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October 23, 2003
HEMISPHERX BIOPHARMA APPOINTS PROFESSOR JAMES J. RAHAL, M.D., WEST NILE VIRUS EXPERT, TO SCIENTIFIC ADVISORY BOARD
Clinical Expertise in New Biodefense and Emerging Infectious Disease Area


Philadelphia, PA, Thursday, October 23, 2003: Hemispherx Biopharma, Inc. (AMEX: HEB) announced today that the appointment of James J. Rahal, to its Scientific Advisory Board. Dr. Rahal is Director of the Infectious Disease Section at the New York Hospital Queens, Professor of Medicine at the Weill Medical College of Cornell University, President of New York Society of Infectious Diseases and an internationally renowned expert in the field of infection control.

First Physician to Conduct Nation – Wide Clinical Test with West Nile Virus

Dr. James Rahal was one of the first physicians to study West Nile virus (WNV) commencing in 1999, when the illness, which is carried by mosquitoes, was first detected in the United States. Dr. Rahal has conducted a nationwide clinical trial for therapy of WNV with interferon alpha-2b, using Shering Plough’s product, Intron A, in an effort to treat hospitalized patients.

Year 2003- Increasing Cases of WNV in the United States

This year, the United States have experienced its worst epidemic of WNV ever. The Centers for Disease Control and Prevention reported that the number of infections this year was nearly double the number for last year at this time. WNV is causing growing numbers of cases and deaths in birds and horses as well as humans. The disease is spread by many species of mosquitoes, which carry the virus from host to host. Most WNV deaths are caused by encephalitis, a severe swelling of the brain, or meningitis, a severe swelling of the membrane surrounding the brain and spinal cord.

Independent Academic Advisory Board Impacts All of Company’s Major Clinical Initiatives

“We believe that the appointment of Dr. Rahal to our Scientific Advisory Board (SAB) will bring our WNV Program to the next level and cusp of commercialization,” said Dr. William A. Carter, CEO of Hemispherx Biopharma. Recent Independent lab research, sponsored by the National Institutes of Health, suggests that Ampligen®, the Company’s investigational therapeutic and Alferon NÒ, a natural-source interferon, may be able to suppress the West Nile virus and may increase the immune response in sick patients, which could minimize major neurologic effects and reduce the death rate. Since only clinical testing under well controlled conditions can determine efficacy and safety in humans, Dr. Rahal is expected to play a crucial role in this endeavor going forward.” Other key academic thought leaders are also joining the Board with expertise in SARS, HIV and CFS. In CFS, the company is completing a pivotal Phase III clinical trial.

About Hemispherx

Hemispherx Biopharma, based in Philadelphia, is a biopharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of viral and immune-based chronic disorders. Its flagship products include Alferon and the experimental immunotherapeutics/antivirals Ampligen and Oragens. These novel proteins, approved for a category of STD infection, and experimental nucleic acids are being developed for globally important chronic viral diseases and disorders of the immune system including HPV, HIV, CFS and Hepatitis. Its platform technology includes large and small agent components for potential treatment of various chronic viral infections. Hemispherx has approximately 400 patents comprising its core intellectual property estate, a fully commercialized product (Alferon N) and GMP certified manufacturing facilities for its novel pharma products. The Company plans global clinical trials in the SARS disease arena where it has a proprietary position and the disease represents a major threat to human welfare. For more information please visit www.hemispherx.net.


Contact:
Hemispherx Biopharma, Inc.,
Dianne Will, Investor Relations
(518) 398-6222, Fax: (518) 398-6369

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(TM)) 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 Alferon® do not imply that the product will ever be specifically approved commercially for these other treatment indications including SARS. The Alferon® asset for overseas sales for a category of STD is currently being acquired by the Company as part of a multi-step purchase contract of inventory, intellectual property, commercial licenses and GMP approved facilities, which house the biological operations