Healthcare Industry News:  ImClone Systems 

Biopharmaceuticals Personnel

 News Release - May 16, 2006

ImClone Systems Names Elizabeth Yamashita Vice President, Regulatory CMC and Operations

NEW YORK--(HSMN NewsFeed)--May 16, 2006--ImClone Systems Incorporated (NASDAQ: IMCL ) announced today that it has named Elizabeth Yamashita Vice President, Regulatory CMC and Operations. As head of the Regulatory Affairs Chemistry/Manufacturing/Controls (CMC) and Operations groups, Ms. Yamashita will direct all CMC discussions with regulatory agencies and will ensure timely and accurate regulatory guidance and input to all project teams concerning CMC activities and dossier publishing and formatting matters. Ms. Yamashita will report directly to Cheryl Anderson, Vice President, Regulatory Affairs.

Prior to joining the Company, Ms. Yamashita spent more than 20 years at Bristol-Myers Squibb Company in various positions, most recently serving as Group Director, Global Regulatory Sciences-CMC. Ms. Yamashita received her B.S. degree in chemistry from the University of Rochester.

The Company has made an inducement stock option grant to Ms. Yamashita for the right to purchase 51,000 shares of the Company's common stock. These stock options will vest over a four year period, and have an exercise price equal to the closing price of ImClone Systems' common stock on May 15, 2006. The stock options were granted under the ImClone Systems 2005 Inducement Stock Option Plan, as approved by the Compensation Committee of ImClone Systems' Board of Directors. This stock option grant meets the "employee inducement" exception to NASDAQ Marketplace Rule 4350 requiring shareholder approval of equity-based incentive plans.

About ImClone Systems Incorporated

ImClone Systems Incorporated is committed to advancing oncology care by developing and commercializing a portfolio of targeted biologic treatments designed to address the medical needs of patients with a variety of cancers. The Company's research and development programs include growth factor blockers and angiogenesis inhibitors. ImClone Systems' strategy is to become a fully integrated biopharmaceutical company, taking its development programs from the research stage to the market. ImClone Systems' headquarters and research operations are located in New York City, with additional administration and manufacturing facilities in Branchburg, New Jersey.

Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the company's ability to control or predict. Important factors that may cause actual results to differ materially and could impact the company and the statements contained in this news release can be found in the company's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K. For forward-looking statements in this news release, the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Source: ImClone Systems

Issuer of this News Release is solely responsible for its content.
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