Research Agreement

Proteome Sciences PLC
28 February 2002


                                 PRESS RELEASE

                                                             28th February, 2002

   Proteome Sciences applies Proteomics expertise in the area of Stroke in a
         Collaboration with ReNeuron to Identify Brain Repair Proteins

Proteome Sciences plc ('Proteome Sciences'), the AIM listed proteomics and
modification of gene expression company, announces that it has entered into a
collaborative research agreement with ReNeuron Holdings plc ('ReNeuron') to
identify proteins expressed in brain repair in response to stroke as possible
therapeutic entities or drug targets relevant for the treatment of stroke and
other neurodegenerative diseases.

Proteome Sciences has already successfully applied its proteomics research
platform to search for a reliable diagnostic marker for stroke. Using high
sensitivity protein separation, Proteome Sciences has identified markers in
blood for the diagnosis of stroke and which can also differentiate between
stroke and heart attack. The research is currently focused on the
differentiation between ischaemic and haemorragic stroke. Discussions are
actively in progress with strategic licensing partners for commercialisation.

The collaboration with ReNeuron will extend Proteome Sciences' programme in
stroke to address further drug targets and potential therapeutic entities. The
companies will jointly own intellectual property arising from the collaboration
and share any resulting revenues from its commercialisation.

Stroke is the third leading cause of death in the USA. The total annual cost is
$30bn with 160,000 deaths and approximately 750,000 Americans having new or
recurrent strokes.

Mr. Christopher Pearce, Chief Executive of Proteome Sciences said :

'We are very pleased to be working with ReNeuron in a focused collaboration
targeting stroke, where we can combine our different technical capabilities.

This will extend our mandate in stroke and is entirely complementary to the
diagnostic markers we have discovered in blood.

Proteome Sciences will apply high sensitivity proteomics to body fluid and
tissue samples provided by ReNeuron. This will involve the production of
proprietary protein maps to address differential protein expression in brain
repair and facilitate the identification and characterisation of proteins as
potential drug targets and for therapeutic treatment'.

Dr. Martin Edwards, Chief Executive Officer of ReNeuron commented :

'This collaboration is an important part of ReNeuron's ongoing efforts to use
neural stem cells as drug discovery tools. With Proteome Sciences, we hope to
discover the proteins involved in recovery from stroke. Putting together our
expertise in stem cell transplantation and Proteome Science's expertise in
proteomics is a logical way for both companies to make progress in this
specialist field'.


                                    - Ends -

For further information please contact:

Proteome Sciences plc                Tel : [phone]

Christopher Pearce, Chief Executive  E-Mail : [e-mail]

www.proteome.co.uk

Public Relations for Proteome Sciences

Ikon Associates

Adrian Shaw                          Tel : [phone]

                                     Mobile : + 44(0) 797 9900733

                                     E-Mail : [e-mail]

ReNeuron Holdings plc

Dr Martin Edwards, Chief Executive   Tel: [phone]

Notes to Editors


        1.     Proteome Sciences plc applies high sensitivity proteomics to
        identify and characterise differential protein expression in diseases
        for diagnostic, prognostic and therapeutic applications. It has to date
        developed sensitive blood assays for stroke, nvCJD, BSE and solid organ
        transplantation.

        The main focus of its research currently addresses neurological,
        neurodegenerative, diabetes/obesity, oncology and cardiovascular
        conditions. Commercialisation of these programmes will be effected
        through strategic partnerships.

        Proteome Sciences is also the largest shareholder in Intronn Inc., the
        US Company that has developed SMaRTTM, a technology able to modify gene
        expression at the mRNA level.

        2.     ReNeuron Holdings plc is a UK bio-pharmaceutical company
        developing proprietary treatments for neurological disorders. Its focus
        is developing innovative neural stem -cell technology that has the
        potential to treat brain diseases including stroke, Alzheimer's disease
        and Parkinson's disease. The Company is also exploring the use of stem
        cells as a drug discovery platform.

        In addition to its stem cell programmes, ReNeuron is developing a unique
        class of compounds, the Neurins. Phase II trials in neuropathic pain and
        inflammatory arthritis commenced in 2001 in the UK and Ireland for its
        lead compound, ReN 1869. ReNeuron is also developing Nerve Growth Factor
        soluble receptors for painful inflammatory states.



                      This information is provided by RNS
            The company news service from the London Stock Exchange