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Lux Biosciences Names Paul Chaney, Former President (OSI) Eyetech
and EVP OSI Pharmaceuticals, to Board of Directors 

JERSEY CITY, N.J. (August 12, 2008): Lux Biosciences today announced the appointment of Paul G. Chaney to the company’s board of directors. Mr. Chaney is the former President of (OSI) Eyetech and Executive Vice President of OSI Pharmaceuticals. 

“Paul Chaney brings exceptional expertise in the global development and commercialization of ophthalmic pharmaceuticals at both large and small pharmaceutical companies, having been responsible for the successful launch of such products as Macugen^®, Tecnis^®, Healon5^®, Xalatan^® and Xalcom^®,” said Ulrich Grau, Lux Biosciences President and Chief Executive Officer. “His counsel will be especially valuable to our company as we complete the clinical development of our first product Luveniq^™ and anticipate its commercialization in the United States and Europe in 2010.” 

Mr. Chaney has more than 25 years of experience within the pharmaceutical industry, including seven years in management roles of increasing responsibility in the US and global ophthalmology franchise of Pharmacia Corporation. Ultimately Mr. Chaney served as Vice President, Global Commercial Operations, Ophthalmology Franchise, prior to Pharmacia’s acquisition by Pfizer in April 2003. He subsequently joined Eyetech in August 2003, serving as Chief Operating Officer, and then as President of (OSI) Eyetech and Executive Vice President, OSI Pharmaceuticals (OSIP) following the acquisition of Eyetech by OSI Pharmaceuticals. He began his career as a sales representative for The Upjohn Company in 1980. Mr. Chaney also serves on the Board of Directors of Eyegate Pharmaceuticals, a private company specializing in ophthalmic drug delivery headquartered in Lexington, MA. 

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) Luveniq™, 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 Luveniq™ for the treatment of uveitis, as well as the LUCIDA
  (Lux Corneal Transplant Implant Development and Advancement of Therapy) 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. Enrollment in the LUMINATE program was completed in June 2008.

•  LX214, a novel topical eye drop formulation currently in IND-enabling studies with a target date for entry into the clinic in late 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