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InKine Pharmaceutical Added to the Russell 2000 and 3000 Indexes.

Business/Health Editors

BLUE BELL, Pa--(BUSINESS WIRE)--July 10, 2001

InKine Pharmaceutical Company, Inc. (Nasdaq: INKP) today announced that the Company has been added to the Russell 2000(R) and 3000(R) Indexes. InKine's inclusion in the indexes was part of the Frank Russell Company's annual reconstitution process that takes place as of May 31st and is finalized July 9th.

The Russell 3000 is comprised of the 3,000 largest U.S. companies ranked by market capitalization. The Russell 2000 Index represents the 2,000 smallest stocks in the Russell 3000, and is a leading benchmark for the small cap market. It is estimated that $175 billion is invested in funds using Russell's U.S. Index model.

"We are very pleased with our inclusion in these indexes," said Leonard S. Jacob, M.D., Ph.D., Chairman and Chief Executive Officer of InKine. Jacob added, "We believe that our inclusion in the Russell 2000 and 3000 indexes will increase our visibility in the investment community."

About InKine Pharmaceutical

InKine Pharmaceutical Company, Inc. is a publicly traded biopharmaceutical company focused on the diagnosis and treatment of cancer and autoimmune diseases. The Company's development strategy is to acquire late-stage drug candidates with short time lines to commercialization. Support of early-stage product opportunities comes through its university-based sponsored research. The Company's first product, Visicol(TM), was launched in January 2001 and is the first and only tablet purgative preparation indicated for bowel cleansing prior to colonoscopy. InKine's portfolio also includes three late-stage product candidates, IBStat(TM), in development for the treatment of spasm in the colon, Hematrol(TM), in Phase III trials for the treatment of idiopathic thrombocytopenic purpura and Colirest(TM), in pivotal clinical trials for the treatment of Crohn's disease. In addition, the Company is developing preclinical compounds from its two platform technologies, including Angiocidin(TM), a potent and specific angiogenesis inhibitor for potential use in cancer patients, and related compounds. For further information, please visit InKine on their web site http://www.inkine.com.

In addition to historical facts or statement of current condition, this press release may contain forward-looking statements. Forward-looking statements provide InKine's current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings projections, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning. InKine's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties such as those set forth in its reports on Form 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, InKine does not intend (and it is not obligated) to update publicly any forward-looking statements. This discussion is permitted by the Private Securities Litigation Reform Act of 1995.
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Publication:Business Wire
Date:Jul 10, 2001
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