Press Release

Genospectra Appoints Dr. Frank Witney Chief Executive Officer

Discovery Tools Executive to Drive Commercialization of Massively Parallel Assay Technology

Fremont, CA July 30, 2002—Genospectra, Inc. today announced that Frank Witney, Ph.D. has been appointed to the newly created position of Chief Executive Officer. Dr. Witney, who was most recently President, Drug Discovery Tools at PerkinElmer Life Sciences, joins Genospectra as the company moves forward to commercialize its massively parallel assay technology for genomics, proteomics and high-throughput screening. Dr. Witney will refine the commercialization strategy for Genospectra’s proprietary fiber optics-enabled technology platform and oversee the development of infrastructure for the company’s growth plans.

Dr. Witney brings nineteen years of life science industry experience to Genospectra, including eight years of executive-level operational leadership and nine years of commercial product development management. Prior to his position as President, Drug Discovery Tools at PerkinElmer, he served as President and Chief Operating Officer of Packard BioScience. During his tenure at Packard, the company achieved rapid growth in revenues and operating profits. Previously, Dr. Witney served as Group Operations Manager of the Life Science Group at Bio-Rad Laboratories, where he led the company’s efforts in entering rapidly growing markets for proteomic and bioassay technologies. Dr. Witney holds a doctorate in molecular and cell biology from Indiana University.

“Frank brings a unique combination of successful operational experience, scientific depth and insight, and industry-specific market knowledge to Genospectra,” said Alan Frazier, Chairman of the Board, Genospectra. “Genospectra has exceeded expectations in meeting technology and product development milestones, and the company will now benefit from Frank’s strong product and business development leadership experience as we move into a commercialization phase.”

Genospectra Appoints CEO/2

“Genospectra has created a remarkable system that allows simultaneous transfer of information and materials using the massively parallel processing power of fiber optics,” said Dr. Witney. “This technological innovation holds the promise of eliminating a number of bottlenecks currently impacting the drug discovery processes. The levels of throughput and efficiency made possible by Genospectra’s technology will bring radical changes to this market.” “Genospectra is making rapid and admirable progress in developing its unique, massively parallel approach to drug discovery research,” said Dr. Alejandro Zaffaroni, renowned biotechnology pioneer and the founding investor of Genospectra. “Frank’s solid management experience with leading life science technology companies and vision for this industry will be a great asset to Genospectra as it continues to develop its commercialization strategy.” Genospectra, Inc. is a privately held life science company that is applying its proprietary fiber optics-enabled technology to develop a massively parallel processing platform and products for drug discovery.

The company was founded in April 2000 and is based in Fremont, California. For more information, please visit www.genospectra.com.