Former FDA Commissioner Goyan Invests inPharmQuest.com.

Business Editors, Health & Medical Writers

SAN JOSE, Calif.--(BW HealthWire)--July 6, 2000

PharmQuest.com, the only web site aimed at supporting and rationalizing the $100 billion pharmaceutical development process, said it received an investment from former FDA Commissioner,

Dr. Goyan's background includes successful tenures as UCSF academic and administrator, FDA Commissioner, and biotech senior executive. Dr. Goyan's investment is part of a total $2M which will support the launch of PharmQuest's B2B services exchange, ASP knowledgebases, and certain undisclosed projects. Dr. Goyan is joined in this investment by Storm Ventures (whose partners include Richard Moley, former Director and SVP at Cisco and former Chairman, CEO and President of Stratacom, Tae Hea Nahm, founder of the Venture Law Group, and Sanjay Subhedar, COO of E-Tek and former CFO of Cisco) and individuals including Gary Dillabough, Director of Business Development at eBay, Ajit Gill, CEO of Inhale Therapeutics, Dr. Dinesh Patel, founder and former CEO of Theratech (Watson), Dr. Suhas Patil, founder Cirrus Logic, Cybermedia, navin.com, and Sam Srinivasan, Chairman, CyberPlus and HealthLanguage.com. PharmQuest is currently raising a Series B financing.

About PharmQuest.com

PharmQuest.com is the pioneer in web-based Drug Development Informatics services. While there has been concerted effort to develop sophisticated tools to enhance the drug discovery process, such as Bioinformatics, Genomics, Combinatorial Chemistry and High Throughput Screening, efforts in the drug development area have been minimal. In the past decade, the focus in the drug development industry has been on outsourcing development and manufacturing to contract service providers in order to reduce costs and time to market. The next step in expediting drug development will be the ability to access relevant, decision-oriented information and the use of expert systems to improve the success rate of drugs in development reaching the marketplace. PharmQuest has built a solid team of experts in the Internet and the Pharmaceutical industry to put such systems and services in place.

PharmQuest is an eService provider that empowers Pharmaceutical & Biotechnology companies in identifying, evaluating and selecting technologies and partners, and provides hosted applications (ASP) to streamline the development process. PharmQuest.com launched a destination site for decision makers in the Pharmaceutical industry in April. The site has registered over 1500 service providers, consultants and Biotech-Pharma companies and has regular visitors from over 20 countries around the world.

Further information is available from Phyllis Jones at 408/984-3400 ext. 10 or phyllis@pharmquest.com, and at the company web site, www.pharmquest.com.

PharmQuest and PharmQuest.com are trademarks of PharmQuest.com, Inc.