AMERICAN BIOGENETIC SCIENCES'S NEUROSCIENCE COMPOUND WILL BE STUDIED IN ALZHEIMER'S MODEL

Study Funded By Institute For The Study Of Aging Will Evaluate ABS-205's Ability To Improve Mental Activity In Aged Animals

Copiague, New York, March 2, 2000 - American Biogenetic Sciences, Inc. (ABS) (OTCBB:MABA) announced that The Institute for the Study of Aging Inc. (the Institute), a non-profit foundation based in New York City dedicated to the improvement in quality of life for the elderly, will fund a study on the ABS-205 neuroscience compound, an agent for treatment of Alzheimer's disease. This drug candidate is in pre-clinical trials and has enormous potential for the treatment of neurodegnerative disorders such as Alzheimer's disease, as well as Parkinson's disease, amyotrophic lateral sclerosis (Lou Gehrig's disease), neuropathic pain, stroke and head trauma.

Prof. Ciaran Regan, Ph.D. D.Sc., Department of Pharmacology, University College Dublin - a collaborator in the ABS Global Scientific Network will conduct the study to determine the effects of ABS-205 in aged animal models using a spatial learning task, a model commonly employed to evaluate novel cognition-enhancing drugs. This is with a view to evaluating the potential of ABS-205 for learning dysfunction associated with aging and Alzheimer's disease. These experiments will build on previous work carried out at University College Dublin, Ireland, in which acute and chronic administration of ABS-205 has been shown to enhance spatial learning.

Howard M. Fillit, M.D., Executive Director of the Institute said, "We recognize ABS-205 as a promising agent for the treatment of cognitive aging and Alzheimer's disease. It is an important part of our mission to encourage the development of novel, potentially important compounds for these indications. We are pleased to help ABS with their drug development efforts."

Commenting on the research, Professor Regan said, "My colleagues and I are excited by the opportunity this grant gives us. We know that ABS-205 crosses the blood brain barrier, in itself an important characteristic, and exerts memory-enhancing effects, most likely by its ability to promote nerve cell growth. It is now crucial to determine if the same molecular mechanisms are augmented by ABS-205 in the aged brain as, given its lack of overt toxicity, this compound could provide a novel therapeutic approach to conditions such as Alzheimer's disease."

Alfred J. Roach, founder and Chairman of ABS, said, "ABS-205 is another promising neurological drug candidate which is being developed within ABS's Global Scientific Network. Our collaborators have assisted in creating a strong flow of innovative technology. Most notably the discovery and development of ABS-103, a single-isomer, next-generation version of valproic acid, for the treatment of epilepsy, manic depression and the prevention of migraine headache. ABS-103 was recently licensed by ABS to Abbott Laboratories (NYSE:ABT) for worldwide development marketing and distribution. Valproic acid presently has annual market sales in excess of $1 billion worldwide."

Alzheimer's disease is a progressive, degenerative brain disorder characterized by memory loss, confusion and profound personality changes. Over four million people in the United States are living with Alzheimer's disease, which is the most common form of dementia. Experts predict that as baby boomers age, Alzheimer's may affect as many as 14 million people nationwide. Alzheimer's is widespread, affecting 10% or more of those over age 65 and nearly half of those over age 85. Slightly more women than men have Alzheimer's disease. Its increasing prevalence has led epidemiologists to call Alzheimer's disease, ïthe disease of the century'.

The Institute for the Study of Aging, Inc., promotes improvement in the quality of life for the elderly primarily through the development and advancement of new therapies and interventions to detect, treat, and prevent cognitive aging and Alzheimer's disease. The Institute engages in a domestic and international grant-making program to academic and industry investigators consistent with its mission. The Institute also works to improve and enhance the care of cognitively impaired elderly through collaborative research projects with foundations, the pharmaceutical and biotechnology industry, managed care companies, health care providers, and community-based organizations. In addition, the Institute initiates, sponsors, and co-sponsors conferences to catalyze and stimulate new ideas and approaches in areas of interest to the Institute, bringing together outstanding physicians, scientists, and policy makers from the United States and from the international community.

American Biogenetic Sciences, Inc. based in Copiague, N.Y., researches and develops diagnostics tests for cardio-pulmonary conditions and infectious diseases, as well as new treatments for neurological disorders including epilepsy, migraine, mania, Parkinson's disease and Alzheimer's disease. ABS also seeks out new technologies and conducts research and development through its Global Scientific Network in the United States, Europe, Israel, Russia and China.

Statements in this release that are not strictly historical are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, and should be considered as subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated. For further details and a discussion of these risks and uncertainties, see the companies' Securities and Exchange Commission filings including their annual report or Form 10-K.