NEWS

Galenea Corp. Appoints Mark Benjamin as Chief Executive Officer

Cambridge, MA. May 21, 2007 -- Galenea Corporation, a privately-held biopharmaceutical company focused on discovering and developing drugs to treat schizophrenia and other central nervous system (CNS) diseases, announced today the appointment of Dr. Mark Benjamin as President and Chief Executive Officer.

Dr. Susumu Tonegawa, 1987 Nobel Prize winner in Medicine, professor at the Massachusetts Institute of Technology (MIT), Howard Hughes Medical Institute Investigator and Galenea co-founder commented, "We are extremely pleased to welcome Mark to Galenea as CEO. His scientific knowledge, leadership skills, experience and business acumen make him a tremendous addition to the Galenea team."

Mark brings 16 years of experience in the pharmaceutical and biotech industries, including 13 years in business development. Prior to joining Galenea, Mark was the Chief Business Officer of Nura Inc., a neuroscience drug discovery company founded by 2004 Nobel laureate Dr. Linda Buck. Nura was acquired by Omeros Inc. in 2006. In previous positions, Mark served as Vice President of Global Business Development for Manteia SA, a Swiss-based subsidiary of Serono SA (now Merck KGaA) and was the senior business development executive at Rosetta Inpharmatics, a company founded by a team that included 2001 Nobel laureate Leland Hartwell. Rosetta was acquired by Merck & Company in 2001. Mark received a first class B.Sc. degree with honors from the University of London, and a D.Sc. degree in Cancer Biology from Harvard University.

"Mark's significant experience in both drug discovery and development make him an ideal candidate to lead this company in the next phase of our growth," said Dr. David J. Gerber, Vice President of CNS Research at Galenea, and the company's co-founder. "His strong scientific background and broad business experience will be essential as we advance our collaboration with Otsuka Pharmaceuticals and initiate new corporate alliances."

Galenea is applying its proprietary technology towards the discovery of treatments for schizophrenia and has secured $50M in financing from Otsuka Pharmaceuticals, Co., Ltd., a multinational company based in Japan. Abilify® (aripirazole), the fastest growing atypical antipsychotic, was discovered at Otsuka, and is developed and marketed under a collaborative arrangement between Otsuka and Bristol Myers Squibb (BMS). Since initiating the R&D collaboration with Otsuka in 2005, Galenea has been building an integrated drug discovery and development organization for the development of new classes of CNS therapeutics.

"I am thrilled about joining Galenea at this critical stage in the company's development," said Mark Benjamin. "The company has enormous potential to build a commercially valuable pipeline and Galenea's established team of world-class neuroscientists, and founders, coupled with a vibrant and productive collaboration with Otsuka, makes this a truly unique and exciting opportunity."

About Galenea Corp.
Galenea Corporation, based in Cambridge, Massachusetts, is an emerging biopharmaceutical company dedicated to enhancing and saving lives through the discovery of novel therapies for CNS diseases. Founded in 2004 based upon technology developed in the laboratories of Professor Susumu Tonegawa of MIT and Professor Maria Karayiorgou of Rockefeller University, Galenea is utilizing these proprietary technologies to generate breakthrough treatments for schizophrenia. For more information about Galenea, please visit the company's website at www.galenea.com.