San Diego, CA, June 25, 2002 — Structural Bioinformatics, Inc. (SBI) announced today that Ruth F. Nutt, Ph.D., formerly of Merck & Co. and Corvas International, has joined the company as Acting Head of Drug Discovery and a member of SBI’s Scientific Advisory Board. Dr. Nutt’s responsibilities will include the day to day oversight of SBI’s expanding drug discovery efforts, and will report directly to David D. Muth, President and COO.

“Dr. Nutt follows David Muth’s arrival last November, as SBI builds its big pharma experience base in propelling its drug discovery efforts,” said Dr. Edward T. Maggio, SBI’s Chairman and CEO. “Dr. Nutt brings to SBI an impressive scientific record, having spent 31 years in research at Merck before moving to biotech in 1993,” added Dr. Maggio. “Additionally, Dr. Nutt has participated in the entire Drug Discovery process, as several of the compounds discovered in her labs have been successfully commercialized.”

“SBI is a progressive drug discovery company with a pipeline that has been built upon cutting edge computational proteomics," said Dr. Nutt. "I am pleased to be joining the SBI team at this exciting time.”

Dr. Nutt joined Merck in 1962, serving in various research positions of increasing responsibilities at the Rahway, New Jersey and West Point, Pennsylvania sites. Dr. Nutt joined Corvas International, Inc., in 1993 to direct the medicinal and analytical chemistry discovery research efforts for novel oral antithrombotic agents. She has seen five drug candidates through clinical development, is an author of more than 130 publications and holds more than 30 patents. Dr. Nutt is a member of the American Chemical Society, and has served as an officer of the American Peptide Society. She received a Bachelor of Science degree in Chemistry in 1962 from the University of New Mexico in Albuquerque, and a doctorate in Organic Chemistry in 1981 from the University of Pennsylvania in Philadelphia.

About Structural Bioinformatics, Inc.

Structural Bioinformatics, Inc. (SBI) is a world leader in proteomics-driven drug discovery – the large-scale generation and use of protein structural information to accelerate the drug discovery and optimization processes. SBI’s Genes to Leads® technology offers a practical response to the flood of new drug targets emerging from genomic sequencing efforts for the human genome and the genomes of hundreds of infectious disease agents. SBI’s technology reliably produces drug leads – in 60-120 days – starting with the drug target sequence alone, with an efficiency that is more than 1,000-fold greater than state-of-the-art high-throughput screening. SBI’s proprietary computational proteomics platform produces major benefits in pharmaceutical development, speeding drug discovery, reducing costs and increasing the probability of success.

SBI’s drug discovery pipeline is focused on therapeutics for diabetes, cancer, and inflammatory and infectious diseases. SBI further leverages its technologies to create a growing revenue stream through its StructureBank™ 3-D protein structure database management system, and its structural content products – ProMax™ – a comprehensive drug target database, and Variome™ – individual drug target-specific structural pharmacogenomics database modules.

SBI has partnerships with a number of technology leaders in their respective industry segments, including Johnson & Johnson, Boehringer Ingelheim, Janssen Pharmaceutica, De Novo Pharmaceuticals, DuPont Pharmaceuticals, InCyte Genomics, Inc. and Arqule. SBI’s partners include IBM and Quest Diagnostics – both of whom are part of the company’s premier international investor base.

SBI is headquartered in San Diego CA, with offices in Cambridge MA, Washington DC and Hørsholm, Denmark. More information may be found on SBI’s web site at http://www.strubix.com/.