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Glycominds Appoints Board of Directors Chairman

LOD, Israel, October 18 /PRNewswire/ -- Glycominds Ltd., a biodiagnostics company specializing in glycan biomarkers for diagnosis and disease management of autoimmune diseases and cancer, announced today the appointment of Dr. Chen Even as Chairman of the Company's board of directors. Dr. Chen, a board member since 2004, contributes more than a decade of experience in in-vitro diagnostics.

"We are very pleased to elevate Dr. Even to the role of Chairman," stated Dr. Avinoam Dukler, Glycominds' co-founder, director and Chief Executive Officer. "As a valuable member of our team, his in-depth experience in in-vitro diagnostics has heightened the credibility of Glycominds and our glycan technology as we roll-out our innovative tests for autoimmune prognosis and the early detection of cancer in Israel, Europe, and the U.S. In addition to his strong scientific educational background, he raises our Company's profile in preparation for an initial public offering in the U.S."

Dr. Even is a board member and Senior Corporate Vice President of Commercial Operations at DiaSorin, where he participated in management buyout in 2000. The Italy-based developer and manufacturer of reagents for in-vitro diagnostics markets its products world-wide in the fields of infectious disease, hepatitis, endocrinology, bone and mineral metabolism, cancer, brain injury, cardiac disorders, therapeutic drug monitoring and autoimmunity. In recent years Dr. Even has been responsible for executing DiaSorin's growth and acquisition strategies. Prior to DiaSorin, Dr. Even was a Director of Molecular Biology and Director of Worldwide Distribution for the medical division of American Standard International. He has a Ph.D. in microbiology/virology and a bachelor's degree in computer science from the University of Minnesota, and completed his fellowship in neurology at the University of California. He has also been awarded several grants and published over twenty publications in peer-reviewed journals.

"Glycominds' glycan technology stands out as innovative and unique in comparison to the vast number of technologies and scientific approaches that I have seen throughout my years of involvement in the medical diagnostics industry," stated Dr. Even. "I believe that glycan technology has the potential to enhance autoimmune prognosis and the early detection of cancers. Glycominds is clearly pioneering the direction forward for adoption of glycan biomarkers in our industry and is greatly contributing to the visibility and international recognition of Israeli innovations and contribution in the field of medical in-vitro diagnostics."

About Glycominds, Ltd.

Glycominds Ltd. is a biodiagnostics company specialized in developing and commercializing glycan biomarkers, a new class of early diagnostic and prognostic tests based on complex sugar molecules for the detection and management of autoimmune diseases and cancer. The company's goal is to provide physicians with tools that improve treatment selection in autoimmune diseases and early detection of cancers.

Glycominds lead product, IBDX(R), a blood test for early diagnosis of Inflammatory Bowel Disease (IBD) and the prognosis of Crohn's disease severity is commercialized in Israel and Europe, with a U.S. launch planned in early 2008. The Company's gMS(TM) Dx, a blood test for early diagnosis of Multiple Sclerosis (MS), and gMS(TM) PRO, a prognostic test for MS activity, are also expected to enter the market in 2008. Glycominds' other pipeline products include blood tests for the prediction of recurrent pregnancy loss based on hyper-coagulation caused by antiphoshpholipids syndrome (APS), and first-in-class screening tests for breast and colorectal cancers.

For more information, please contact:

Glycominds, Ltd.

Dr. Avinoam Dukler

Chief Executive Officer

The Ruth Group

Sara Ephraim (investors)

Phone: +1-646-536-7002

Janine McCargo (media)

Phone: +1-646-536-7033

SOURCE Glycominds Ltd.
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