.

  FOR IMMEDIATE RELEASE
Contact:  

Robert F. Apple, Chief Operating Officer
InKine Pharmaceutical Company, Inc.
215-283-6850

Donald C. Weinberger
Wolfe Axelrod Weinberger Assoc. LLC
212-370-4500, 212-370-4505 fax
[email protected]


INKINE ANNOUNCES THE ADDITION OF
WILLIAM HARRAL III TO ITS BOARD OF DIRECTORS

 

BLUE BELL, PA  July 14, 2004 -- InKine Pharmaceutical Company, Inc. (Nasdaq: INKP)   today announced the election of William Harral III to its Board of Directors.

Throughout Mr. Harral’s thirty-six year career in the telecommunications industry, he held many senior management positions in various capacities. Most recently, Mr. Harral retired from Bell Atlantic Pennsylvania, Inc. (now Verizon Corporation) as President and Chief Executive Officer. Since leaving Bell Atlantic, Mr. Harral has worked as Senior Counselor at the Tierney Group, a strategic communications and advertising firm and is currently Chairman of the Board of Directors of C&D Technologies, Inc., an electronics and industrial battery manufacturer. He is President of the Barra Foundation and serves on the Board of Directors of Bryn Mawr Trust Company and Recording for the Blind and Dyslexic. Mr. Harral has also served as the Executive-in-Residence and Interim Dean at Drexel University’s Bennett S. LeBow College of Business and serves on the Dean’s Advisory council at Drexel University’s College of Information Science and Technology.

“We are pleased to have someone with Mr. Harral’s broad business experience and corporate governance expertise join our Board of Directors,” said Leonard S. Jacob, M.D., Ph.D., Chairman and CEO of InKine. “Mr. Harral’s depth of knowledge and tremendous experience will greatly benefit our company and complement the skill sets of our existing board members,” added Dr. Jacob.

About InKine Pharmaceutical
InKine Pharmaceutical Company, Inc. is a publicly traded specialty pharmaceutical company focused on developing and commercializing pharmaceutical products for the diagnosis and treatment of gastrointestinal disorders. The Company's development strategy is to acquire late-stage drug candidates with short time lines to commercialization. The Company's franchise product, Visicol® is the only tablet purgative preparation indicated for bowel cleansing prior to colonoscopy. InKine's second product, IB-Stat®, is an oral hyoscyamine spray for the treatment of a variety of indications. The Company is also promoting VSL#3®, a probiotic that is effective in treating certain gastrointestinal disorders. Additionally, the Company is developing INKP-102, an advanced generation purgative, which is in Phase II clinical trials for bowel cleansing prior to colonoscopy and Colirest™, which is in clinical trials for the treatment of Crohn's disease. For further information, please visit InKine on its web site http://www.inkine.com.

In addition to historical facts or statement of current condition, this press release and other statements made from time to time by representatives of the Company contain or may contain forward-looking statements. Forward-looking statements provide InKine's current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings projections, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning. InKine's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties such as those set forth in its reports on Form 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, InKine does not intend (and it is not obligated) to update publicly any forward-looking statements. This discussion is permitted by the Private Securities Litigation Reform Act of 1995.