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Genaera Elects New Board Member and Announces Executive Appointments
Date:9/28/2007

PLYMOUTH MEETING, Pa., Sept. 28 /PRNewswire-FirstCall/ - Genaera Corporation (Nasdaq: GENR) today announced the election of Mitchell D. Kaye, CEO of Xmark Asset Management LLC ("Xmark"), to Genaera's Board of Directors. The Board also elected Henry R. Wolfe, Ph.D., as Executive Vice President and Chief Scientific Officer, and Michael J. Gast, M.D., Ph.D., as Executive Vice President and Chief Medical Officer.

"We are pleased to add Mitch Kaye and his expertise to our Board of Directors," commented Jack Armstrong, President and CEO of Genaera. "Mitch brings a considerable understanding of capital markets and life sciences and how they can be effectively leveraged to build shareholder value. This appointment also reflects the contributions Mitch and Xmark have made to the Company."

Mr. Armstrong continued, "I am also very pleased to announce the updated and expanded roles for Dr. Wolfe and Dr. Gast. Henry has made great strides in moving business development forward and played an integral role in R&D, while Michael has done a stellar job in managing the clinical development side of the business, including liaison with our partner for the anti-IL-9 program, MedImmune/Astra Zeneca."

Mr. Kaye joins the Genaera Board of Directors, bringing the membership total to eight, and is expected to serve for the remainder of the Board's existing term through Genaera Corporation's 2008 Annual Meeting. As CEO and founding partner of Xmark, Mr. Kaye has been responsible for overseeing all life sciences investments for the firm since 1996. He received his B.A. from Wesleyan University, his J.D. from Northwestern University, and was admitted to the New York State Bar Association in 1996.

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