Burrill & Company Announces Promotions and Organizational Changes

SAN FRANCISCO, Jan. 5 /PRNewswire/ -- Burrill & Company, a San Francisco
based life sciences merchant bank, today announced a number of promotions and
organizational changes to reflect the success and growth of its business.

To Managing Director:

Giovanni A. Ferrara -- Over 7 years of experience in venture capital in
the biopharmaceutical industry and having held operating roles in portfolio
companies. Academic training in molecular biology. Serves on the Boards of
Directors of Agilix, CardioKine (observer), Spectral Genomics and Nucleonics.
Richard T. Haiduck -- Life science experience spans 25 years, including
7 years experience as a biotech dealmaker, at both the VP and CEO level, at
Geron and Desmos, combined with domestic and international pharmaceutical
profit center management for Abbott Laboratories.
James D. Watson -- Broad experience across therapeutics and technology.
Strategy, dealmaking, and commercial development skills from general
management and heading business development and marketing functions at Eli
Lilly, The Wilkerson Group, Chemdex, and Incyte Genomics. Led numerous
acquisitions and collaborations, launched major products, and built a
preeminent management consulting practice.
In addition, James Watson will assume the role of Merchant Banking
Practice Head leading the growth and coordination of the Strategic Partnering,
Advisory, and M&A components of the Merchant Banking Practice.

To Principal:

Bryant E. Fong -- Over 10 years of health science experience in the areas
of molecular biology, genetic engineering, partnering and alliances, and
direct investing. Serves as a Board observer of Catalyst, Cengent
Therapeutics, Elbion and Pharmasset.

To Director:

Stephen M. Kujawa -- Director of Business Development and previously in
new product development and management at Incyte Genomics. Before Incyte, he
was the Industry Manager for a Medical Device Group at Frost & Sullivan, an
international market research and consulting company.

To Senior Associate:

David Haselwood -- Held positions in marketing and business development at
Roche Molecular Diagnostics. Previously, Mr. Haselwood worked in the
healthcare investment banking departments of Volpe Brown Whelan & Co. and
Prudential Securities, where he executed numerous mergers and acquisitions for
early stage life sciences companies and helped raise over $1 billion in
private placements, IPOs and follow on offerings.
Rizwan Velji -- At the Human Molecular Genetics Department at Baylor
College of Medicine, served as Research Assistant with the Adenoviral Vector
Gene Therapy Group, with a special focus on its production and delivery
capabilities as a therapeutic.

"In 2004 our client and transaction base has extended across multiple
geographies and segments of the life science industry -- and now ranges from
top 10 pharmaceutical companies to small, private players. Based on this
validation of our value proposition, we are actively growing our Merchant
Banking Practice in 2005 and beyond," said James Watson.
"Our Merchant Banking Practice has had a very successful year and is
growing rapidly. We are expanding our service areas and growing in new
geographies such as China and India -- and both Dick and James will play a
major role in our continued success," commented G. Steven Burrill.
In addition, Burrill & Company has designated Ann Hanham, John Kim, Roger
Wyse, Mike Ullman, John Haag and Tim Young as General Partners in the Burrill
Life Sciences Capital Fund III which will have its first close at the end of
Q1 05.

About Burrill & Company
Burrill & Company is a life sciences merchant bank, focused exclusively on
companies involved in biotechnology, pharmaceuticals, diagnostics, human
healthcare and related medical technologies, wellness and nutraceuticals,
agricultural technologies, and industrial biotechnology

Venture Capital
The Burrill family of venture capital funds, with over $500 million under
management, includes the Burrill Life Sciences Capital Fund, the Burrill
Biotechnology Capital Fund, the Burrill Agbio Capital Fund and its successor--
the Burrill Agbio Capital Fund II, and the Burrill Nutraceuticals Capital
Fund. Burrill & Company has commenced raising its Burrill Life Sciences
Capital Fund III, a $300 million fund, which it expects to close in 2005.

Merchant Banking Services
Burrill & Company assists life science companies to identify, negotiate
and close strategic partnerships and merger and acquisition transactions
providing access to resources, technologies or collaborations essential for
executing company business plans. We have completed more than 20 strategic
partnerships with a value in excess of $1 billion.

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