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June 05, 2002
Hemispherx Biopharma Europe S.A. Completes Agreement With Laboratorios Del Dr. Esteve S.A.
Cash Infusion, Distribution, and Clinical Trials Provided in Accord

Philadelphia, PA, Wednesday, June 05, 2002: Hemispherx Biopharma, Inc. (AMEX: HEB), a leading company in the experimental-stage development of immune based therapies primarily addressing the diseases of HIV/AIDS and Chronic Fatigue Syndrome, announced today that its wholly owned subsidiary, Hemispherx Biopharma Europe S.A., has completed an agreement with a wholly owned subsidiary of Laboratorios Del Dr. Esteve S.A., Barcelona Spain.

The agreement includes the investment by Esteve of a substantial amount of convertible securities in Hemispherx Europe on the basis of an evaluation of the Hemispherx Biopharma, Inc. subsidiary of approximately 100 Million Euros. The initial payment, in excess of 1 million Euros, has been received. Further benchmark payments are provided for in the agreement. The relationship between both companies will enable them to collaborate in certain areas in regards to exclusive sale and distribution as well as initiation and conducting of specific clinical trials.

Dr. William Carter, Chairman and CEO of Hemispherx Biopharma Inc, stated "with Esteve's extensive clinical trial, marketing and distribution expertise, we are extremely excited about successfully establishing this relationship, and we look forward to a long a prosperous future between our companies."

Hemispherx Biopharma, Inc.

Hemispherx Biopharma, Inc., Philadelphia, PA, is a biopharmaceutical company that focuses on the innovative development of ribonucleic acid (RNA) drug technologies intended to enhance the natural anti-viral defense system of the human body, representing a potential new class of pharmaceutical products. Its primary product, Ampligen, is in two phase IIb clinical trials for HIV/AIDS, one Salvage Therapy and one Strategic Treatment Intervention (STI), and a phase III clinical trial for Chronic Fatigue Syndrome (CFS). For more information, please visit the Company's website at http://www.hemispherx.net. The Company's experimental programs have not been deemed "safe and effective" by regulatory agencies and thus are presently available only through approved clinical trails being conducted at certain geographic locations with approved physicians.

Laboratorios Del Dr. Esteve S.A.

Laboratorios Del Dr. Esteve S.A., Barcelona, Spain is one of the largest privately owned pharmaceutical companies in Southern Europe. With a turnover of 561 million Euros in 2001, distribution of its products to over 80 markets worldwide, patents granted in more then 40 countries and with over 2000 employees, Esteve has been able to establish itself as one of the premier pharmaceutical companies in Europe.

William A. Carter, M.D., CEO & Chairman, Hemispherx Biopharma, Inc.
(215) 988-0080
Dianne Will, Investor Relations, (518) 398-6222, Fax: (518) 398-6223
Robert Giordano, Institutional Investors, MRB, (212) 230-1727, Fax: (212) 230-1734
HEB's Web Site: www.hemispherx.net

Information contained in this news release other than historical information, should all be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risks of competition, changing market conditions, change in laws and regulations effecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. Accordingly, all the referenced investigational drugs and associated technologies of the company are experimental in nature and as such are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. The forward-looking statements represent the Company's judgement as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.