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PharmAthene Appoints Eric I. Richman President and Chief Executive Officer
Date:10/21/2010

ANNAPOLIS, Md., Oct. 21 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that the Company's Board of Directors has appointed Eric I. Richman to the position of President and Chief Executive Officer, effective immediately.  Mr. Richman was previously appointed President and Interim Chief Executive Officer in May 2010, and prior thereto served as the Company's President and Chief Operating Officer.

John Pappajohn, Chairman of the Board of PharmAthene, commented, "Eric has done an exemplary job during his tenure as Interim CEO to strengthen our organizational performance and ensure PharmAthene is achieving operational excellence in all areas of our business.   As a seasoned biotech executive, we are confident that his dynamic and results-focused leadership style will continue to create strong shareholder value for the organization.  Along with the other members of the Board, I am delighted to confirm his appointment as PharmAthene's Chief Executive Officer."

"I am deeply honored by the Board's decision and the confidence they have placed in me, and look forward to working with the outstanding team of people at PharmAthene and our partners in the U.S. government to continue to achieve our objectives," commented Mr. Richman.  "I have great confidence in the future prospects of our Company.  With a strong biodefense portfolio encompassing urgently needed, next-generation medical countermeasures for anthrax and nerve agents, PharmAthene is committed to meeting the needs of the U.S. government to ensure the safety and well-being of Americans at home and on the battlefield."

Mr. Richman joined PharmAthene in October 2003, bringing extensive experience in the development and commercialization of novel biotechnology-ba
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SOURCE PharmAthene, Inc.
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