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PeriCor Therapeutics Appoints K. Tucker Andersen to Board of Directors

Larry G. Pickering Resigns from the Board of Directors

NEW YORK, Feb. 12 /PRNewswire/ -- PeriCor Therapeutics today announced the appointment of K. Tucker Andersen as a director of the Company's Board of Directors effective February 7, 2008. Mr. Andersen is a retired portfolio manager and security analyst and the sole proprietor of the consulting firm Above All Advisors, LLC. The Company also announced that on February 1, 2008, Larry G. Pickering resigned as a director of the Company.

"We are very pleased that Tucker has agreed to join the PeriCor Board of Directors," stated Richard R. Stover, President and CEO of PeriCor Therapeutics. "Tucker brings a wealth of financial and corporate experience to the company. His extensive background as an investor and director of a variety of businesses will be an asset to the development of PeriCor Therapeutics." Mr. Stover further stated, "We would also like to thank Larry Pickering for his dedication and service to the Company. Mr. Pickering made valuable contributions to the strategic direction of PeriCor during his time as a director and we wish him well in the future."

Before founding Above All Advisors, LLC, Mr. Andersen was co-Managing Partner and Chief Investment Strategist for Cumberland Associates. He currently serves as chairman of Artificial Cell Technologies, a biotechnology-nanotechnology venture stage firm and serves on the boards of the International Foundation for Research in Experimental Economics (headed by Nobel Laureate Vernon Smith), the Cato Institute, GOPAC, the Questech Corporation, the Foundation for the Advancement of Monetary Education, and the Warren, Connecticut Congregational Church. He is also on the advisory board of Brook Venture Partners, and has recently become a Founding Partner of Value Insight Partners, a fund of funds investing in a select group of value oriented hedge funds with diverse investment strategies. While retired from his position as vice-president of the board of the Phillips Exeter Academy, he still serves as a member of Exeter's investment committee which he formerly chaired. Mr. Andersen is a Chartered Financial Analyst and Associate Member of the Society of Actuaries. He received his Bachelor's degree in Quantitative Studies from Wesleyan University and is the recipient of Wesleyan's Distinguished Alumnus Award and of the Founder's Day Award from Exeter.

About PeriCor Therapeutics

PeriCor Therapeutics, Inc. is a privately-held specialty biopharmaceutical company focused on the development and commercialization of a new class of medicines, adenosine regulating agents, to prevent the perioperative complications of surgery and improve the treatment and outcomes of acute cardiovascular care.

SOURCE PeriCor Therapeutics, Inc.
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