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May 27, 2004

NUCRYST Pharmaceuticals announces Scientific Advisory Board

Wakefield, MA, USA -- -  

For immediate release

Wakefield, Massachusetts – May 27, 2004 – NUCRYST Pharmaceuticals announced today the creation of a Scientific Advisory Board to provide advice on scientific, clinical and regulatory matters for its nanocrystalline technology products. NUCRYST’s patented nanocrystalline technology can be delivered in a variety of formulations to address a host of potential therapeutic uses for diseases involving inflammation and/or infection.

The Scientific Advisory Board represents a distinguished and accomplished group of individuals with expertise encompassing disciplines appropriate to current and future interests of NUCRYST.

The Advisory Board members are: Allen J. Bard, Ph.D., Robert H. Demling, M.D., Byron D. McLees, M.D., Ph.D., Paul M. Newberne, D.V.M., Ph.D., Robert S. Stern, M.D. and Michael Weintraub, M.D. A synopsis of their qualifications and experience is attached as an appendix.

The company is now developing a topical formulation of NPI 32101, its proprietary silver Rx nanocrystals, and is in Phase II human trials for the treatment of atopic dermatitis, a form of eczema. Laboratory studies of NUCRYST’s silver nanocrystals have demonstrated anti-inflammatory and antimicrobial properties with the possibility to treat a variety of conditions.

“At our laboratories in Wakefield, Massachusetts, our scientific team has begun pre-clinical research on the appropriateness of other therapeutic opportunities, including other topical formulations for skin delivery of our nanocrystalline silver, as well as additional formulations such as sprays, inhalers, nebulizers, rinses, drops, tablets and even injectables,” said Scott H. Gillis, President of NUCRYST.


“Our Scientific Advisory Board consists of a diverse and highly respected group with a range of scientific and medical expertise and experience in drug development,” said Gillis. “We are privileged to have each of these individuals associated with NUCRYST. They will not only be reviewing our progress, but will be available to us on an ongoing basis to share their experience and offer guidance as we move further down the drug approval path.”

The Scientific Advisory Board will meet periodically with NUCRYST’s management and staff.


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About NUCRYST Pharmaceuticals
NUCRYST Pharmaceuticals Corp. (www.nucryst.com) is a wholly owned division of The Westaim Corporation. NUCRYST researches and develops pharmaceutical products based on its noble metal nanocrystalline technology and was one of the first companies to successfully commercialize a medical product based on nanotechnology. In 2003, the company’s SILCRYST wound care division contributed CDN$8 million in profit to help offset the costs associated with developing pharmaceutical products to treat diseases involving infection and/or inflammation.

In addition to NUCRYST, The Westaim Corporation’s technology investments include iFire Technology, which has developed a revolutionary low-cost flat panel display. Westaim's common shares are listed on Nasdaq under the symbol WEDX and on The Toronto Stock Exchange under the trading symbol WED.



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For more information contact:
Lisa Lupynec
Investor Relations
The Westaim Corporation
(416) 504-8464
info@westaim.com
www.westaim.com

This news release may contain forward-looking statements. These statements are based on current expectations that are subject to risks and uncertainties, and the Company can give no assurance that these expectations are correct. Various factors could cause actual results to differ materially from those projected in such statements, including the risk factors set forth in our Form 40-F as filed with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligations to revise forward-looking statements whether as a result of new information, future developments or otherwise. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement.

NUCRYST Pharmaceuticals’ Scientific Advisory Board Members

Allen J. Bard, Ph.D.
• Hackerman-Welch Regents Chair in Chemistry
• Department of Chemistry and Biochemistry
• The University of Texas at Austin
• Member, National Academy of Science
• Formerly, Editor-in-chief, Journal of the American Chemical Society
• Formerly, President, International Union of Pure and Applied Chemistry

Robert H. Demling, M.D.
• Professor of Surgery; Harvard Medical School, Boston
• Director, Intensive Care Unit; Director, Burn Center; Surgeon, Brigham and Women’s Hospital, Boston
• Past President, American Burn Association

Byron D. McLees, M.D., Ph.D.
• Formerly, Chief Medical Officer, ClinTrials Research, Inc.
• Formerly, President, MPI Development
• Formerly, Vice President Worldwide Clinical Development and Medical Affairs, Proctor and Gamble Pharmaceuticals
• Formerly, Chief Medical Officer, The Upjohn Company
• Formerly, Professor of Medicine and Director of Pulmonary/Critical Care Medicine, Bowman Gray School of Medicine

Paul M. Newberne, D.V.M., Ph.D.
• Professor of Pathology Emeritus, Boston University School of Medicine
• Professor of Nutritional Pathology Emeritus, Massachusetts Institute of Technology
• Formerly, President, American College of Veterinary Pathologists
• Formerly, Scientific Advisory Board, FDA Center for Toxicological Research (NCTR)
• Formerly, Chairman, FDA Expert Panel, Evaluation of Flavor, Extract and Food Additive for Generally Regarded as Safe, (GRAS) status

Robert S. Stern, M.D.
• Professor of Dermatology, Harvard Medical School
• Chairman, Department of Dermatology, Beth Israel Deaconess Medical Center, Boston
• Chairman, Dermatologic Drugs Advisory Committee, US Food and Drug Administration
• Co-editor, Archives of Dermatology

Michael Weintraub, M.D.
• Senior Scientist, The Lash Group
• Formerly, Head, Clinical Pharmacology, University of Rochester Medical School, New York
• Formerly, Director, Office of Drug Evaluation 5 (OTC Drugs, Dermatologic/Dental Drugs, Analgesics, Anti-inflammatory and Ophthalmologic Drugs), US Food and Drug Administration
• Editor-in-chief, Current Therapeutics Research

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