ConjuChem announces management change

    MONTREAL, May 15 /CNW/ - ConjuChem Biotechnologies, Inc. (TSX:CJB)
announced today that Lennie Ryer, Vice President and Chief Financial Officer,
will be leaving the Company effective May 15. "I would like to thank Lennie
for his many years of service and contribution to ConjuChem," commented Mark
Perrin, President and CEO.
    Additionally, the Company announced the promotion of Chantal Lapointe, CA
to the role of Vice President, Finance. Previously, Mrs. Lapointe was
Director, Finance and Administration at ConjuChem. She has been with the
Company since 1998, prior to the Company's IPO, and has been directly involved
with all the Company's financial operations for the last eleven years. Mrs.
Lapointe is a graduate of the Université du Québec à Montréal and holds a
Bachelor degree in accounting. Regarding the appointment, Mark Perrin stated,
"I am very pleased to recognize Chantal's accomplishments and look forward to
her future contributions to the Company."

    About ConjuChem

    ConjuChem, developer of next generation medicines from therapeutic
peptides, is creating long-acting compounds based on bioconjugation platform
technologies. When applied to peptides, the Company's systemic PC-DAC(TM)
Technologies enable the creation of new drugs with significantly enhanced
therapeutic properties as compared to the original peptide.
    The Company has two major development programs: PC-DAC(TM):Exendin-4, a
GLP-1 agonist in Phase II and PC-Insulin, a long-acting basal insulin in
preclinical testing.
    Detailed descriptions of the Company and its technologies can be viewed
on the Company's website

    Forward-Looking Statements

    Some of the statements made herein may constitute forward-looking
statements. These statements relate to future events or our future financial
performance and involve known and unknown risks, uncertainties and other
factors that may cause ConjuChem's actual results, performance or achievements
to be materially different from those expressed or implied by any of the
Company's statements. Actual events or results may differ materially. We
disclaim any intention, and assume no obligation, to update these
forward-looking statements.

For further information:

For further information: Mark Perrin, President and CEO, ConjuChem
Biotechnologies Inc., (514) 844-5558 ext 311,; James
Smith, Investor Relations, (416) 815-0700 ext. 229,

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