London, UK: Modern Biosciences plc, the drug development company, today announces that Dr Clive Dix, non-executive Chairman, has been elected as Chairman of the BioIndustry Association (BIA) with effect from 1 January 2008. Dr Dix will succeed Dr Simon Best, who steps down following two years as BIA Chairman and will remain a member of the BIA Board.

Dr Dix has more than 20 years' experience in life science research, with over 15 years in senior pharmaceutical industry positions and a PhD in Pharmacology. He has an in depth understanding of all facets of drug discovery and development, a broad knowledge of the science and commercial landscape of a variety of therapeutic areas, and solid experience of the pharmaceutical business and finance community supporting the sector.

Prior to becoming Chairman of Modern Biosciences, Dr Dix was previously co-founder and Chief Executive of PowderMed Ltd, a vaccines development company acquired by Pfizer in November 2006.

Dr Simon Best, Chairman of the BIA, said: "I am delighted to welcome Clive as the BIA’s new Chairman. His experience gained from more than 20 years in the bioscience sector, including a number of significant corporate transactions, will be of great benefit for our members."

Commenting on his appointment Dr Clive Dix said: "Although the UK still has the leading bioscience sector in Europe, it faces some significant challenges, especially in terms of the funding environment both for early-stage and quoted companies. I look forward to working with the BIA to focus on addressing these challenges, as well as ensuring that patients get access to the innovative medicines in development by UK bioscience companies."

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Notes to Editors

Modern Biosciences plc

Modern Biosciences is a subsidiary of IP Group that was established in 2005 as a specialist drug in-licensing and development company. MBS' business model provides a channel for exciting early stage drug candidates to reach industry and is based around sourcing drug candidates from partner organisations, funding and managing development programmes to value inflexion and forming commercial alliances with industry for later stage development and marketing. Modern Biosciences is a subsidiary of IP Group plc.

PowderMed

PowderMed was a private immunotherapeutic company based in Oxford, UK focused on the clinical development and manufacture of therapeutic and prophylactic DNA-based vaccines for viral diseases and cancer. The Company was financed by £20 million in venture financing, from an investor syndicate comprising Abingworth Management, Advent Venture Partners, Isis College Fund, Oxford Bioscience Partners and SV Life Sciences. In November 2006 PowderMed was acquired by Pfizer Inc.

BioIndustry Association

Established in 1989, the BIA (BioIndustry Association) exists to encourage and promote a financially sound and thriving bioscience sector within the UK economy and concentrates its efforts on emerging enterprise and the related interests of companies with whom such enterprise trades.

With over 300 members, the BIA supports a wide range of sectors, majoring on the human health benefits of the technology and represents the interests of these innovative companies to a broad section of stakeholders from patient groups to politicians, advancing its members interests both within the UK and internationally to create a healthy UK bioscience sector which benefits society. For further information, please go to: www.bioindustry.org.

ENDS