ChondroGene Announces Appointment of Dr. Victor Dzau as Scientific Advisor

TORONTO, CANADA (January 29, 2004): ChondroGene™ Limited (TSX Venture: CDG) announced today that Dr. Victor J. Dzau of the Harvard Medical School has joined the company as a senior Scientific Advisor.

Dr. Dzau is the Hersey Professor of the Theory and Practice of Medicine, at the Harvard Medical School, Chairman of the Department of Medicine, Physician-in-Chief and Director of Research at the Brigham and Women’s Hospital. He was also recently appointed as the Director of Academic Collaborations for Partners HealthCare System.

A leader in cardiovascular translational research, Dr. Dzau has led his laboratory in the study of molecular and genetic mechanisms of cardiovascular disease, and has applied genomic and gene transfer technologies to develop novel therapeutic approaches. Recently he has developed a genetically modified coronary bypass graft that is currently in clinical trial.

In addition to his research activities, Dr. Dzau is active on institutional committees and advisory boards. He is a Founding Member and serves on the Executive Committee of The Academy at Harvard Medical School, and is Chairman of the Executive Committee of the Harvard-Partners Genetics/Genomics Center. Additionally, Dr. Dzau serves on the boards of Partners HealthCare System, Inc., Brigham and Women’s Hospital and the Harvard Clinical Research Institute. He is a member of the Joint Faculty Committee of the Harvard-MIT Division of Health Sciences and Technology, and served on the jury for the Lemelson-MIT Prize for Science and Innovation. Dr. Dzau is also a Director of Genzyme Corporation (NASDAQ:GENZ) and a member of the Scientific Advisory Boards of CV Therapeutics (NASDAQ:CVTX), Atherogenics (NASDAQ:AGIX) and United Therapeutics (NASDAQ:UTHR). He has served as a scientific advisor to Novartis, Merck, Bristol Meyers Squibb and other pharmaceutical companies.

Dr. Dzau has been the recipient of many awards and honours, including the American Heart Association Goldblatt Award for Cardiovascular Research, the William N. Creasy Award in Clinical Pharmacology, Burroughs-Wellcome Fund, the 1992 Distinguished Scientist Award to the American College of Clinical Pharmacology, the 1994 National Institute of Health MERIT Award. In 1998, he received the Commemorative Gold Medal from the Ludwig-Maximillian University of Munich and E.K. Frey-Werle Foundation, and in 1999 he received the Louis and Artur Lucian Award for Research in Circulatory Disease from McGill University. He was awarded the prestigious 2001 Gustav Nylin Medal from the Swedish Royal College of Medicine and the Swedish Cardiology Society, as well as the 2001 Novartis Award for Hypertension Research of the American Heart Association and the 2002 Astra Zeneca Award from the International Society for Hypertension. Most recently, he was honoured by the European Academy of Science and Arts with the Kurt Polzer Prize in Biomedical Science (2003).

Also active in scientific and professional organizations, Dr. Dzau was the Editor-in-Chief of the Journal of Vascular Medicine and Biology and is a founding member of the Society of Vascular Medicine and Biology. He is a member of the Board of Directors of the Association of Professors of Medicine. He has been elected a member of the Institute of Medicine of the National Academy of Science (USA), Academia Sinica (Taiwan), and the European Academy of Science and Arts.

Dr. Dzau received a Bachelor of Science degree (1968) and an MD degree (1972) from McGill University in Montreal and an M.A. (Hon) degree (1996) from Harvard University in Boston.

"We are extremely fortunate to have Dr. Dzau join us as a scientific advisor. His knowledge and expertise, in both the academic and commercial arenas, will be invaluable to ChondroGene," stated Dr. K. Wayne Marshall, CEO of ChondroGene Limited. "Given the depth and breadth of Dr. Dzau’s experience, his appointment is especially timely as ChondroGene expands the development and commercialization of biomarkers beyond arthritis into other disease areas."

Forward-Looking Statements

This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.