophylaxis, and vaccine. BioQuest's lead compound is R15K, a blocking agent designed to prevent HIV from entering and infecting human immune system cells. In laboratory testing and in mice, rhesus monkeys, and chimpanzees it has shown encouraging results and is being readied to enter FDA human testing.

In the pipeline are two more approaches to treatment and prevention of HIV/AIDS. The patented compound S4S has been shown in vitro to be able to attack and disable the very proteins HIV uses to bind to and infect human immune system cells, thus rendering HIV non-infectious. Finally, BioQuest's patented Antibody-negative Cell Mediated Immunity Vaccine is now undergoing testing in rhesus monkeys using a "chimeric" Simian/Human Immunodeficiency Virus. This trial is currently producing data that, if confirmed in subsequent testing, represent exciting proof of principle.

This press release contains certain forward looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are made based on management's current expectations and beliefs. Actual results may vary from those currently anticipated based upon a number of factors, including uncertainties inherent in the drug development process, the timing and success of clinical trials, and the receipt of necessary approvals from the United States Food and Drug Administration. The company undertakes no obligation to release publicly any revisions which may be made to reflect events or circumstances after the date hereof.