ImClone Systems promotes Michael P. Bailey to senior vice president, commercial operations

Author: Mendoza College

NEW YORK--(BUSINESS WIRE)--Aug. 2, 2006 - ImClone Systems Incorporated (NASDAQ: IMCL) announced today that Michael P. Bailey, Vice President, Marketing, has been promoted to Senior Vice President, Commercial Operations. In this role, Mr. Bailey will oversee the Company's commercial operations, which are principally responsible for the Company's efforts in the marketing and sale of ERBITUX(R). Mr. Bailey joined ImClone Systems in 1999 and has served as Vice President, Marketing, since 2003. Mr. Bailey replaces Ronald A. Martell, Senior Vice President, Commercial Operations, who has decided to leave the Company to pursue other interests in the industry.

Before joining ImClone Systems in 1999, Mr. Bailey served as a Group Product Manager at Genentech Inc., where he was responsible for the company's efforts in the development of its cardiovascular product portfolio. Prior to Genentech, Mr. Bailey served in a variety of marketing, sales and strategic planning positions at SmithKline Beecham (now GlaxoSmithKline). Mr. Bailey received his B.S. degree with honors from Saint Lawrence University and his M.B.A. degree with honors from the University of Notre Dame Graduate School of Business.

"Michael has been an integral part of the commercial success of ERBITUX, most recently in
its launch in head and neck cancer, and is a natural fit to head our commercial operations," stated Joseph L. Fischer, Interim Chief Executive Officer of ImClone Systems. "We thank Ron for his years of service to the Company and many contributions in building our strong commercial operations group and wish him well in his future endeavors."