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March 24, 2003
Former High Ranking VP At Squibb Dr. Knill Has Long Track Record Of Successful Completion Of Trials For Large Volume Drugs

Philadelphia, PA, Monday, March 24, 2003: Hemispherx Biopharma, Inc. (AMEX: HEB) announced today that it has appointed James R. Knill, M.D. to the position of Vice President of Clinical Development for its HIV/AIDS Division. Dr. Knill will oversee clinical research and medical affairs for the Company’s two ongoing Phase IIb Clinical Trials, the AMP 719 for the treatment of HIV as a salvage therapy and the AMP 720 for the treatment of HIV as an S.T.I. (Strategic Treatment Interruption).

In announcing the appointment Dr. William A. Carter, President and CEO stated “Dr. Knill brings over 30 years of experience managing successful clinical development programs in therapeutics and biologics, during which he has worked with CBER (Center for Biological Evaluation and Research) and CDER (Center for Drug Evaluation and Research) at the FDA, including the Divisions of Oncology, Cardiorenolgy, Gastrointestinology, Medical Imaging and Radiopharmaceuticolgy, Reproductivity and Anti-infective and Anti-viral Products.” In his career, Dr. Knill has been successful in guiding clinical trials into commercial approval, such mega drugs as Capoten and Pravachol, both multibillion dollar revenue drugs.

Dr. Knill most recently served as VP of Medical Affairs at Interferon Sciences, where he was responsible for Phase III trials of ALFERON N Injection in HIV and Hepatitis C, as well as a pilot program in patients co-infected with these two viruses. Dr. Knill previously served as VP of Medical Affairs in Cytogen Corporation, Consultant in Medical Affairs at Bristol-Myers Squibb Research Institute, Sr. VP Science Strategy and Planning at Squibb Corporation, Sr. VP of Medical Affairs at Squibb Corporation and Director Clinical Pharmacology at ER Squibb & Sons.

Dr. Knill completed his residency in Internal Medicine at the University of Western Ontario, London, Ontario and Fellowship in Gastrointerology at Tufts University School of Medicine in Boston, MA, after receiving his M.D. and his MSc in Physiology. Dr. Knill also received an MBA at the Wharton School, University of Pennsylvania, Philadelphia, PA.

Hemispherx Biopharma, Inc., Investor Relations
(215) 988-1712, Fax: (215) 988-1554

Dianne Will, Investor Relations
(518) 398-6222, Fax: (518) 398-6223

Robert Giordano, MRB Investor Relations
(212) 495-0200, Fax: (212) 495-0746

HEB's Web Site: www.hemispherx.net

Information contained in this news release other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risk of competition, changing market conditions, change in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. Any specifically referenced investigational drugs and associated technologies of the company (including Ampligen and Oragens) 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 judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. Clinical trials for other potential indications of the approved biologic AlferonÒ do not imply that the product will be specifically approved commercially for these other treatment indications.