Myrexis Appoints New Executive Management Team in Alignment With Strategic Initiatives

Myrexis, Inc.

announced today that its Board of Directors has appointed Richard B. Brewer as President and Chief Executive Officer, and David W. Gryska as Chief Operating Officer, effective today, May 11, 2012. In addition, both Mr. Brewer and Mr. Gryska have been appointed to Myrexis' Board of Directors. Mr. Brewer is the former Chief Executive Officer of Scios, Inc. and has served as Chairman of several biotechnology companies. Mr. Gryska is the former Senior Vice President and Chief Financial Officer of Celgene Corporation. Mr. Brewer and Mr. Gryska are an integral part of Myrexis' new strategic direction. Mr. Brewer and Mr. Gryska collectively have an extensive track record of commercializing, acquiring and marketing pharmaceutical products throughout their careers at companies including Genentech, Celgene, Scios, Dendreon and several other life science organizations. Mr. Brewer and Mr. Gryska worked together as CEO and CFO, respectively, at Scios, before ultimately selling the business to Johnson & Johnson for $2.5 billion in 2003. Gerald Belle, Chairman of Myrexis, stated, "The Board of Directors has been evaluating alternatives to increase shareholder value following our decision in February to suspend development activities on the Company's preclinical and clinical programs. Through this evaluation process, we made a decision to pursue the acquisition of one or more commercial stage assets. To accomplish this goal, we were fortunate to attract these talented executives with a depth of experience in biopharma and a proven track record of executing value-driving transactions."