FOR IMMEDIATE RELEASE

VACCINEX CEO TO PRESENT AT BIO 2003 ANNUAL CONVENTION

Rochester, N.Y. June 13, 2003 Vaccinex, Inc. announced today that Maurice Zauderer, Ph.D., President and CEO of Vaccinex will be a featured presenter at the Biotechnology Industry Organization's 2003 Annual Convention to be held in Washington, D.C. from June 22nd to 25th. Dr. Zauderer will make two presentations at the convention. Based on his experience as an immunologist and cancer researcher, Dr. Zauderer has been selected as a panel speaker in a session entitled "Cytotoxic T-Cell Vaccines: The Other Half of the Immune System," which is scheduled for 10:30 a.m. on Tuesday, June 24, 2003. In addition, Dr. Zauderer will present an update on Vaccinex's business and technical progress to industry participants, venture capitalists and other attendees at this year's BIO Business Forum, scheduled for 4:30 p.m. on June 24th.

"Vaccinex has had an exciting 2003 as we have made impressive technical progress in both our antibody discovery technology as well as our product development activities," commented Dr. Zauderer. "We are particularly excited about the promise of our antibody discovery technology as it offers the potential to directly select high affinity, fully human antibodies that would be difficult or impossible to identify with other systems. In addition, Vaccinex's C35 antigen continues to demonstrate promise as a highly valuable target to be used in the development of an immunotherapeutic product against breast cancer. We are working on the development of our own C35-based antibody therapeutic product and seeking to license C35-derived peptides to cancer vaccine companies."

Vaccinex is a privately held biotechnology company engaged in the discovery and development of novel therapeutic antibodies. Therapeutic antibodies have become one of the largest and fastest growing sectors of biotechnology, currently representing approximately 20% of all drugs in the biotechnology pipeline. Vaccinex's antibody discovery platform is one of the only library-based antibody technologies that can directly express complete, fully human antibodies in mammalian cells. The company is commercializing this technology by offering antibody discovery services to clients worldwide and is developing its own proprietary therapeutic products, initially focused on cancer. The firm is headquartered in Rochester, New York and currently has over 30 employees. For additional information, please visit the company's website at www.vaccinex.com.


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