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PharmAthene Enhances Executive Leadership Team and Appoints Joan Fusco, Ph.D. Senior Vice President of Operations
Date:2/8/2008

ntinued, "Both Valortim and Protexia continue to make excellent progress. We are presently focused on manufacturing scale-up for Valortim and recently commenced a 2000L engineering run. If successful, it will enable Valortim to be positioned for procurement by the U.S. government as early as 2010. Similarly, we've completed process development activities for Protexia and anticipate commencing our first trial in humans later this year to evaluate safety. With Joan's oversight we believe we can enhance the opportunities for success for each of these programs."

Dr. Fusco is a graduate of the University of Pittsburgh where she received a Ph.D. in Microbiology/Biological Sciences.

About PharmAthene, Inc.

PharmAthene (Amex: PIP) was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons. PharmAthene's lead programs include Valortim(TM) for the prevention and treatment of anthrax infection and Protexia(R) for the prevention and treatment of morbidity and mortality associated with exposure to chemical nerve agents. For more information on PharmAthene, please visit http://www.PharmAthene.com.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, includin
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