Lazard Freres & Co.'s Stephen Sands to be Honored as The Cures Start Here® Business Leader of the Year at New York Biotechnology Association Gala Dinner

Business Wire, April 21, 2008

NEW YORK -- New York State Biotechnology Association (NYBA), the voice of New York State's biotechnology industry, announced today that Stephen Sands, Managing Director and Global Co-Head of Healthcare Investment Banking at Lazard Freres & Co., will provide the keynote address and be honored as Business Leader of the Year at The Cures Start Here[R] Gala Dinner, Monday, May 19th at the Marriot Marquis Hotel in New York City.

The Cures Start Here[R] Gala Dinner will bring together key constituents from across New York's bioscience industry with the goal of building a true community. The mission is to create a locus where the regional life sciences community can come together, make connections, and work together as a united force to ensure growth and long-term viability of New York's bioscience industry.

"We are especially privileged to have Stephen Sands as our honoree at the Gala Dinner," said NYBA Executive Director Dr. Nathan Tinker. "He is one of the leading advisors to the biotechnology industry and his efforts on behalf of both domestic and international life sciences clients in the biotech, specialty pharma and pharmaceutical sectors have resulted in sweeping changes to our industry worldwide. We invite the financial, entrepreneurial and biomedical communities to join us in celebrating Stephen Sands's contributions to the success of New York bioscience."

"I am truly honored to be recognized by NYBA with this award," said Stephen Sands, Managing Director and Global Co-Head of Healthcare Investment Banking at Lazard Freres & Co. "New York has all the elements needed to be a truly powerful force in the biotech industry--top academic institutions, a vibrant entrepreneurial culture, a dominant financial network, active government support--and NYBA is providing leadership in bringing together this community. I look forward to helping to build New York's bioscience opportunity."

Stephen Sands is recognized as one of the foremost names in US investment banking and has advised some of the largest pharmaceutical and biotechnology transactions ever done, including Pfizer on the acquisitions of Pharmacia and Warner Lambert; UCB on the acquisitions of Schwarz Pharma and Celltech; Hoechst on the formation of Aventis; and Glaxo on the acquisition of Wellcome. He has also provided financial advice to leading biotech/specialty pharma companies such as Abraxis, Alpharma, Biogen, Imclone, OSI, MGI, Rosetta, and ViroPharma.

In addition, Mr. Sands has assisted numerous companies to raise capital in the public markets including Amicus, Dendreon, Enzo Biochem, Poniard, Targanta, Synta, Viropharma and Xenoport. He is also a member of the Brookings/Gates Global Heath Innovative Financing Advisory Group.

For information on registering for The Cures Start Here[R] Gala Dinner and NYBA's 17th Annual Meeting, visit www.nyba.org or contact Stacey Delligatti at 631-444-8895 or sdelligatti@nyba.org.

About New York Biotechnology Association

NYBA is the leading advocate for advancing the success of the biotechnology industry in New York State and is its main representative to policy makers, the media and the communities in which we work. NYBA's mission is to support the development and growth of New York's biotechnology industry, and to serve our members and the biotechnology community by providing a network for information exchange, shared services and collective action. NYBA's membership comprises bioscience companies, world-class research institutions and related professional services. Under the banner of The Cures Start Here[R], our goal is to amplify the success New York has had and continues to have in discovering major medical advances and growing a vibrant biotech industry.