Exygen Research to Provide Research and Development Support Services For LAM.

Business Editors/Health & Medical Writers

LEWISTON, N.Y.--(BUSINESS WIRE)--Feb. 15, 2002

LAM Pharmaceutical Corp. (OTCBB:LAMP) (Frankfurt Stock Exchange:LAM), http://www.lampharm.com, announced today that it has formally appointed Exygen Research of State College, Pennsylvania to act as quality control specialists for LAM's IPM(TM) Wound Gel product (assigned FDA number K020325). In addition, Exygen has been retained to provide analytical and other technical services to assist in the commercialization of LAM's entire product portfolio.

Exygen Research specializes in analytical methodology development and support services for the pharmaceutical industry. Alan Drizen, CEO of LAM, noted: "Exygen has recently completed a complex assay methodology exclusively for LAM to use for its proprietary and patented technology which relates to LAM IPM(TM) Wound Gel and other products based on hyaluronic acid derivatives. I am very pleased that our relationship with Exygen has entered this new and exciting phase."

LAM also announced that on February 14, 2002 the Company filed an amended prospectus with the Securities and Exchange Commission which replaces the Company's prior prospectus dated December 18, 2001. The new prospectus was filed to update information concerning the Company.

The total number of shares reported in the amended prospectus filed on February 14, 2002 remains unchanged from the total number of shares shown in the December 18, 2001 prospectus. The amended prospectus filed on February 14, 2002 does not offer any additional shares for sale.

LAM Pharmaceutical Corp. is a biomedical company with laboratories in Lewiston, New York, and a business office in Toronto. LAM focuses on the development and commercialization of novel wound healing and transdermal drug delivery systems that offer patients, among other benefits, safer and more effective treatment for a variety of serious diseases. The technology is based on an original Ionic Polymer Matrix(TM) technology ("IPM"), a proprietary and patented combination (a total of nine U.S. issued patents) of electrically charged and non-charged molecules with wound-healing properties. IPM(TM) technology combines with well-established drugs, allowing for the sustained delivery of greater amounts to the target areas than is otherwise possible and thus prolonging therapeutic activity.

The main ingredient of the Ionic Polymer Matrix(TM) technology is a derivative of hyaluronic acid, a molecule normally found in the skin and joints of bones. Hyaluronic acid is a non-immunogenic (the body does not react to it) and it is involved in such important biological functions as tissue hydration and proteoglycan organization (formation of proteins and sugars) to optimize tissue repair and prevent tissue aging. As well, hyaluronic acid is present in high concentration in fetal skin where wound healing is rapid and leaves little scarring.

LAM IPM(TM) Wound Gel is a clear, viscous, aqueous, odorless gel composed principally of sodium hyaluronate, a derivative salt of Hyaluronic acid. LAM IPM(TM) Wound Gel has demonstrated in both human and animal trials to be of significant value in the management of certain skin ulcers and wounds where maintaining a moist environment is supportive of the healing process. In human skin, Hyaluronic acid is involved in such important biological functions as tissue hydration and proteoglycan organization (formation of proteins and sugars).

As of December 31, 2001, LAM had nine issued patents in the United States. LAM IPM(TM) Wound Gel is protected by one or more of the following patents: 5,887,880; 6,120,804; 6,007,843; 6,063,405. All referenced patents have been issued to LAM Pharmaceutical, Corp. by the United States Patent Office and have subsequently been filed on a global basis.

The Company's list of products under development include the following:

LAM IPM(TM) - Post Surgical Gel - the gel matrix is effective in treating pressure sores, post surgical incisions and other wounds. It also may be used for topical ulcers, such as very hard-to-heal diabetic ulcers.

LAM IPM(TM) - Female Sexual Dysfunction Matrix - a product that provides enhanced lubrication while also allowing the external structures of the female genitalia to be flushed with greater blood supply.

LAM IPM(TM) - Motion Sickness Matrix - a product currently under development, which is a topically applied delivery system, using a patch, of a well-known motion sickness drug.

LAM IPM(TM) - Arthritic Pain Matrix - is a clear aqueous gel that contains a well proven off patent drug.

For more information please visit our website at http://www.Lampharm.com or send us an e-mail at [e-mail] to receive the latest information and press releases.

Statements in this press release regarding our business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to uncertainties relating to the need for additional funds and corporate partners, product liability, dependence on third parties for manufacturing and marketing, the early stage of products being marketed or under development, patent risk and competition.