Creative BioMolecules, Inc. Appoints Carl M. Cohen, PhD, to a New Position of Vice President, Research

Hopkinton, MA, November 14, 1997--Creative BioMolecules, Inc. (Nasdaq: CBMI) announced today the appointment of Carl M. Cohen, PhD, to the newly created position of Vice President, Research. In this role, Dr. Cohen will work closely with Dr. Charles Cohen, the company's Founder and Chief Scientific Officer, to direct the company's research into new therapies based on the activity of morphogenic proteins.

Dr. Carl M. Cohen joins Creative from St. Elizabeth’s Medical Center in Boston where he held various leadership positions from 1978-1997. Most recently, he held the positions of Acting Chairman of the Department of Biomedical Research, Chief of the Division of Cellular and Molecular Biology and the Associate Chairman of the Department of Biomedical Research. In addition to his position with St. Elizabeth’s, he is a Professor in the Department of Medicine and the Department of Anatomy and Cellular Biology at Tufts University School of Medicine and is Treasurer and Member of the Executive Committee of the American Society for Cell Biology. Dr. Cohen has a BA (Physics) from Boston University as well as an MA (Physics) and a PhD (Biophysics Research) from Harvard University.

Michael M. Tarnow, President and Chief Executive Officer of Creative BioMolecules, commented regarding the appointment, "I am pleased to welcome Dr. Carl Cohen to Creative BioMolecules. With a lead product approaching commercialization, we are encouraged to expand our research focus to take advantage of the broad potential of morphogenic proteins. Working closely with our founder and Chief Scientific Officer, Dr. Charles Cohen, Carl will fill a critical post in leading our research organization in this effort."

The statements in this news release that are not historical facts include forward-looking statements that involve risks and uncertainties. Factors which could cause actual results to differ from the Company’s expectations include, without limitation, the achievement of product development milestones by the Company, the impact of competitive products, the timely receipt of regulatory clearances required for clinical testing, manufacturing and marketing of products and the other risks and uncertainties detailed from time to time in the Company’s periodic reports.

Creative BioMolecules is a discovery and development company focused on proprietary protein-based therapeutics for human tissue regeneration and restoration. The Company’s therapeutics are based on proteins that act as signals in initiating and regulating the cellular events involved in cell and tissue formation.

NOTE: Creative BioMolecules, Inc. makes available its latest news releases on the Internet at http://www.prnewswire.com or by facsimile by calling Fax On Demand at 1-800-758-5804, extension 212213.

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For additional information on this news release, please contact the Company.


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