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Proteolix Names Matthew Ferguson to Newly-Created Position of Chief Financial Officer
Date:2/25/2008

SOUTH SAN FRANCISCO, Calif., Feb. 25 /PRNewswire/ -- Proteolix, Inc., a clinical-stage company engaged in the development of novel pharmaceutical therapies for the treatment of cancer and immunological conditions, announced that it has appointed Matthew Ferguson to the new position of Chief Financial Officer. Mr. Ferguson brings extensive experience arranging financing and managing rapid growth in both life sciences and technology companies.

"We are delighted to have Matt on board as a key member of the Proteolix management team," said Susan Molineaux, Ph.D., the Company's President and CEO. "His experience building teams and infrastructure in high-growth environments and securing financing in both the private and public markets will serve Proteolix well as we continue to advance our clinical and research programs."

Before joining Proteolix, Mr. Ferguson served as CFO at medical device maker FoxHollow Technologies, Inc. During his five-year tenure there, the company advanced its flagship technology for the treatment of peripheral arterial disease through development, FDA approval and commercial launch in the U.S. Mr. Ferguson led FoxHollow's 2004 initial public offering and played a significant role in the company's 2007 merger with ev3 Inc. Mr. Ferguson previously held a variety of financial management and business development positions at ChannelPoint, Inc. and Hewlett-Packard. Mr. Ferguson holds an M.B.A. from the University of California at Berkeley and M.S. and B.S. degrees in engineering from the University of Pennsylvania and Stanford University, respectively.

"The Proteolix opportunity is driven by an expert team, a large unmet clinical need and compelling early clinical results for carfilzomib," commented Mr. Ferguson. "I look forward to contributing my skills and experience towards our dual goals of improving the lives of patients and generating substantial returns for our shareholders."

About Proteolix

Proteolix, Inc. is a privately-held biopharmaceutical company, headquartered in South San Francisco, and dedicated to discovering, developing and commercializing pharmaceutical therapies that target certain cancers and immunological conditions by inhibiting the proteasome and thereby disrupting protein turnover in cells. In Phase I clinical studies, the Company's lead product candidate, carfilzomib (PR-171), demonstrated single-agent activity in the treatment of relapsed and refractory multiple myeloma. Carfilzomib is currently in Phase II clinical studies to evaluate its safety and efficacy in multiple myeloma, lymphoma and solid tumor malignancies. Proteolix is also developing a pipeline of next-generation proteasome inhibitors, including an oral proteasome inhibitor and a selective immunoproteasome inhibitor. For more information, please visit the Company's website at http://www.proteolix.com.

Contact information:

Matthew Ferguson

investors@proteolix.com

650-266-2600


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SOURCE Proteolix, Inc.
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