Medinox Appoints David Duncan, Jr. as Vice President of Finance and Chief Financial Officer

San Diego, California (December 1, 2000) Medinox, Inc. announced today the appointment of David Duncan, Jr. as the company's Vice President of Finance and Chief Financial Officer. As CFO, Mr. Duncan's responsibilities will include developing and executing Medinox's financial strategy and overseeing the company's control and finance functions including accounting, financial analysis, budgeting, and management reporting.

Mr. Duncan has 27 years of experience as a financial executive in the biotech and high tech industries.

Before coming to Medinox, Mr. Duncan was Vice President and Chief Financial Officer of Tanox, Inc. where he successfully managed its $244 million initial public offering.

Prior to Tanox, Mr. Duncan was Vice President, Finance and Administration and Chief Financial Officer at Neuromedical Systems, Inc. where he raised $115 million in private and public equity. Mr. Duncan was also Vice President, Finance and Chief Financial Officer at Telios Pharmaceuticals, where he successfully completed three public offerings, including the company's IPO, for a total of $64 million in equity financing.

Mr. Duncan holds a B.S. degree in Finance and an M.B.A. degree from Indiana University.

According to Monte Lai, Ph.D., Medinox's President & CEO, "We welcome Dave as a valuable addition to Medinox's management team. His track record of fundraising will be instrumental in securing the financing needed to transition Medinox from an R&D organization to a focused and growing pharmaceutical company."

"Medinox is truly a promising small molecule pharmaceutical company," noted David Duncan. "Their innovative technologies have tremendous potential to address major therapeutic markets and improve the quality of life for millions of people. I really look forward to being a member of Medinox's management team that will direct the future success of the company."

About Medinox, Inc. Medinox, Inc. is a privately-held, San Diego-based emerging pharmaceutical company that is developing novel small molecule therapeutics of large revenue potential and major scope. The company is presently focused on developing novel therapeutics from three core pharmaceutical technologies: Nitric oxide blockers, NSAID prodrugs, and MX-1520, a new therapeutic for sickle cell anemia.

For information on Medinox, please visit the company's website at www.medinox.com.