NUCRYST appoints new Chairman & CEO



    WAKEFIELD, MA, Aug. 22 /CNW/ - The Board of Directors of NUCRYST
Pharmaceuticals Corp. (NASDAQ:  NCST; TSX: NCS) today announced the appointment
of Thomas E. Gardner as Chairman, President and Chief Executive Officer of the
Company effective immediately. Mr. Gardner replaces Barry M. Heck as Chairman
and Scott H. Gillis as President and Chief Executive Officer. Mr. Gillis is
resigning his management and Board positions following eight years of leading
NUCRYST to pursue new opportunities. Mr. Heck will remain as a director.
    "A key role that was assigned to me as Executive Chairman was to work
with the Board to assess the assets and needs of the Company," said Mr. Heck.
"We determined that Tom Gardner's experience in managing emerging healthcare
technology companies would benefit NUCRYST in the development and
commercialization of our pipeline of medical products. Tom is an experienced
CEO with a track record of creating shareholder value. We are excited about
the prospect of his bringing that kind of success to NUCRYST. Scott Gillis has
done an excellent job leading the company's development over the past eight
years and he played a pivotal role in establishing our collaboration agreement
with Smith & Nephew, which resulted in the global sale and distribution of
Acticoat(TM) antimicrobial dressings with NUCRYST's SILCRYST(TM) nanocrystals.
We thank him for his many contributions to NUCRYST's growth and we look
forward to his continued support as we complete this management transition."
    "I look forward to building on the Company's successes to date and the
opportunity to generate significant shareholder value," said Mr. Gardner.
"Among our top priorities is leveraging our nanocrystalline silver platform
technology, which is the basis for our commercial agreement with Smith &
Nephew and their Acticoat(TM) brand of wound dressings."
    A director of NUCRYST since May 2007, Mr. Gardner specializes in the
strategic positioning of companies with particular emphasis on
pharmaceuticals, medical devices and healthcare information. Prior to his
current assignments, Mr. Gardner was CEO of a number of public and private
companies including: Songbird Hearing, Datamonitor, Base Ten Systems, and
Access Health. From 1970 to 1995, Mr. Gardner held senior marketing and
general management positions at Procter & Gamble, Johnson & Johnson, Simon &
Schuster and IMS Health. He currently holds board seats at several privately
held companies, including IntegriChain, VisiLED and Virium Pharmaceuticals.

    NUCRYST Pharmaceuticals develops, manufactures and commercializes medical
products that fight infection and inflammation using its patented atomically
disordered nanocrystalline silver technology. Smith & Nephew plc sell a range
of advanced wound care products under their Acticoat(TM) trade mark:
Acticoat(TM) products incorporate NUCRYST's SILCRYST(TM) coatings and are sold
in over 30 countries. NUCRYST is also developing new medical products to
address conditions that are characterized by infection and inflammation.

    Acticoat(TM) is a trademark of Smith & Nephew plc
    SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.

    This news release contains forward-looking statements within the meaning
of securities legislation in the United States and Canada (collectively
"forward-looking statements"). The words "would", "will", "prospect",
"determine", "should", "might", "expects" and "plans" and similar expressions
are intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Forward-looking
statements in this news release include, but are not limited to, statements
about: our strategy, future operations, prospects, plans of management and our
ability to successfully expand the company's business and product pipeline and
develop future products containing our nanocrystalline silver technology. With
respect to the forward-looking statements contained in this news release,
readers are cautioned that numerous risks, uncertainties and other factors
could cause our actual results to differ materially from those indicated in
these statements including, but not limited to: difficulties or delays in the
initiation, timing, progress and results of our preclinical trials and
research and development programs relating to the development of products
containing our nanocrystalline silver for treatment of gastroenterology
indications; our ability to maintain our collaboration with Smith & Nephew;
our reliance on sales of Acticoat(TM) products with our SILCRYST(TM) coatings
by Smith & Nephew; future sales of Acticoat(TM) may not be sufficient to
adequately fund our research and development plans; our future operation
results are uncertain and likely to fluctuate; we may not be able to retain
existing and obtain new regulatory approvals for our NPI 32101 barrier cream
and any future products; we may not be able to establish successful
commercialization programs, through new corporate collaborations or otherwise,
for our NPI 32101 barrier cream or for other future products; competition from
other silver-based pharmaceutical or medical device companies; our ability to
raise additional financing required to fund further research and development,
clinical studies and obtain regulatory approvals, on commercially acceptable
terms or at all; changes in currency exchange rates; our ability to protect
our intellectual property rights and to not infringe on the intellectual
property rights of others; our ability to comply with governmental regulations
and standards; our ability to successfully attract and retain skilled and
experienced personnel; changes in general economic and capital market
conditions; other risks and uncertainties unidentified at this time;
management's response to these factors; and other factors described under
"Risk Factors" in our Annual Report on Form 10-K for the year ended
December 31, 2006, filed with the U.S. Securities and Exchange Commission on
EDGAR at www.sec.gov and with securities authorities in Canada on SEDAR at
www.sedar.com. All forward-looking statements are expressly qualified in their
entirety by this cautionary statement and NUCRYST disclaims any intention or
obligation to revise or update any forward-looking statements whether as a
result of new information, future developments or otherwise after the date
hereof.

    %SEDAR: 00023031E




For further information:

For further information: David Wills, Investor Relations, (416)
504-8464, info@nucryst.com

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NUCRYST PHARMACEUTICALS CORP.

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