IDEC Pharmaceuticals Announces Promotion and Additions to Management and Board

(BW HealthWire) — IDEC Pharmaceuticals Corporation (Nasdaq:IDPH) today announced the promotion of William R. Rohn to President and Chief Operating Officer. William H. Rastetter, Ph.D., will continue as Chairman and Chief Executive Officer.

Mr. Rohn has served as Chief Operating Officer since May 1998 and was appointed Senior Vice President, Commercial Operations in April 1996. He joined IDEC in August 1993 as Senior Vice President, Commercial and Corporate Development. Mr. Rohn will continue to be responsible for sales, marketing, business development, biopharmaceuticals sciences, manufacturing, process sciences, quality and medical affairs. Additionally, he will take on responsibility for chemistry, manufacturing and controls (CMC) and regulatory affairs.

“Bill has played a major role at IDEC since joining the company eight years ago,” said William H. Rastetter, Chairman and Chief Executive Officer. “He has helped establish and build Rituxan(R) (rituximab), our first commercial product with co-promotion partner Genentech, into a blockbuster therapeutic for certain B-cell non-Hodgkin’s lymphomas and he has made significant contributions to the development of Zevalin(TM) (ibritumomab tiuxetan), our second product candidate, for which we are seeking marketing authorization from the U.S. Food and Drug Administration. I look forward to working closely with Bill in his new, well-deserved role as IDEC’s President.”

New General Counsel

John Dunn has been appointed the company’s Senior Vice President, Legal and Compliance, and General Counsel. Kenneth J. Woolcott, IDEC’s General Counsel since 1992, will continue at the company as Special Counsel for a transition period. Mr. Dunn will head IDEC’s legal and compliance departments and serve as a member of the company’s senior management team.

Previously, Mr. Dunn had been a partner with Pillsbury Winthrop LLP and co-leader of the firm’s Biotech, Pharmaceuticals and Healthcare Industry Team. He has been practicing law for 22 years, specializing in corporate and business representation of public and private companies.

“We are delighted that John has joined IDEC as Senior Vice President and General Counsel,” said Rastetter. “He is already attuned to our corporate strategies and responsibilities, having served for a number of years as our outside counsel and a valuable consultant to the company.”

New Board Member

In addition, IDEC announced that Herbert Boyer, Ph.D., has been named to the Board of Directors. In 1976, Dr. Boyer and Robert Swanson founded Genentech, Inc., the world’s first biotechnology company. Using a technique patented by Dr. Boyer, Genentech licensed to Eli Lilly and Company its human insulin technology, which became in 1982 the first biotechnology product ever approved by the U.S. Food and Drug Administration. In 1985 Genentech became the first biotechnology company to launch its own biopharmaceutical product, human growth hormone. Dr. Boyer remained Vice President of Genentech from its founding until 1990. He has served on Genentech’s Board of Directors since its inception.

“We are deeply gratified to have one of the founders of our industry serving on our board,” said Rastetter. “Herb’s decades of experience will be a tremendous asset to IDEC as the company continues to grow and create new standards of care in cancer and autoimmune diseases.”

IDEC Pharmaceuticals focuses on the commercialization and development of targeted therapies for the treatment of cancer and autoimmune diseases. IDEC’s antibody products act chiefly through immune system mechanisms, exerting their effect by binding to specific, readily targeted immune cells in the patient’s blood or lymphatic systems. For a menu of IDEC’s current news releases and quarterly reports or to retrieve a specific release, call (888) 329-2309. On the Internet check the News Center at IDEC’s website:

The statements made in this press release contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from IDEC’s expectations. For example, the timing, success and cost of preclinical research and clinical studies, the timing, acceptability and review periods for regulatory filings, the timing of and ability to obtain regulatory approval of products, the achievement of future product sales, the level of manufacturing performance and the risk factors listed from time to time in IDEC’s SEC filings including but not limited to its Annual Report on Form 10-K for the year ended December 31, 2000 and Form 10-Q for the quarter ended September 30, 2001 may affect the actual results achieved by IDEC. These forward-looking statements represent the company’s judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

IDEC Pharmaceuticals and Rituxan are registered U.S. trademarks of the company. Zevalin is a trademark of the company. The company is headquartered at 3030 Callan Road, San Diego, CA 92121.CONTACT: IDEC Pharmaceuticals Corporation, San Diego Vince Reardon, Director, Corporate Communications 858/431-8656

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