October 30, 2008

Institute for OneWorld Health Announces New Chief Executive Officer

The Institute for OneWorld Health, the US-based non-profit pharmaceutical company that develops drugs for people with neglected infectious diseases in the developing world, today announced the appointment of Richard Chin, M.D., as its new Chief Executive Officer.

"We are excited to bring a scientist of Dr. Chin's caliber to lead OneWorld Health into its next phase of growth and development," said Herbert Montgomery, Board member and Co-Chair of OneWorld Health's Search Committee of the Board of Directors.

"I am delighted to join OneWorld Health and I look forward to working with its leadership, partners and supporters to develop safe, effective and affordable drugs for the world's most impoverished patients," said Dr. Chin. "I've long admired OneWorld Health's groundbreaking, compelling approach toward addressing global health challenges and I look forward to helping advance their mission."

Dr. Chin is a Harvard trained, Board Certified Internist, with extensive expertise in drug development. Dr. Chin has overseen over 40 Investigational New Drug (IND) Applications for new molecular entities and new indications, as well as eight New Drug Applications (NDAs)/Biologic License Applications (BLAs), and has authored a major textbook on clinical trial medicine. Dr. Chin joins OneWorld Health from OXiGENE, where he served as President and Chief Executive Officer. Prior to OXiGENE, Dr. Chin served as Senior Vice President and Head of Global Development for Elan Corporation, where he had worldwide responsibility for Clinical Development, Regulatory, Biostatistics, CMC, QA/Compliance, Safety and Medical Affairs. Dr. Chin has also held various clinical and scientific roles for Genentech, Inc. including Head of Clinical Research for the Biotherapeutics Unit, overseeing approximately half of the drugs at Genentech, and began his career at Procter and Gamble Pharmaceuticals, where he served as Associate Medical Director.

Dr. Chin holds a Medical Degree from Harvard Medical School, received a Masters degree and Bachelor of Arts degree in Law with honors from Oxford University in England under a Rhodes Scholarship and graduated with a Bachelor of Arts in Biology, magna cum laude, from Harvard University. Dr. Chin is a Diplomate, American Board of Internal Medicine and is licensed to practice medicine in California. He previously served on the Adjunct Clinical Faculty of Stanford University School of Medicine and currently serves on the Board of Directors of Genmedica, located in Barcelona, Spain.

Dr. Chin succeeds Ahvie Herskowitz, M.D., co-Founder and current CEO.

About the Institute for OneWorld Health

The Institute for OneWorld Health, the first US nonprofit pharmaceutical company, develops safe, effective and affordable medicines for people with neglected diseases of the developing world. The Institute for OneWorld Health, headquartered in San Francisco, California, USA, is a tax-exempt 501 (c) (3) US corporation. (http://www.oneworldhealth.org/). Media resources are available at http://www.oneworldhealth.org/media/index.php/.