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MARTYN GREENACRE ASSUMES CHAIRMAN OF THE BOARD POSITION OF ZYNAXIS

 MALVERN, Pa., April 12 /PRNewswire/ -- Zynaxis, Inc. (NASDAQ: ZNXS), announced that its president and CEO, Martyn Greenacre, has assumed the position of chairman of the board.
 Paul K. Horan, Ph.D., at his initiative has tendered his resignation. Mr. Horan, a founder of Zynaxis, will remain on the board of directors and will continue to serve as chief scientific advisor to the company. He believes that consolidating the positions strengthens the direction of the company.
 Mr. Greenacre joined the company as president and CEO and was appointed to its board of directors on March 29. Most recently, Mr. Greenacre was Chairman Europe of SmithKline Beecham.
 Mr. Greenacre stated: "Paul Horan made significant contributions in developing Zynaxis' proprietary technologies, particularly the Zyn-linker, which uniquely permits therapeutic drugs to be retained at the delivery site for extended periods. Among the initial applications of this technology is the prevention of restenosis post angioplasty, which is the subject of the collaborative research agreement with Eli Lilly."
 Mr. Horan commented: "Martyn is well qualified to manage the transition from a development stage company to commercialization, which is particularly important as we expect to commercialize a proprietary cellular diagnostic system that monitors HIV progression this year. The market for HIV monitoring represents $75 million a year domestically."
 Zynaxis, Inc., is a drug delivery company with a unique proprietary technology for delivering and retaining a drug at the disease site. The company is also developing cellular diagnostic systems for HIV and other diseases.
 -0- 4/12/93
 /CONTACT: James S. Lyons, senior vice president and CFO of Zynaxis, 215-889-2200; or Melissa Wilmoth of Cameron Associates, 212-644-9560, for Zynaxis/
 (ZNXS)


CO: Zynaxis, Inc. ST: Pennsylvania IN: MTC SU: PER

KD-GK -- NY018 -- 4658 04/12/93 09:37 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
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