For Immediate Release

CHEMDEX RAISES $30 MILLION IN LATEST FINANCING ROUND

Largest round to date brings total capital raised to $45 million

April 5, 1999

Palo Alto, Calif. -- PR Newswire—Chemdex™ Corporation, the leading provider of electronic commerce solutions for laboratory supply, today announced that it has closed a third round of financing totaling $30 million. The round consists of new investors from the venture capital, financial and biomedical industries as well as previous Chemdex investors and leading life science CEOs.

The lead investor in the round is Galen Partners, the healthcare industry's premier investment firm. Galen Partners invests exclusively in the healthcare industry, and is known for mid-to-later stage investments in service, device, generic drugs and information technology companies.

Other new investors include J&J/H&Q health.net and Genentech, as well as leading financial institutions Goldman Sachs, INVESCO, Amerindo and Bowman Capital. Past Chemdex investors Kleiner Perkins Caufield & Byers, E.M. Warburg Pincus, CMG @Ventures and Bay City Capital also participated in the round.

"The effects of business-to-business e-commerce are being felt in every industry, and Chemdex is the clear market leader in bringing e-commerce to the scientific community," said Dr. L. John Wilkerson, general partner and co-founder of Galen Partners. "Galen's investment experience and breadth of knowledge in healthcare and science, coupled with Chemdex's groundbreaking e-commerce technology, creates a powerful partnership with an outstanding future."

"The support from this A-plus list of investors significantly extends our leadership position in providing the best e-commerce solutions for laboratory supply," said David Perry, president, CEO and co-founder of Chemdex. "We have attracted a world-class group of customers and suppliers who believe in Chemdex, and this new financing gives us the freedom to execute on our vision of improving procurement and supply chain efficiencies industry-wide."

The financial details of the investment were undisclosed.

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