BIO President Carl Feldbaum to Retire at Year End

WASHINGTON, D.C. (February 2, 2004) - Biotechnology Industry Organization (BIO) President Carl B. Feldbaum and BIO Chairman Richard Pops today issued the following joint statement:

"After more than 30 years in Washington, D.C., and 11 years as the president of BIO, I have decided to retire at the end of 2004. My wife, Laura, and I will be moving to Idaho to begin the next phase of our lives. Accordingly, I have discussed with our chairman, Richard Pops, and with BIO's Executive Committee, a plan to initiate a process which will lead to my resignation as president of BIO later this year, once a successor is selected. I welcome the opportunity they have offered me to remain affiliated with the organization as president emeritus and to continue contributing to our industry as the new leadership deems appropriate.

"I have had many extraordinary professional adventures during my time in Washington, but none more gratifying than my 11 years as president of BIO. This is a truly remarkable organization with a highly talented and dedicated staff and deeply committed members. I'm proud of my part in building BIO, but I'm even more gratified by the fine professional relationships and friendships the BIO experience has afforded me.

"I want to sincerely thank all those who made my tenure at BIO so satisfying, especially Richard, with whom I've worked for many years, most recently as chairman; the people who first gave me this opportunity and welcomed me into the biotech community; and BIO's past chairs and directors, who made serving our industry such an exciting and productive endeavor. I've been privileged to stand on your shoulders, and I look forward to fully supporting our next generation of leadership.

"Once again, thank you all for your hard-core support and your many courtesies during these years."

"Carl Feldbaum is one of the pioneers of the biotechnology industry," said BIO's Chairman, Richard Pops, CEO of Alkermes, Inc. "Through his leadership of BIO he has had a profound impact on the evolution of this young industry. It is evident in the strong ties we feel and the shared values we advocate. On behalf of the Board of Directors of BIO and the entire membership, congratulations and thank you for your 11 years of remarkable contributions. You leave behind an accomplished organization of talented professionals and a track record of success. We look forward to the next phase of growth for BIO and the biotechnology industry and wish you and Laura all the best.

"A search committee has been formed from members of BIO's Executive Committee. Over the next few months, we will conduct a search for a new leader for BIO. We have very high expectations for Carl's successor, as we look to build on the powerful momentum our Board, BIO's members, Carl and his staff have created," Pops concluded.

BIO represents more than 1,000 biotechnology companies, academic institutions, state biotechnology centers and related organizations in all 50 U.S. states and 33 other nations. BIO members are involved in the research and development of health-care, agricultural, industrial and environmental biotechnology products.