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Sep 15, 2004

ZIOPHARM Forms Board of Directors

ZIOPHARM Forms Board of Directors

NEW HAVEN, CT SEPT 15 - Privately held ZIOPHARM, Inc., a developer of cancer drugs, announced it named eight individuals with diverse backgrounds in medicine, pharmaceutical and biotechnology management, legal and government affairs, and finance and communications to its board of directors under the leadership of Chief Executive Officer Jonathan J. Lewis, MD, PhD.

Including Dr. Lewis, the new board members are:

Richard Bagley, President & Chief Operating Officer, ZIOPHARM, Inc. The former president of Squibb US, Dick Bagley heads ZIOPHARM's business, financial and administrative functions. Mr. Bagley has more than 35 years of experience in the life sciences industry, including CEO stints at three biotech companies. Recently, Bagley has completed six major biotech-partnering transactions and has raised over $350 million from partnering arrangements and public equity offerings. He has been extensively involved with small molecule drugs. Bagley launched Tagamet(R) in the US at SmithKline, positioned Capoten(R) for heart failure and completed the pre-launch of Pravachol(R) at Squibb, and led the funding of Velcade(R) development at ProScript. Bagley also has experience with peptide immunotherapies and monoclonal antibodies, and is a senior advisor to the MD Anderson Cancer Center. Mr. Bagley was a member of the board of the Fox Chase Cancer Center, and a founding director of BIO (the Biotechnology Industry Organization).

Murray Brennan, MD, Chairman of Surgery, Memorial Sloan-Kettering Cancer Center. Dr. Brennan has been chairman of Memorial Sloan-Kettering's Department of Surgery since 1985. He is widely regarded as being one of the best and most famous surgeons in the world. Dr. Brennan has lectured and been visiting professor throughout the world and has authored more than 800 scientific papers. He has served as director of the American Board of Surgery, chairman of the American College of Surgeons Commission on Cancer, president of the Society of Surgical Oncology, and president of the American Surgical Association, the oldest and most prestigious surgical association in the United States. Dr. Brennan is currently vice president of the American College of Surgeons, and a member of the National Academy of Sciences. He is the recipient of numerous honors and medals for his leadership of surgery and oncology worldwide.

James A. Cannon, Chief Financial Officer and Vice Chairman, BBDO.James (Jim) Cannon is vice chairman, chief financial officer and a member of the board of directors of BBDO Worldwide. In this capacity, he oversees the financial management of BBDO operations in 77 countries. Jim joined BBDO in 1967, was promoted to chief financial officer of the agency in 1984, and was elected to its board of directors one year later. An integral member of the team that formed Omnicom via a unique three-agency merger of BBDO, DDB and Needham Harper & Steers, Jim became comptroller of the new group (NYSE: OMC) and a member of its board of directors in 1986, a position he held through 2002. In 1987, he was appointed director of financial operations of the Omnicom Group, serving in this capacity until early 1989 when he rejoined BBDO Worldwide as executive vice president and chief financial officer. His return was concurrent with that of Allen Rosenshine who became chairman and chief executive officer of BBDO after heading Omnicom. Jim was promoted to vice chairman of the agency in 1990. Jim is a graduate of Pace University and served in the US Marine Corps.

Senator Wyche Fowler, Jr., JD, former US Senator and Ambassador to Saudi Arabia. Senator Wyche Fowler, Jr. served for 16 years in the United States Congress. In the US Senate, he served as assistant floor leader, helping mould a bipartisan consensus for major public policy issues. Senator Fowler was a member of the Senate Appropriations, Budget, Energy and Agriculture Committees. First elected to the US House of Representatives, he was a member of the Ways and Means and Foreign Affairs Committees, as well as the Select Committee on Intelligence. President Clinton appointed Senator Fowler US Ambassador to the Kingdom of Saudi Arabia from 1996 through 2001. On his return, the FBI awarded him its highest civilian honor, The Jefferson Cup, for his assistance in combating terrorism and for helping solve terrorism crimes against the US military in Saudi Arabia. He was named Lion of Judah by the State of Israel for successfully freeing Soviet Jew Yakov Gluzman. Senator Fowler is now engaged in an international business and law practice, and also serves as chairman of the board of the Middle East Institute, a non-profit foundation in Washington, DC.

Gary S. Fragin, managing partner of Fragin Asset Management former Director of Trading, Oppenheimer & Co.; former General Partner and Chief Administrative/Operating Officer, Steinhardt Organization. Gary S. Fragin has more than 30 years of experience on Wall Street. He is currently managing partner of Osborn Partners, LP and managing partner of Fragin Asset Management, LP. Mr. Fragin was a partner, director of trading, and member of the Management Committee and Executive Committee at Oppenheimer and Co. Subsequent to that, Mr. Fragin joined the Steinhardt Organization, one of the largest and most successful hedge funds in existence at that time, as a general partner and chief administrative/operating officer. Mr. Fragin holds a BS degree from Vanderbilt University, and an MBA from Columbia University.

Jonathan J. Lewis, MD, PhD, Chief Executive Officer & Executive Chairman, ZIOPHARM, Inc. Dr. Jonathan Lewis has both academic expertise and industry recognition in product development, clinical trials strategy and management, and the direction of patient, support groups and opinion leader advocacy. With over 15 years of experience combined at Yale-New Haven Medical Center, Memorial Sloan-Kettering Cancer Center and Antigenics, Inc., Dr. Lewis has highly regarded leadership skills in translational research and product development, the cornerstones of ZIOPHARM's execution strategy. While at Antigenics he helped to raise over $100 million from investors, and his reputation with Wall Street, MD Anderson Cancer Center, and Memorial Sloan-Kettering Cancer Center led to a $5-million first-round private financing of ZIOPHARM. Dr. Lewis is a surgeon and molecular biologist by training.

David Tanen, JD, General Counsel, BioStar Partners LLC. Mr. Tanen is the general counsel for BioStar Partners LLC. He serves as a member of the board of directors of several publicly traded companies as well as other privately held, development-stage biotechnology companies. Mr. Tanen received his BA degree from George Washington University and his JD degree from Fordham University School of Law.

Michael Weiser, MD, PhD, Director of Research, Paramount Capital Asset Management, Inc. Michael Weiser is the director of research for Paramount Capital Asset Management, Inc. Prior to joining Paramount Capital, Dr. Weiser was in the Department of Obstetrics and Gynecology at New York University Medical Center. Dr. Weiser completed his PhD in Molecular Neurobiology at Cornell University Medical College and received his MD from New York University School of Medicine. Dr. Weiser completed a postdoctoral fellowship in the Department of Physiology and Neuroscience at New York University School of Medicine, and received his BA in Psychology from the University of Vermont.

About ZIOPHARM, Inc.

ZIOPHARM, Inc. is a privately held company founded in January 2004 to develop and commercialize a diverse, risk-sensitive portfolio of in-licensed cancer drugs. All products are focused on addressing unmet medical needs, with the potential for expedited approval and broad usage.

ZIOPHARM's first product, ZIO-101, is expected to enter Phase I human trials in 1Q 2005. The company anticipates licensing of ZIO-201 by 4Q 2004. ZIOPHARM is actively evaluating and negotiating for other product candidates and plans to in-license a third cancer therapy by 2Q 2005. Each product candidate undergoes a tightly managed evaluation process leveraging the company's management team's combined 100+ years of oncology experience in clinical development, regulatory strategy, business development and product commercialization. For more information, please visit www.ziopharm.com