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Eric Rowinsky, M.D. and Martin Cannon Join Tapestry Board of Directors
Date:12/5/2007

BOULDER, Colo., Dec. 5 /PRNewswire-FirstCall/ -- Tapestry Pharmaceuticals, Inc. (Nasdaq: TPPH) today announced the appointment of Eric K. Rowinsky, M.D., and Martin Cannon to the Company's Board of Directors. Dr. Rowinsky is Senior Vice President and Chief Medical Officer for ImClone Systems, Inc. Mr. Cannon is the President and Chief Executive Officer for New Health Sciences, Inc.

The Company also announced that Arthur Hayes, Jr., M.D. has resigned from Tapestry's Board after eleven years of service. Dr. Hayes informed the Company that his resignation is due to other fiduciary obligations which might potentially interfere with his duties as a Tapestry director.

"We welcome the wealth of oncology drug development and business management experience that Dr. Eric Rowinsky and Martin Cannon are bringing to our board," commented Leonard Shaykin, Chairman and Chief Executive Officer. "We also wish Dr. Hayes the very best in his future endeavors. Arthur is a dear friend of the Company and a man of great integrity; we will miss his counsel."

Dr. Rowinsky is Senior Vice President and Chief Medical Officer for ImClone Systems, Inc. where he is focusing exclusively on the development of novel cancer therapeutics. Previously Dr. Rowinsky served as Director of Clinical Research and later Director of the Institute for Drug Development of the Cancer Therapy and Research Center in San Antonio and the SBC Endowed Chair for Early Drug Development. He was also Clinical Professor of Medicine in the Division of Medical Oncology at the University of Texas Health Science Center at San Antonio. Prior to that, Dr. Rowinsky served as an Associate Professor of Oncology at the Johns Hopkins University School of Medicine. He was a longstanding National Cancer Institute principal investigator, integrally involved in pivotal clinical and preclinical investigations which led to the development of both classical chemotherapeutics and targeted therapies including paclitaxel, docetaxel, topotecan, irinotecan, erlotinib, and gefitinib, among others. Dr. Rowinsky is the Editor-in-Chief of Investigational New Drugs, an Associate Editor and/or Editorial Board Member of Cancer Research, Clinical Cancer Research, Annals of Oncology, Cancer Biology and Therapy and several other oncology journals and has published over 270 manuscripts in both the preclinical and clinical research fields. Dr. Rowinsky's honors include receipt of the career development award of the American Cancer Society and the 6th Annual Emil J. Freireich Award for outstanding achievement of a young researcher in clinical cancer therapeutics. He also served on the Board of Scientific Counselors of the NCI.

Martin Cannon, prior to his appointment as President and Chief Executive Officer of New Health Sciences, Inc., a company developing technology for diagnosis and management of neuro-degenerative diseases, was Executive Vice President at Commerce One, where he was responsible for all business consulting divisions and all of the company's E-Commerce exchanges. He was also founder of Cannon Associates, a consulting firm focused on high growth opportunities in new technologies and emerging markets, including extensive work in clinical diagnostics and therapeutics in the US and internationally. Previously he was a Partner at the management consulting firms AT Kearney and Bain and Company, leading major multiyear growth and profit improvement programs for numerous Fortune 500 companies in healthcare and life sciences.

Dr. Arthur Hayes commented: "I have enjoyed my tenure on Tapestry's Board and continue to believe strongly in the Company. From this point on I will be cheering from the sidelines."

About Tapestry Pharmaceuticals, Inc.

Tapestry Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development of proprietary therapies for the treatment of cancer. Tapestry's lead candidate, TPI 287 is in multiple Phase 2 clinical studies at this time.

For more information about Tapestry and its technologies, visit Tapestry's website at http://www.tapestrypharma.com.

Contact:

Tapestry Pharmaceuticals, Inc.

Gordon Link

Senior Vice President, Chief Financial Officer

303-516-8500

glink@tapestrypharma.com

Investor: Lilian Stern

Stern Investor Relations, Inc.

212-362-1200

lilian@sternir.com

Media: Dana Conti

Schwartz Communications

781-684-0770

tapestry@schwartz-pr.com


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SOURCE Tapestry Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
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