Release issued 21st April 2003

Durham, N.C. - Serenex, Inc. announced today the signing of an joint research agreement that will combine Serenex's Proteome Mining(tm) technology with MolecularNature's Phytochemical compound library. Serenex will provide its proprietary chemoproteomic technologies to screen an array of plant-derived compounds owned by MolecularNature Ltd., a drug discovery company in the United Kingdom.

Serenex and MolecularNature will jointly decide on future drug development projects using high-potential compounds identified through the Serenex screening process. Serenex and MolecularNature will share in intellectual property and revenue opportunities arising from the collaboration.

"MolecularNature has a library of potentially important pharmaceutical compounds," said Richard S. Kent, M.D., Serenex president and CEO. "Serenex technology will help fast-forward the drug discovery process, determining the compounds with the most value and propelling commercial development. Both companies will benefit under this research agreement"

About MolecularNature

MolecularNature Limited (MNL) is a Phytochemical compound discovery company concentrating on discovering novel compounds from temperate plants that have a known therapeutic activity.

MNL was formed in June 1999 as a spin out from the Institute of Grassland and Environmental Research (IGER) in Aberystwyth. MNL has laboratories in Wales and a commercial office in Maidenhead.

MNL has had considerable success in isolating novel compounds from well-studied plants. MNL targets medicinal plants that have well documented therapeutic uses but where the activity of the herb has not been satisfactorily explained. MNL uses its Phytoquest platform to identify and isolate novel compounds of a wide range of classes. MNL has specific technology and expertise in the identification and isolation of water-soluble chemicals and therefore is better placed than other companies to isolate a full range of bio- active components. http://www.molecularnature.com

About Serenex

Serenex Inc., based in Durham, N.C.., was founded in 2000 to improve the quality and efficiency of drug discovery and development through the commercialization of novel chemoproteomics technology that delivers unique compound/target knowledge. Serenex possesses proprietary capabilities to simultaneously profile compounds across thousands of relevant targets, rapidly producing compound/target profiles of unprecedented breadth and creating multiple intellectual property opportunities. Serenex's technology has already demonstrated utility in identifying new targets, preferred chemical scaffolds and opportunities to improve upon existing drugs. The company employs a multi- disciplinary staff with expertise in molecular biology, mass spectroscopy, protein chemistry, medicinal chemistry and informatics. Serenex currently employs 27 people, including 11 with advance scientific degrees.

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