Dr. David Snyder appointed as VP Clinical Development of Proneuron Biotechnologies, Inc.
February 18, 2003

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LOS ANGELES & NESS ZIONA, Israel,

Proneuron Biotechnologies, Inc. announced today the appointment of Dr. David Snyder as its VP Clinical Development. Effective March 1, 2003, Dr. Snyder will replace Dr. Valentin Fulga who served as the Company's Senior VP Development. Dr. Fulga is leaving Proneuron to pursue new opportunities.

Dr. Snyder brings to Proneuron a wealth of experience gained while working in international pharmaceutical and biotechnology companies in the US and in Israel. Prior to joining Proneuron, Dr. Snyder served as Collgard Biopharmaceuticals' VP of Drug Development. At Collgard David was responsible for all regulatory, clinical and manufacturing strategies and programs. He was responsible for global clinical development programs for new drugs, conducted meetings with the FDA and European Regulatory Agencies as well as lead international Investigator, Steering Committee and Advisory Board Meetings. Prior to Collgard, David served at Teva Pharmaceutical Industries (Nasdaq: "TEVA"). AT Teva, David managed clinical programs in neurodegenerative diseases before creating and heading the global clinical operations unit for the Innovative R&D Division. He also held progressively more responsibilities in the U.S. Clinical and Regulatory Affairs group at Gensia Pharmaceuticals. Dr. Snyder received his Ph.D. in Medical Biochemistry from the Hebrew University in Jerusalem, and completed his post-doctoral studies in neurobiology at Duke University.

Nir Nimrodi, Proneuron's CEO, welcomed David's appointment: "I am very pleased to have David with our team. David is joining the company in the most exciting and challenging days, as we are getting ready to initiate the next clinical studies with our spinal cord therapy. David will be responsible for expanding the company's clinical and cell processing operations in the US and for nurturing our relations with our partners, leading spinal cord centers in the US, Europe and Israel. I also wish to take this opportunity to thank Dr. Valentin Fulga for his enormous contribution to Proneuron since its inception. Valentin will continue to share with us, as a consultant, his valuable knowledge in the areas of cell therapy and spinal cord injuries".

Editor's Note: Proneuron Biotechnologies Inc., is a privately held biopharmaceutical company developing products for the treatment of spinal cord injuries and other acute and chronic disorders of the central nervous system based on proprietary technology for modulating the interaction between the nervous and the immune systems. See http://www.proneuron.com for more information.

Contact:
Nir Nimrodi, CEO
Tel. +972-8-9409550
Email: nir.nimrodi@proneuron.com