PHARMACOLOGICS LLC APPOINTS LUCIO DI CLEMENTE AS MANAGING PARTNER

PHARMACOLOGICS LLC APPOINTS LUCIO DI CLEMENTE AS MANAGING PARTNER Morristown, N.J., October 13 (PRN) - Pharmacologics LLC is pleased to announce the appointment of Lucio Di Clemente as Managing Partner. A seasoned senior executive with 15 years of general management, corporate and financial experience, Mr. Di Clemente most recently was President of MDS Laboratory Services in Canada. He becomes Pharmacologics' third managing partner, joining Ian Ferrier and Henry Pan. Pharmacologics selects, funds and manages the development of high quality new drug compounds sourced from the research and development portfolios of partnering pharmaceutical and biotechnology companies. Pharmacologics assumes the risk of development and participates in the gains achieved by successfully and rapidly advancing compounds through the drug development process. Pharmacologics has access to a stream of quality pharmaceutical assets, a large capital pool, world-class project management and drug development expertise. ''Lucio brings a wealth of experience to the role,'' said Dr. Ferrier. ''Adding his leadership, management and financial acumen substantially enhances the skills we bring to our global pharmaceutical and biotechnology partners. His appointment marks an important milestone in this company's aggressive growth strategy.'' Pharmacologics is a joint venture between MDS Inc. and Montrose Group LLC, two leading companies in the health care sector. Pharmacologics funds and develops promising drug candidates sourced from major pharmaceutical and biotechnology companies. Contact: Michael Cherenson of The Cherenson Group, tel USA +1 973 992 7800, ext. 104, mcherenson@cherenson.com, for Pharmacologics LLC