PharmAthene Appoints Jordan P. Karp, J.D. Senior Vice President and General Counsel

Thursday, July 10, 2008 General News
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ANNAPOLIS, Md., July 10 PharmAthene, Inc.(Amex: PIP) a biodefense company specializing in the development andcommercialization of medical countermeasures against chemical and biologicalthreats, announced today that Jordan P. Karp, J.D., has been appointed SeniorVice President & General Counsel, overseeing all legal and human resourcesmatters for PharmAthene.

Mr. Karp joins PharmAthene with over 17 years of legal experience in avariety of areas, including SEC compliance, corporate governance, mergers andacquisitions, government and commercial contracting, and intellectualproperty.

Prior to joining the Company, Mr. Karp was employed by ConstellationEnergy Group, Inc., a diversified Fortune 125 energy company, from 2001 to2007. From October 2002 to November 2007, Mr. Karp served as Vice President &General Counsel for one of Constellation Energy's primary operating divisions,Constellation NewEnergy, Inc., a leading retail marketer of electricity andnatural gas. Mr. Karp established and managed the legal function forConstellation NewEnergy during a period of rapid growth, in which annualrevenues for Constellation's retail energy marketing segment increased from$2.6 billion in 2003 to $9.1 billion in 2007.

Before his tenure at Constellation, Mr. Karp held in-house legal positionsof increasing responsibility at MCI Communications Corp., GuilfordPharmaceuticals Inc., and Mentor Technologies Group, Inc., where Mr. Karpserved as Vice President, General Counsel & Corporate Secretary. Following aone year judicial clerkship on the U.S. Third Circuit Court of Appeals, Mr.Karp started his legal career as an associate attorney with the internationallaw firm, Hogan & Hartson LLP, focusing on corporate and securities matters.

Mr. Karp holds a B.A. in Natural Sciences from The Johns HopkinsUniversity and a J.D. from Yale Law School.

"Jordan brings a strong background in biopharmaceuticals in addition tovery specialized experience working with dynamic, growth-oriented companies,"said David P. Wright, President and Chief Executive Officer. "These qualitiesare ideally suited to our mission at PharmAthene, and will help us to advanceour goal of becoming the leading provider of biodefense therapeutics andprophylactic products for biological and chemical terrorism with futureexpansion into broader markets."

About PharmAthene, Inc.

PharmAthene (Amex: PIP) was formed to meet the critical needs of theUnited States and its allies by developing and commercializing medicalcountermeasures against biological and chemical weapons. PharmAthene's leadproduct development programs include (1) Valortim(TM) for the prevention andtreatment of anthrax infection, (2) Protexia(R) for the prevention andtreatment of morbidity and mortality associated with exposure to chemicalnerve agents, (3) a second generation recombinant protective antigen (rPA)anthrax vaccine, (4) RypVax(TM) - a recombinant dual antigen vaccine forplague, and (5) a third generation rPA anthrax vaccine. For more informationabout PharmAthene, please visit www.PharmAthene.com.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussedmay constitute forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995 that are subject to certain risks anduncertainties that could cause actual results to differ materially from anyfuture results, performance or achievements expressed or implied by suchstatements. Statements that are not historical facts, including statementspreceded by, followed by, or that include the words "potential"; "believe";"anticipate"; "intend"; "plan"; "expect"; "estimate"; "could"; "may";"should"; or similar statements are forward-looking statements. PharmAthenedisclaims, however, any intent or obligation to update these forward-lookingstatements. Risks and un


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