Aphton Announces Appointment of Patrick Mooney, M.D. as Chairman of th

    Business Editors/Biotech Writers

    PHILADELPHIA--(BUSINESS WIRE)--March 1, 2005--The Board of Directors of Aphton Corporation (Nasdaq:APHT) today announced the appointment of Patrick Mooney, M.D. as Chairman of the Board. Dr. Mooney, who has been Chief Executive Officer of the company since January 2004, will replace Philip Gevas as Chairman effective immediately. Mr. Gevas will remain on the Board as a Director and Chairman Emeritus. William Hasler will also be stepping down from his position of Vice-Chairman, and will remain on the Board as a Director.
    "We recognize and are appreciative of the contributions and commitment that Phil and Bill have provided to Aphton and are thankful for their years of service," commented Dr. Patrick Mooney, Chairman and CEO of Aphton Corporation. "We certainly face challenges ahead; however, we have a vision for Aphton going forward that includes executing a program that not only expands the pipeline through our pending acquisition of Igeneon but progresses our current and future strategy with our lead product Insegia(TM). Our strategic plan includes the evaluation of all of the company programs with the intent of streamlining activities and improving cost efficiencies going forward."
    "As Co-founder of Aphton I have endeavored to build a company that would have the fundamentals to grow into a successful biotechnology business. We are pleased with the progress that has been made and know that the company is in very capable hands with Pat," commented Phil Gevas. "I look forward to continuing to work with Pat and the other members of the Board and to the future successes of Aphton."
    Dr. Mooney brings to Aphton significant experience in all aspects of the business of biotechnology. Prior to his appointment as Chairman and CEO, Dr. Mooney served as Chief Medical Officer of the company from April 2003 to January 2004. Prior to his joining Aphton, Dr. Mooney was Vice President and Senior Biotechnology Analyst at Thomas Weisel Partners, LLC. Dr. Mooney graduated medical school from The Jefferson Medical College of Thomas Jefferson University. He went on to perform his surgical training at Thomas Jefferson University Hospital.

    Strategic Pipeline

    Aphton continues to focus its efforts on broadening and progressing its research and development pipeline. An important element of this strategy is its pending acquisition of Igeneon, a biopharmaceutical company with a diverse pipeline of late-stage products including active and passive immunotherapies. Aphton believes that immunotherapies may have certain advantages over other targeted therapies by including specificity that may lead to better efficacy and decreased toxicities for patients.

    About Aphton

    Aphton Corporation, headquartered in Philadelphia, Pennsylvania is a clinical stage biopharmaceutical company focused on developing targeted immunotherapies for cancer and other diseases. The Company's products seek to neutralize hormones involved in the growth and proliferation of cancers as well as other diseases. The company's lead product, Insegia(TM) (G17DT immunogen) is currently in development both as a monotherapy and in combination with chemotherapy for the treatment of pancreatic, gastric, colorectal and gastro-esophageal cancers. Aphton has strategic alliances with sanofi-aventis for the development and commercialization of Insegia related to cancers of the gastrointestinal system and other cancers in North America and Europe; Glaxo-SmithKline for Insegia in the treatment of reproductive system cancer and non-cancer diseases worldwide; Daiichi Pure Chemicals for the development, manufacturing and commercialization of gastrin-related diagnostic kits; and Xoma for treating gastrointestinal and other gastrin-sensitive cancers using anti-gastrin monoclonal and other antibodies. For more information about Aphton or its programs please visit our website at http://www.Aphton.com.

    Safe Harbor

    This press release includes forward-looking statements, including statements about: (1) Aphton's strategy of expanding its product portfolio, (2) Aphton's intent to evaluate all of the company programs with the intent of streamlining activities and improving cost efficiencies, (3) the completion of the potential acquisition of Igeneon by Aphton; (4) Aphton's belief that immunotherapies have certain advantages over targeted therapies and (5) Aphton's intent to expand its research and development pipeline. These forward-looking statements may be affected by the risks and uncertainties inherent in the drug development process and in Aphton's and Igeneon's business. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in Aphton's Securities and Exchange Commission filings, including Aphton's report on Form 10-K filed with the Commission on March 15, 2004. Aphton wish to caution readers that certain important factors may have affected and could in the future affect Aphton's beliefs and expectations and could cause the actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of Aphton. These risk factors include, but are not limited to, (1) Aphton's ability to realize anticipated cost efficiencies and to streamline activities, (2) Aphton's inability to receive the required approval from its stockholders to complete the Igeneon transaction;(3) Aphton's ability to fund the further development of its research and development, (4) Aphton's ability to successfully identify and consummate opportunities to broaden and progress its research and development pipeline, (5) scientific developments regarding immunotherapies and target therapies and (6) Aphton's ability to consummate the pending acquisition of Igeneon, the inability to successfully integrate Igeneon's operations and product portfolio with Aphton's operations and product portfolio; and (7) the actual design, results and timing of preclinical and clinical studies for both companies' products and product candidates.

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CONTACT: Aphton, Philadelphia Jeannette Whitmore, 305-374-7338 aphton@aphton.com or Nick Porras, 215-218-4340 ir@aphton.com or Investor and Media Relations: TS Communications Group, LLC Tara Spiess, 914-921-5900 info@biotechirpr.com

KEYWORD: PENNSYLVANIA INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL BIOTECHNOLOGY MANAGEMENT CHANGES SOURCE: Aphton Corporation

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