LAUREATE PHARMA L.P. AND TOLERRX, INC. ANNOUNCE ANTIBODY MANUFACTURING SERVICES AGREEMENT.

PRINCETON, NJ – August 20, 2002 – Laureate Pharma L.P. and TolerRx, Inc. announce the initiation of a biopharmaceutical manufacturing and services agreement for TolerRx’s therapeutic monoclonal antibody pipeline. Under the contract, Laureate Pharma will provide purification and aseptic filling services to support TolerRx’s clinical trials. Terms of the agreement were not disclosed.

“We believe there is an excellent fit between our expertise in development and manufacturing of biopharmaceuticals and TolerRx’s exciting antibody therapeutics,” said Michiel E. Ultee, Ph.D., Sr. Director of Biopharmaceutical Development and Operations at Laureate Pharma. Robert J. Broeze, Ph.D., President of Laureate Pharma, added, “Laureate Pharma looks forward to a long-term relationship with TolerRx to help TolerRx meet its demand for clinical supply of its novel therapeutic monoclonal antibody products.”

TolerRx has a pipeline of four monoclonal antibody products that are being developed for the induction and maintenance of immunological tolerance and to reprogram the immune system to treat patients with immune-mediated disease. We are pleased and excited to be working with Laureate Pharma in order to meet our product manufacturing requirements,” said Douglas J. Ringler, V.M.D., President and CEO of TolerRx. “Laureate Pharma’s experience and manufacturing infrastructure are important to our overall manufacturing strategy,” said Mark O’Mahony, Manager of Manufacturing at TolerRx.

Laureate Pharma is a privately held contract manufacturing services company with headquarters in Princeton, NJ. The company is dedicated to supporting the development and commercialization of pharmaceutical products for small to large pharmaceutical and biopharmaceutical companies. Laureate Pharma’s biopharmaceutical division, located in Princeton, NJ, provides a wide range of product development services from process design and development to full-scale cGMP production, purification and aseptic filling, as well as corresponding analytical services and regulatory support. The division is focused on two active segments of the biopharmaceutical industry: monoclonal antibodies and recombinant protein products utilizing hollow-fiber and stirred-tank bioreactors for production of biopharmaceutical products expressed by mammalian cells, and state-of-the-art semi-automated chromatography systems for purification of these protein products. Laureate Pharma’s extended release technologies division, located in Totowa, NJ, supplies sustained-release development, formulation and filling services through its cGMP manufacturing facility. For more information on Laureate Pharma, contact the company directly at 1.608.916.3570, by email at support@laureatepharma.com PR Response or visit http://www.laureatepharma.com/.

TolerRx is a biopharmaceutical company specializing in the discovery and development of therapies that induce, maintain, or remove immunological tolerance. The Company’s lead product, TRX1, is a humanized monoclonal antibody that is being developed for autoimmune disease and transplantation, as well as for the induction of tolerance to immunogenic therapeutic proteins. TRX4, the Company’s second product, is a humanized monoclonal antibody that is being developed to treat patients with juvenile diabetes. The Company’s TolerMab™ platform can modify any antibody to become immunologically recognized as “self” while maintaining therapeutic activity for long-term use. TolerRx also has two research and discovery programs to discover new targets involved in the induction of immunological tolerance for the treatment of immune-mediated diseases or in the removal of tolerance for the treatment of cancer or viral diseases. To learn more about the Company, contact the company at 617-354-8100 or visit http://www.tolerrx.com/