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Molecular Insight Pharmaceuticals Announces Management Additions: Company Appoints Bob Gallahue, CPA, As Chief Financial Officer and Priscilla Harlan As Vice President, Corporate Communications

Posted on: Thursday, 21 July 2005, 09:00 CDT

Molecular Insight Pharmaceuticals, Inc. today announced the appointments of Bob Gallahue, CPA, as Chief Financial Officer and Priscilla Harlan as Vice President, Corporate Communications. Mr. Gallahue will oversee financial planning and administration and communications for the company. He brings over 15 years of financial management expertise at public and private biotechnology companies, including Millennium Pharmaceuticals, LeukoSite, Inc., Keryx Biopharmaceuticals and VaxInnate Corp. Ms. Harlan's expertise in corporate communications spans strategic corporate and investor relations during a 20-year career in the biotechnology and pharmaceutical industries. Her role at Molecular Insight will be the development of overall corporate communications, where she will oversee public relations, investor relations, and scientific communications.

"Bob and Priscilla's extensive experience in developing and implementing high impact programs will further strengthen Molecular Insight's operational and communications capabilities," said David Barlow, Chairman and CEO of Molecular Insight. "These talented executives will immediately contribute to our continued value creation as we move towards becoming an integrated discovery, development and marketing organization."

Molecular Insight is developing BMIPP, a molecular imaging pharmaceutical, for the detection of cardiac ischemia, initially for use in triaging emergency room patients with suspected acute coronary syndrome. A Phase 2b clinical trial of BMIPP was completed recently, with a Phase 3 program anticipated to begin around year-end. The company's compound MIP-120T is in late preclinical development for the treatment of neuroendocrine tumors and is expected to begin clinical studies in early 2006.

Mr. Gallahue joins Molecular Insight from VaxInnate, where he was Interim Chief Financial Officer. Previously, he was CFO and Treasurer of Keryx Biopharmaceuticals, where he was part of the management team that took the company public. Prior to Keryx, he served in financial positions of increasing responsibility at LeukoSite, Inc. (later acquired by Millennium Pharmaceuticals), and Repligen Corporation. Mr. Gallahue is a CPA and holds an M.S.A. degree from Bentley College and a B.A. degree from Middlebury College.

Ms. Harlan joins Molecular Insight from Complete Healthcare Communications, a medical communications consultancy, where she was an Account Director for pharmaceutical clients. Previously, she served in senior investor relations positions at Feinstein Kean Healthcare, a communications consulting firm, where she designed and implemented strategic communications initiatives for emerging companies. Prior to that she directed corporate communications and investor relations at Sepracor Inc. and one of its subsidiaries. Ms. Harlan holds a B.A. degree in biology and history from the University of North Carolina.

About Molecular Insight Pharmaceuticals, Inc.

Molecular Insight Pharmaceuticals is developing and commercializing innovative molecular imaging pharmaceuticals and targeted radiotherapeutics to diagnose and treat disease. The company's lead product candidate, BMIPP, has completed Phase 2b clinical development for use in triaging emergency room patients with suspected acute coronary syndrome, a situation that results in over six million emergency room visits annually in the United States. Molecular Insight Pharmaceuticals also has a radiotherapeutic, MIP-120T, in late preclinical development and molecular imaging programs in cardiology, neurology, and oncology. The company's pipeline leverages proprietary technologies for targeting, visualizing, treating, and monitoring disease. Molecular Insight Pharmaceuticals is based in Cambridge, Massachusetts. The Web site is located at www.molecularinsight.com.

Source: Business Wire

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