Lipid Sciences Names Hana Berger Moran Vice President of Regulatory Affairs.

Business Editors & Health/Medical Writers

PLEASANTON, Calif.--(BW HealthWire)--March 21, 2002

Lipid Sciences, Inc. (NASDAQ:LIPD) today announced that it has named Hana Berger Moran, Ph.D., to the position of Vice President of Regulatory Affairs. She will report directly to Phil Radlick, Ph.D., Chief Executive Officer of Lipid Sciences.

Dr. Moran has been responsible for filing more than 30 Investigational New Drug applications with the U.S. Food and Drug Administration and for nine product approvals by regulatory authorities in both the U.S. and in Europe. She is also an expert in good manufacturing practices requirements throughout the world. Prior to joining Lipid Sciences, Dr. Moran served as Vice President for Chemical Development and Manufacturing at BioMedicines, Inc., as the chief regulatory officer for SangStat Medical Corporation and Director, Regulatory Affairs of Athena Neurosciences, Inc.

Dr. Moran earned an M.S. in Chemical Engineering from Slovak Technical University in Bratislava, Slovakia and a Ph.D. in Organic Chemistry from the Weitzman Institute of Science in Rehovoth, Israel, with additional study at the University of Chicago.

Phil Radlick, Ph.D., Chief Executive Office and President of Lipid Sciences, Inc, stated, "I am particularly pleased that Dr. Moran has joined our management team as we advance the development and commercialization of our lipid-based technologies. Her extensive experience in both the regulatory and manufacturing arenas will enable us to carefully prepare for the acceptance of our product in the U.S. and in Europe."

Dr. Moran commented by saying, "With the first human trials starting shortly, it is exciting to be part of the team of professionals committed to commercializing this novel and promising technology platform."

Lipid Sciences, Inc. is a biotechnology company focused in the area of removal of lipids from plasma and plasma proteins. Lipid Sciences is currently developing two medical platforms called the Vascular Lipid Removal System (VLR) and the Viral/Parasite Inactivation System (VPI). The VLR System is targeted at treating conditions caused by an overabundance of lipids in the vascular system including but not limited to heart disease, stroke and peripheral vascular disease. The VPI System is targeted toward treating viral and parasitic conditions that include HIV, Hepatitis B and C, and Herpes viruses.

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties that could cause actual outcomes and results to differ materially from these statements. Risks and uncertainties include general industry and market conditions; general domestic and international economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reform; trends toward managed care and health care cost containment and governmental laws and regulations affecting domestic and foreign operations. Risks and uncertainties may also include those set forth in the Lipid Sciences' (formerly known as NZ Corporation) Annual Report on Form 10-K for the year ended December 31, 2000, its joint proxy statement/ prospectus dated November 8, 2001, and other documents filed by Lipid Sciences from time to time with the Securities and Exchange Commission. Copies are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. Lipid Sciences assumes no obligation to update the forward-looking statements included in this document.