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Corgentech Appoints Thomas J. Colligan to Board of Directors

SOUTH SAN FRANCISCO, Calif., Jun 29, 2004 /PRNewswire-FirstCall via COMTEX/ -- Corgentech Inc. (Nasdaq: CGTK), a biotechnology company, announced today that Thomas J. Colligan, retired vice chairman of PricewaterhouseCoopers, has been appointed to the Company's board of directors effective July 1, 2004.

"We are fortunate to have an individual of the caliber of Tom Colligan, who brings over 35 years of financial, managerial and global experience to Corgentech," said John P. McLaughlin, Corgentech's president and chief executive officer. "His financial expertise and leadership to major corporations as well as his role managing one of the largest accounting firms will make him an invaluable addition as we grow Corgentech."

In addition, the Company announced that Fritz R. Buhler, M.D. has resigned from the board of directors. "We also want to take this opportunity to thank Fritz Buhler for his support of the company and excellent service to the board over the last few years," noted McLaughlin.

Colligan has had a distinguished professional career at PricewaterhouseCoopers LLP, serving as a Vice Chairman from 2001 to 2004. His 35 years of broad-based experience encompasses a number of industries including pharmaceutical, technology, telecommunications and consumer products. He developed the current market strategy for PricewaterhouseCoopers subsequent to the merger of Price Waterhouse and Coopers & Lybrand Early in his career with Price Waterhouse, he was the managing partner of the Philadelphia office (the founding office of the firm) and the Pennsylvania region including, Harrisburg, Pittsburgh and Valley Forge. He continues to be a licensed CPA in New York, New Jersey and Pennsylvania, and is a member of these State Societies of CPAs and the American Institute of CPAs. Colligan remains active in numerous community service activities, and he is a member of the Board of Advisors of the Silberman College of Business at Fairleigh Dickinson University.

About Corgentech

Corgentech is a biopharmaceutical company engaged in the discovery, development and commercialization of a new class of therapeutics called transcription factor decoys, or TF decoys. We are creating a pipeline of novel therapeutics based on our proprietary TF decoy technology, focused initially on the treatment of cardiovascular disease, inflammatory disease, such as arthritis and dermatitis, and cancer. For more information on the company and its technology, visit www.corgentech.com.

Forward-Looking Statements

This press release contains forward-looking statements, including without limitation all statements related to our clinical trials, product candidates and collaboration with Bristol-Myers Squibb. Words such as "believes," "anticipates," "plans," "expects," "intend," "will," "slated," "goal" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon our current expectations. Forward-looking statements involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the progress, timing and results of our clinical trials, intellectual property matters, difficulties or delays in obtaining regulatory approval, manufacturing our lead product candidate, competition from other pharmaceutical or biotechnology companies, our ability to obtain additional financing to support our operations and other risks detailed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2003 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2004. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Corgentech undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

SOURCE Corgentech Inc.

Richard Powers of Corgentech Inc., +1-650-624-9600, or
[email protected]; or Daryl Messinger of WeissCom Partners,
+1-415-999-2361, or [email protected], for Corgentech Inc.

http://www.corgentech.com

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