(BW) (VIMRX-PHARMACEUTICALS)(VMRX) VIMRX Begins Phase II Clinical Studies of VIMRxyn-R -synthetic hypericin- as Topical Phototherapy For Skin Diseases; Studies to be conducted at the University of Pennsylvania

BUSINESS WIRE - 44 Montgomery St, 39th Floor, San Francisco, CA 94104; Tel: (415) 986-4422; FAX: (415) 788-5335 - Thursday, 23 October 1997.

WILMINGTON, De.--(BW HealthWire)--Oct. 23, 1997-- VIMRX Pharmaceuticals Inc. (NASDAQ: VMRX) today announced that it has initiated a Phase II clinical trial to evaluate VIMRxyn(R) (synthetic hypericin) as a topically applied, light-activated therapy for specific skin diseases including psoriasis, cutaneous T-cell lymphoma and warts. The studies will be conducted at the University of Pennsylvania Medical Center, Philadelphia, by Alain Rook, M.D., Professor of Dermatology, to evaluate the efficacy and tolerability of topically applied, photo-activated hypericin in persons affected by the targeted skin diseases.

Earlier this summer, a Phase I study established the dose range and photo-activation conditions required to produce an erythematous response (a reddening effect demonstrating drug photo activation) to topically applied VIMRxyn.

Results published in the May (PhotoChemistry and Photobiology) demonstrated a substantial increase in potency of VIMRxyn(R)(synthetic hypericin) to inhibit growth and reproduction responses of malignant T-cells growing in cell culture when hypericin is photo-activated. The data indicate that photo- activated VIMRxyn causes significant anti-growth effects on malignant lymphoid cells isolated from the blood of people living with cutaneous T-cell lymphoma.

"Laboratory studies have indicated that hypericin, when further activated by artificial light, has enhanced antiviral and anticancer activity and may provide a therapeutic benefit when targeted to certain skin diseases," said David A. Jackson, Ph.D., Vice President and Chief Scientific Officer of VIMRX Pharmaceuticals, Inc. "We will explore this potential in an active Phase II clinical research program targeted to the treatment of psoriasis, cutaneous T-cell lymphoma, warts, and in the near future, Kaposi's sarcoma."

Many of the skin disorders targeted in this Phase II clinical program are painful, chronic and recurring. Cutaneous T-cell lymphoma is an abnormal and potentially life-threatening growth or tumor of lymph tissue associated with the skin. Psoriasis is a scaly skin disorder which afflicts two to five million people in the United States, and is characterized by frequent remissions and recurrences throughout a patient's lifetime. Warts are common skin growths caused by viruses. Kaposi's sarcoma is a relatively rare type of cancer that develops on the skin of some elderly persons or those with a compromised immune system. It is a frequent malignancy of people living with HIV and AIDS.

VIMRxyn(R) is chemically synthesized hypericin, a compound found naturally in plants of the Hypericum family, commonly known as Saint John's wort. In addition to the topical applications, the company is conducting Phase I/II clinical trials to investigate VIMRxyn against HIV, chronic hepatitis C and glioblastoma -- a highly malignant form of brain tumors. The company is also conducting pre-clinical studies on hypericin's potential use for inactivation of viruses in blood to be used for transfusions.

VIMRX Pharmaceuticals Inc., (NASDAQ: VMRX), a biotechnology company based in Wilmington, Delaware, is comprised of a diverse portfolio of companies, technologies and compounds. VIMRX is forming a new cell therapies business with Baxter International. Through its majority-owned affiliate, Innovir Laboratories (NASDAQ: INVR), VIMRX is developing oligozymes which control disease- triggering flaws in individuals' genetic chemistry for potential use as both therapeutic agents and as pharmaceutical research tools to aid in gene function analysis and drug target validation. VIMRX Genomics, Inc. is a collaborative partnership with Columbia University's Genome Center to identify, sequence and commercialize novel genes associated with major unmet medical needs.

In addition to VIMRxyn(R), VIMRX has two compounds in development. VM201, a novel cardiovascular compound for selective inhibition of blood clotting to manage the bleeding risk associated with anti-coagulation, and VM301, a dermatological agent with wound healing potential.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The forward-looking statements contained in this release are subject to certain risks and uncertainties. Actual results could differ materially from current expectations. Among the factors which could affect the Company's actual results and could cause results to differ from those contained in the forward-looking statements contained herein are the success of the Company's clinical trials, delays in receiving FDA or other regulatory approvals and the development of competing therapies and/or technologies by other companies.

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CONTACT: VIMRX Media Contact: Laura A. Mastrangelo 302/998-1734 or The Investor Relations Group Investor Contact: Dian Griesel 212/664-8489

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