Market Overview

Elstar Therapeutics Appoints Leaders in Drug Research and Development to Board of Directors


-- Rupert Vessey, President of Research and Early Development at
Celgene, and John Hastewell, former Head of Novartis' NIBR Biologics
Research Center, named as independent Board Members --

Elstar Therapeutics, a company fulfilling the promise of precision
cancer immunotherapy through a powerful new approach to generating
multi-functional therapies, today announced the appointment of Rupert
Vessey and John Hastewell, to the company's Board of Directors as
independent directors.

"Rupert and John's broad expertise spanning all phases of drug R&D from
early discovery to preclinical development, manufacturing and clinical
studies will be instrumental in the advancement of our drug candidates
into clinical trials," said Steve Arkinstall, President and Chief
Executive Officer of Elstar Therapeutics. "We believe that our UniTI™
platform is positioned to be part of the cure for cancer and are
confident that the expansion of our Board of Directors will help us
achieve our mission to develop and deliver new and meaningful cancer
treatments to patients."

"It is an honor to join Elstar's Board of Directors at such an exciting
time in the company's growth," said Dr. Rupert Vessey. "I have been
highly impressed with the molecules that Elstar is developing and I look
forward to working with the experienced and dynamic team at Elstar to
fulfill the promise of precision cancer immunotherapy through the
generation of innovative antibody-based, multi-functional drugs for
hematological and solid cancers."

Rupert Vessey, MA, BM BCh, FRCP, DPhil is the Executive Vice President
and President of Global Research and Early Development at Celgene, where
he is responsible for the oversight of all internal and external
discovery research, preclinical development, and early clinical
development. Before joining Celgene, Dr. Vessey was Senior Vice
President of Early Development and Discovery Sciences at Merck where he
was responsible for numerous drug development programs. He also served
as Senior Vice President and Head of Early Development and Discovery
Sciences, Senior Vice President and Head of the MRL Respiratory and
Immunology Franchise, Vice President Drug Discovery and Site Head for
MRL Boston and Vice President Drug Discovery and Site Head for MRL
Kenilworth. Prior to his ten years at Merck, Dr. Vessey worked in drug
discovery, experimental medicine, and early clinical development at
GlaxoSmithKline where he served as Vice President, Target Discovery and
Senior Director, Discovery Medicine. Dr. Vessey holds an MA in
physiological sciences and a BM BCh in clinical medicine from Oxford
University where he completed his DPhil at the Institute for Molecular
Medicine, Oxford. He was elected as a Fellow of the Royal College of
Physicians, London.

"Elstar's UniTI molecules are designed to regulate a broad-range of
immunological activities and target tumor cells to reduce systemic
toxicity while delivering excellent manufacturing and drug-like
properties," said Dr. John Hastewell. "The technology that Elstar has
developed is truly transformative and I am eager to apply my experience
in the discovery and development of protein-based therapies to help
accelerate the progression of Elstar's new cancer immunotherapies to
clinical trials."

John Hastewell, DPhil served in a series of wide-ranging roles in his
nearly 30 years at Novartis. Most recently, he was the Head of Novartis
Institutes for Biomedical Research (NIBR) Biologics Center where he was
responsible for the discovery of antibody, protein, and nucleic
acid-based therapeutics. Formerly, he was the Global Head of the Program
Office where he worked on NIBR's research strategy and portfolio
management and oversaw the company's strategic focus on building their
biologics drug pipeline. Before working at NIBR, Dr. Hastewell also
served in several leadership roles at Novartis based in the UK,
including Head of Thrombosis Research, leadership of biochemistry and
pharmacology, as well as overseeing all respiratory research disease
projects to ensure rapid and effective translation to the clinic. He was
also the Head of a strategy team defining the company's long-term
research direction and led the Immunology Platform across all Novartis
disease areas. Dr. Hastewell obtained his BA degree in biochemistry from
Oxford and his DPhil from University of York in the UK.

About Elstar Therapeutics, Inc.

Elstar Therapeutics is fulfilling the promise of precision cancer
immunotherapy through a powerful new approach to generating
antibody-based, multi-functional therapeutics.

Armed with a unique approach to engaging multiple immune mechanisms,
Elstar enables patients to harness their own body to fight cancer.

Elstar's Universal Targeted Immunotherapy (UniTI™) platform is
positioned to overcome barriers that are limiting the full potential of
other promising immunotherapeutic approaches.

"Our motivation…to be part of the cure for cancer."

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