Hemispherx Biopharma Press Release for
Wednesday, February 27, 2002

Philadelphia, PA, Wednesday, February 27, 2002: Hemispherx Biopharma, Incorporated (AMEX:HEB) announced today that new clinical data on its lead investigational immunotherapeutic drug candidate, Ampligen®, will be presented on March 18th, 2002, at the upcoming peer-reviewed 15th International Conference on Antiviral Research, Prague, Czech Republic.

The expanded presentation of ``interim data'' (data from ongoing clinical studies) was reviewed and recommended to be presented by a Medical and Scientific Advisory Committee to Hemispherx, which convened on February 21-24, 2002. The blue-ribbon committee consisted of leading researchers throughout the US and Europe.

The FDA-Authorized ongoing phase II b Ampligen® clinical trials involve HIV/AIDS patients who either, a) have recently failed available therapies, or b) are at risk of relapse even though they are receiving the optimal care (called ``HAART''). The clinical trials, designated AMP-719 and 720 respectively, and which were initiated in 2001, focus on levels of viral suppression, immunological changes (versus a control group receiving only ``HAART'') and relative tolerance of the experimental medication after long-term administration.

The presentation, scheduled for March 18th, 2002, will be made by Professor William Mitchell, M.D., Ph.D., and internationally recognized researcher in AIDS who holds professorship in Pathology at Vanderbilt University School of Medicine, Nashville, TN. He is also a member of the board of Directors of Hemispherx. Dr. Mitchell received his M.D. degree from Vanderbilt University and his Ph.D. from Johns Hopkins University, Baltimore, MD.

About Hemispherx Biopharma, Inc.

Hemispherx Biopharma, Inc., Philadelphia, PA, has devoted nearly three decades of exploring, understanding, and mastering the mechanism of ribonucleic acid (RNA) drug technology. The Company's longevity as a biomedical research and drug development institution, coupled with its record of enduring scientific achievement, is evidence of long-term commitment to these promising new classes of drugs for the chronically ill and to bring new therapeutic choices to the global health care community. For more information, please visit the Company's website at http://www.hemispherx.net.

Contact(s):

William A. Carter, M.D., CEO & Chairman, Hemispherx Biopharma, Inc. (215) 988-0080
Dianne Will, Investor Relations, (518) 398-6222, Fax: (518) 398-6223
Robert Giordano, Institutional Investors, MRB, (212) 230-1727, Fax: (212) 230-1734
HEB's Web Site: www.hemispherx.net

Information contained in this news release other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risks of competition, changing market conditions, changes in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. In addition, the company cannot with absolute certainty predict the outcome of current or future legal matters for which it is a party to. Accordingly, actual results including financial results may differ materially from those in any forward-looking statements. Additionally, all the referenced investigational drugs and associated technologies of the company are experimental in nature and as such are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. The forward-looking statements represent the Company's judgement as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.