IDEC Pharmaceuticals Announces New Senior Vice President and Chief Medical Officer

(BW HealthWire) — IDEC Pharmaceuticals Corporation (Nasdaq:IDPH) today announced the appointment of Paul Grint, M.D., as chief medical officer and senior vice president, clinical research and development, effective today. In his new position, Dr. Grint, formerly of Schering-Plough Research Institute (SPRI), will be responsible for overseeing all clinical R&D activities in support of IDEC’s products under development.

“We are very pleased to have Paul Grint join the IDEC team,” said William H. Rastetter, IDEC’s chairman, chief executive officer and president. “He will play a key role in enhancing our strategic focus in cancer and autoimmune diseases. Paul will provide counsel regarding clinical development of IDEC’s next generation of therapeutic agents and in the in-licensing of promising products in our oncology and autoimmune disease programs.”

Antonio J. Grillo-Lopez, M.D., IDEC’s current chief medical officer and senior vice president, will retire from the company in January 2001 after more than eight years with IDEC. Dr. Grillo-Lopez joined IDEC as vice president, Medical and Regulatory Affairs, in November 1992 from Du Pont Merck Pharmaceutical Company. He was promoted to senior vice president, Medical and Regulatory Affairs, in January 1996 and chief medical officer in May 1998.

“IDEC would not be where it is today were it not for the major contributions of Dr. Grillo-Lopez,” said Rastetter. “Antonio artfully guided our first commercial product Rituxan(R) through clinical development and final approval by the U.S. Food and Drug Administration in November 1997. He has exercised the same vision, determination and graceful humor overseeing the clinical development of our other product candidates including our second investigational agent ZEVALIN(TM) (Ibritumomab Tiuxetan), whose Biologics License Application was submitted to the FDA on November 1, 2000.”

Dr. Grillo-Lopez will become a member of IDEC’s Clinical Advisory Board and retain the title of chief medical officer, emeritus.

Dr. Grint comes to IDEC from SPRI in Kenilworth, New Jersey where he was vice president of Clinical Immunology and Biotechnology. In addition, he was chairman of the Biotechnology Therapy Team and an Honorary Lecturer in the Department of Virology at St. Bartholomew’s Hospital in London.

While at SPRI, Dr. Grint oversaw development of a broad-based product line and helped stimulate new business development through his involvement in licensing pharmaceutical compounds across key business areas.

Prior to becoming vice president of Clinical Immunology and Biotechnology, Dr. Grint held a number of positions of increasing responsibility at SPRI, including: executive director of the clinical data management re-engineering project, senior director, distinguished clinical research physician and director of clinical research in the Anti-Infectives Department. He received his medical degree at University of London, St. Bartholomew’s Hospital Medical College, London and is a Fellow of the Royal College of Pathologists.

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, such as ZEVALIN (Ibritumomab Tiuxetan), 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 S-3 filed on November 16, 2000, its Annual Report on Form 10-K for the year ended December 31, 1999 and Form 10-Q for the quarter ended September 30, 2000, 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’s headquarters is located at 3030 Callan Road, San Diego, CA 92121.

IDEC Pharmaceuticals’ press releases are available at no charge through Business Wire’s News on Demand Plus. For a menu of IDEC’s current press 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 http//

CONTACT: IDEC Pharmaceuticals, San Diego