Lipomics Technologies Appoints New CEO and Chief Scientific Officer

Lipomics Technologies Inc. has named Dr. Thomas (Tom) Anderson as CEO of the company and Dr. Steven (Steve) Watkins as CSO (chief scientific officer).

WEST SACRAMENTO, Calif., April 14, 2003 – Lipomics Technologies Inc., a privately owned company that specializes in lipid metabolite research and analysis services, today named Dr. Thomas (Tom) Anderson as CEO of the company and Dr. Steven (Steve) Watkins as CSO (chief scientific officer).

Previous to joining Lipomics in 2002 as vice president of business development, Anderson was a consultant to a number of companies with interests in biotechnology. He was also founder and president of the Berkeley Antibody Company (BAbCO), which he sold to Covance Research Products in 1988.

Watkins, a founder of Lipomics and president since inception, has accepted the additional position of CSO, which will allow him to further develop the companys proprietary lipid metabolite research.

Since joining Lipomics, Tom has made valuable contributions to build the companys position as the leading firm offering lipid metabolomic services to the pharmaceutical industrys drug discovery process," said Dr. Charles Soderquist, chairman of Lipomics. We look forward to a vibrant future for the company through his continued vision and leadership as our new CEO.

I am also pleased to announce Steves appointment as the companys chief scientific officer. Lipomics recognizes his extensive talent and knowledge of lipid metabolism as a research and discovery tool."

"My first year at Lipomics has convinced me that metabolomics in general and our companys technology in particular, is going to have significant impact on both drug discovery and on personalized and predictive medicine," said Anderson. In my new position, I will be able to work side by side with Steve to build this company, and to see the results of our efforts in improved human health through more effective drug discovery processes."

About Lipomics Technologies, Inc.

Lipomics Technologies, Inc. is a leading provider of quantitative and comprehensive lipid analyses and technologies that combine state-of-the-art technology for separation and quantification of lipid metabolites with informatic systems for generating knowledge about lipid metabolism. Lipomics specializes in assessing lipid metabolism associated with cardiovascular disease, obesity and diabetes and offers a range of analytical, database, software and consulting services.