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Lux Biosciences Names Brett Skolnik Chief Financial Officer

JERSEY CITY, N.J., June 19, 2007-- Lux Biosciences, Inc., a privately held biotechnology company specialized in the field of ophthalmic diseases, announced today the appointment of Brett A. Skolnik as Chief Financial Officer. Mr. Skolnik was previously a managing director in the Health Care Group at Piper Jaffray & Company.

“Brett has had an extensive career as a financial executive and advisor to the biotechnology and pharmaceutical industry and has broad experience in merger and acquisition transactions, public and private offerings, and capital and financial management,” said Ulrich Grau, Ph.D., President and Chief Executive Officer of Lux Biosciences. “We are very pleased to welcome him to the Lux Biosciences management team. His many years of experience and his network in the financial community will serve our company well as our first products complete phase 3 clinical development and our company enters its next stage of growth.”

“I am excited to join Lux Biosciences at this critical time in the company’s development.  I believe the company’s two late-stage clinical programs and its diverse pipeline of earlier stage ophthalmic products hold tremendous clinical and commercial potential,” commented Mr. Skolnik.  “I look forward to working with Uli and the Lux management team as we continue to develop the product portfolio and build value at the company.” 

Prior to joining Piper Jaffray & Co., where he was a founding member of the company’s New York banking office, Mr. Skolnik held positions in the Health Care groups of SG Cowen Securities and Cowen & Company, and before that in the Mergers and Acquisitions groups of PaineWebber, Inc. and Kidder Peabody & Co.  Mr. Skolnik holds an MBA in finance from Columbia University and a BS in mechanical engineering from Lehigh University. 

About Lux Biosciences

Lux Biosciences, Inc. is a privately held biotechnology company focused on ophthalmic diseases. The company has a staged product portfolio of potentially first-in-class therapies distinguished by their short-term path to commercialization and potential to generate high revenue growth. The portfolio includes:

• Two Phase 3 clinical-stage projects including: i) LX211, the oral formulation of a next-generation calcineurin inhibitor (voclosporin) developed as steroid-sparing therapy for the treatment of non-infectious uveitis, and ii) LX201, a silicone matrix ocular (episcleral) implant that steadily releases therapeutic doses of cyclosporine A locally to the eye for the prevention of rejection in cornea transplant recipients. Both the LUMINATE pivotal clinical program for LX211 for the treatment of uveitis, as well as the LUCIDA pivotal clinical program with LX201 for the prevention of corneal transplant rejection were initiated in early 2007 and include sites in North America, Europe and India.

• LX214, a novel topical eye drop formulation currently in IND-enabling studies with a target date for entry into the clinic in 2008.  LX214 is based on Lux’ proprietary next-generation calcineurin inhibitor and is targeted towards other chronic inflammatory diseases of the eye, most notably dry eye syndrome, blepharitis and atopic keratoconjunctivitis.

• Several earlier stage projects based on proprietary product-enabling bio-erodible polymer technologies that facilitate targeted and sustained delivery of molecules to the eye.

For more information on Lux Biosciences, please visit the company’s website at www.luxbio.com.

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CONTACTS:

Lux Biosciences, Inc.
Ulrich Grau, Ph.D.
+1 201 946 0221
Ulrich.grau@luxbio.com

Kureczka/Martin Associates (media)
Joan Kureczka
+1 415-821-2413
Jkureczka@comcast.net