TargetRx Announces $15 Million in Funding Led By Quaker BioVentures

Pharmaceutical Marketing Information Company Continues Momentum

Horsham, PA - April 22, 2005 - TargetRx , a marketing information services company that assists pharmaceutical companies in effectively selling and marketing their products, announced today that it raised $15 million (U.S.) in Series D funding. This round of financing was led by Quaker BioVentures, with additional investments from new investors Montagu Newhall and Wasatch Advisors, and investments from all previous venture capital investors including New Enterprise Associates (NEA), Domain Associates, and Acacia Venture Partners. The capital will be used to accelerate the Company's growth by expanding its product offerings, which are based on the Company's unique and powerful large-sample normative database of physician attitudes. This will enable TargetRx to enhance its proven ability to deliver actionable solutions to pharmaceutical companies to help them make accurate and timely marketing and sales decisions, ultimately improving the performance of their brands.

This round of funding is the latest momentum indicator from TargetRx, which has enjoyed significant growth since its inception and has achieved greater than 90% renewal of subscriptions with clients so far in 2005. TargetRx expects 2005 revenue commitments to exceed full year 2004 revenue by the second quarter of this year.

We're pleased that additional leading investment companies have decided to join our outstanding group of current investors, said Michael Luby, President and CEO of TargetRx.Our Company's goal is to provide pharmaceutical companies with the diagnostic and predictive information that they need to improve sales and marketing effectiveness in this highly competitive and dynamic market.Our clients and investors see the value in our unique database approach to tracking physician attitudes and translating the findings into highly actionable information to support sales and marketing execution. With this additional funding, we're poised to continue our rapid growth.

TargetRx has zeroed in on the sweet spot for pharmaceutical companies with the way it delivers marketing information services, said Richard Kollender, Principal at Quaker BioVentures. Given the current climate of the pharmaceutical market, Quaker strategically decided to invest in TargetRx, as the Company provides pharmaceutical companies with an unrivaled breadth and depth of insights to help drive sales and marketing and also accurately predict future sales performance.

We are enthusiastic to continue to invest in TargetRx because we're excited with the progress the Company has made since our initial seed investment in 2000, said John Nehra, General Partner of New Enterprise Associates. TargetRx brings critical value to the pharmaceutical industry, as evidenced by its track record of working with the majority of the top thirty pharmaceutical companies.

TargetRx continues to strengthen its leadership team with two additions to its Board of Directors. Richard Kollender joins the Board from the lead investment firm of Quaker BioVentures. He brings valuable pharmaceutical industry insight to the board, having previously worked at GlaxoSmithKline (NYSE: GSK), where he held positions in sales, marketing and worldwide business development. Jim Lim joins the Board from Montagu Newhall Associates, a $200 million venture capital firm that invests in both funds and companies, where he is a Partner. Previously, Mr. Lim was a Director at Commonfund Capital, a fund-of-funds firm that manages nearly $5.5 billion in capital, and prior to that he spent three years as a Pension Fund Manager for Pfizer (NYSE: PFE).

About TargetRx

TargetRx provides pharmaceutical and biotech companies with unique insight into the true drivers of product choice and adoption for their brands, helping clients to confidently take the actions that will grow their businesses and help patients. Serving the majority of the top 30 pharmaceutical and biotech companies, TargetRx enables clients to significantly improve the launch of new products and indications, physician segmentation and targeting, creation of professional messaging and materials, and sales and marketing execution and effectiveness. All TargetRx solutions are powered by our AdvantageBuilderSM normative database and validated predictive models, created from capturing in-depth physician attitudes on the "four forces" of prescribing - product, payor, promotion and patient - on new launches, marketing campaigns and physician-rep interactions on over 500 pipeline and inline brands and modeling these attitudes against actual prescribing behavior. For more information, visit www.targetrx.com.

Media Contact:

Joe Ford
Phone: 215-444-8722
jford@targetrx.com