Sir Brian Richards joins the Board of Lipoxen Technologies

London, UK, 25 May 2005 Lipoxen Technologies Ltd, the drug and vaccine delivery company, today announced the appointment of Sir Brian Richards CBE to its Board as Non-Executive Chairman. In this role he will guide Lipoxen through the next stages of development as it seeks to develop protein therapeutics and vaccines based on its drug and vaccine delivery technologies, PolyXen™ and ImuXen™ respectively.

Sir Brian brings a wealth of experience in developing and building some of Europe’s leading biotech companies. After 13 years of basic research at the Medical Research Council’s Biophysics Research Unit at Kings College, London and 20 years in the pharmaceutical industry, he co-founded British Bio-technology Ltd in 1986 and served as Executive Chairman until 1994. He subsequently held Non-Executive Chairmanships or Directorships in several biopharmaceutical companies including Peptide Therapeutics (later Acambis plc), Oxford Biomedica plc and CeNeS Ltd. Currently Sir Brian chairs the Boards of Alizyme plc, Cozart plc and MAN Mail (Guernsey) Ltd. Throughout his industrial career he served on a series of government committees aiming to facilitate and encourage the practical applications of generic modification for the development of biopharmaceuticals. Sir Brian was awarded a CBE in 1990 and a knighthood in 1997; both awards were for services to the biotechnology industry.

Scott Maguire, CEO of Lipoxen said: "I am delighted that we have been able to attract such a high calibre individual to our Board. Sir Brian’s experience in building some of the largest European biotech companies will be an invaluable resource for Lipoxen as we exploit our proprietary technologies. His strategic insight and guidance will greatly assist the Company in realising the potential of our extensive pipeline of protein therapeutics and vaccines, and our global collaborations."

--ENDS—

For further information please contact:

Lipoxen Technologies 0207 953 0572

Scott Maguire, CEO

Dr Peter Laing, Director of Business Development

Northbank Communications 0207 886 8150

Emma Palmer

Katja Stout

Rowan Minnion

Notes to editors

Lipoxen has a broad portfolio of delivery technologies for drugs and vaccines as well as expertise to assist and enable pharmaceutical and biotechnology companies to optimize the performance of their drugs and vaccines, improve delivery, extend product franchises, and fuel their product pipelines.

PolyXen™ is a multifaceted platform technology that employs the natural polymer polysialic acid (PSA) to prolong the active life and improve the pharmacokinetics of therapeutic proteins and peptides, as well as conventional drugs. PolyXen™ is considered a next generation to PEGylation. ImuXen™ is an advanced platform technology that employs novel liposome constructs to boost the effectiveness of DNA, protein and polysaccharide vaccines. ImuXen can achieve in a single dose with conventional vaccine antigens protective immunity which otherwise requires multiple doses.

Lipoxen has 11 proprietary product candidates in development/preclinical phase. A few of our candidates include insulin,interferon, EPO, and hepatitis B and pneumococcal vaccines. The Company also has collaborations with three of the four world’s largest biotechs, the world’s largest generics and the world’s largest vaccine company.

For more information, please go to the company’s web site, www.lipoxen.com .