Senior management change at Celmed BioSciences

Montreal, QC March 17, 2003 Biotech firm Celmed BioSciences today saw the departure of president and chief executive officer Jacques M Saint-Denis. He will be replaced on an interim basis by Dr Andre de Villers, vice chairman of the board and special advisor of Theratechnologies, of which Celmed BioSciences is a subsidiary. Luc Tanguay, president and chief executive officer of Theratechnologies and chairman of the board of Celmed BioSciences made the announcement today.

Saint-Denis was appointed senior officer of Celmed BioSciences upon its creation in 2001 and worked actively at launching the company in Montreal and establishing it in California. Prior to his most recent responsibilities, Dr de Villers was the president and director of R&D, president and general manager, and president and chief executive officer of Theratechnologies.

Theratechnologies created Celmed BioSciences in June 2001 in order to maximize the potential of its cell therapy activities by transferring its ex vivo photodynamic program, known as Theralux. With facilities in Canada and the US, Celmed develops cell-based therapies for the treatment of hemato/immune and neurodegenerative disorders.

Theratechnologies is engaged in the discovery and development of therapeutic products in the field of endocrinology and metabolism.