North Charleston, South Carolina – November 28, 2005 – Argolyn Bioscience Inc. announced today that Dr. C. Thomas Caskey has been elected to its Board of Directors. Dr. Caskey brings deep experience in both the pharmaceutical and biotechnology industries.

Dr. Caskey's outstanding research career includes serving as the Senior Vice President for Research at Merck Research Laboratories and President of the Merck Genome Research Institute. Dr. Caskey is a prolific inventor having identified and patented the genetic basis of a number of heritable diseases including Fragile X Syndrome and myotonic dystrophy. He is a member of the National Academy of Sciences and the Institute of Medicine and a past President of the Human Genome Organization.

Dr. Caskey is the current President of the Texas Academy of Medicine, Engineering, and Science and serves on Texas Governor Perry's Council on Science and Biotechnology which reviews and approves funding via the $200 million Texas Emerging Technology Fund. He is the recipient of countless academic and industry-related honors and awards.

Through his role as President and Chief Executive Officer of Cogene Biotech Ventures, Dr. Caskey has and continues to serve on the boards of several venture-backed biotechnology companies. Dr. Caskey is a graduate of the University of South Carolina and earned his MD from the Duke University School of Medicine.

"Tom Caskey has an incredible record of achievement in the biotechnology and pharmaceutical industries. When you look at his resume, it's hard to believe it is the work of a single person," said Argolyn Bioscience CEO Pearce Gilbert. "In addition to his leadership and intellect, Dr. Caskey brings vast product development experience and a clinician's perspective. It is a great credit to Argolyn Bioscience that Dr. Caskey wants to be involved in our company."

Argolyn Bioscience Inc.

Argolyn Bioscience, Inc. is a privately held biopharmaceutical company dedicated to discovering and developing novel peptide drug candidates to treat psychosis, pain, and other serious diseases and disorders. Argolyn's most advanced development candidate is ABS201, a first-in-class peptide derivative currently in preclinical development for the treatment of schizophrenia. A second development candidate will soon enter preclinical development as a first-in-class therapy for neuropathic pain. These, and other product candidates, were developed using a proprietary amino acid analog substitution technology which enables the rapid and efficient discovery of novel, peptide-based drug candidates.

Argolyn Bioscience continues to seek other opportunities to disseminate the technology either through collaboration or out-licensing. For more information, contact the company or visit the website at www.argolyn.com.