May 23, 2003

News Release: Receives Key U.S. Patents Covering ATH Antithrombotic Technology

GlycoDesign Inc. (TSX:GD), a leading Canadian biopharmaceutical company, announced today that the United States Patent and Trademark Office has issued two patents covering the company's ATH technology. ATH, a covalent complex between a super-active form of heparin (H) and antithrombin (AT), is a novel, potent antithrombotic.

U.S. patent No. 6,562,781 issued May 13, 2003 includes claims to ATH per se, a process for preparing ATH and a pharmaceutical preparation comprising ATH while U.S. patent No. 6,491,965 issued December 10, 2002 covers ATH for use in medical or prosthetic devices, and medical or prosthetic devices comprising ATH. 'The issuance of these U.S. patents for ATH further strengthens GlycoDesign's competitive position in the field of thrombosis'said Mr. Michael H. Thomas, President and Chief Executive Officer of GlycoDesign Inc.

GlycoDesign is currently developing ATH in preclinical studies as a therapeutic for the prevention of neurocognitive deficits during cardiopulmonary bypass surgery. The Company plans to partner with device companies to develop ATH as an antithrombotic coating on catheters used for dialysis as well as other indwelling medical devices where thrombosis is a serious clinical problem.

About GlycoDesign

GlycoDesign is a drug discovery and development company focused on developing proprietary drugs for the treatment or prevention of cardiovascular, and chronic inflammatory diseases as well as cancer. The Company's most advanced products are two novel antithrombotics: GH9001, which is completing Phase I human clinical trials and ATH which is in preclinical development. The Company is also developing inhibitors of the enzyme Core 2 for the treatment of chronic inflammation along with novel glycotherapeutics for the treatment of cancer.

GlycoDesign announced on April 9th, 2003 that it had entered into a definitive agreement with Inflazyme Pharmaceuticals Ltd. whereby Inflazyme Pharmaceuticals Ltd. will acquire GlycoDesign. It is expected that the new larger Company will build on its existing drug development capabilities and be better positioned to advance the scientific programs, especially in the field of inflammation.

Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of rapid technological and market change; the successful and timely completion of clinical studies; the establishment of corporate alliances; new product development; uncertainties related to the regulatory approval process; stock market volatility; and the ability of GlycoDesign Inc. to recruit and retain qualified employees. For additional information with respect to certain of these and other factors, see the reports filed by GlycoDesign Inc. with the Ontario Securities Commission. GlycoDesign Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information: please contact: Patricia Griffin, Vice President, Business Development, GlycoDesign Inc., (416) 593-6027 ext. 239, pgriffin(at)glycodesign.com

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