Formula Pharmaceuticals Appoints Martyn Greenacre to Board of Directors

Formula Pharmaceuticals, a privately-held oncology drug development company, today announced the appointment of Martyn Greenacre to the Board of Directors. Mr. Greenacre served as Chairman of BMP Sunstone Corporation, a pharmaceutical company recently acquired by Sanofi-Aventis."Martyn is a highly-valued addition to our Board of Directors," said Maurits W. Geerlings, Chief Executive Officer of Formula Pharmaceuticals. "His proven leadership, coupled with his extensive business and corporate development experience in the pharmaceutical industry, will be invaluable to us as we advance our lead clinical-stage program."Previously, Mr. Greenacre served as Chief Executive Officer and Director of Delsys Pharmaceutical Corporation, a formulation and drug delivery system company, where he helped raise more than $50 million in equity and partnership financing and formed three development partnerships with leading pharmaceutical companies. Prior to that, Mr. Greenacre served as President and Chief Executive Officer of Zynaxis Inc., a biopharmaceutical company, where he was responsible for a critical acquisition, divesting a non-performing business and negotiating a strategic merger. Mr. Greenacre also held positions of increasing responsibility in the European division of SmithKline Beecham Pharmaceutical Company, rounding out his time there as Chairman, Europe."I am excited to join the Formula leadership team at a time when the company is moving its lead drug candidate, FPI-01, towards Phase 2 clinical development for the treatment of first-remission acute myeloid leukemia and other cancers," said Mr. Greenacre. "I look forward to contributing my knowledge and expertise to supporting major milestones that are on the horizon for the company."Mr. Greenacre has also served on a number of start-up company Boards and currently serves as Chairman of the Board of Acusphere, Inc. (a drug delivery company), as Chairman of Life Mist Technologies, Inc. (a hospital biological decontamination company), and sits on the board of Curis, Inc. (a biotechnology company). Mr. Greenacre received a B.A. from Harvard College and an MBA from Harvard Business School.