Press Release January 23, 2003

ProQinase receives "Freiburg Innovation Award 2002" for its Integrated Technology Platform Protein Kinases & Substrates.

The "Freiburg Innovation Award" is given biannually to companies of the region that feature innovative technologies and products that make them leaders in their respective fields. The jury, consisting of members from science, politics and finance, reviewed 47 applications and selected three companies for their innovative technologies. ProQinase is the only biotech company receiving this year's award.

ProQinase was founded in 2001 by the Tumor Biology Center, Freiburg, and developed its Integrated Technology Platform Protein Kinases for drug discovery and development in oncology. ProQinase uses its platform for the development of novel, second generation protein kinase inhibitors to combat cancer and, at the same time, has evolved as one of the leading providers of recombinant protein kinases and screening services for pharmaceutical and biotech industry, worldwide.

The Managing Directors Dr. Christoph Schächtele (left picture, left) and Dipl.-Kfm. Arno Fritzen (left picture, right) received the Award during the official ceremony on January 23, 2003.