The Binding Site Appoints Charles de Rohan as Chief Executive Officer

BIRMINGHAM, England, December 8, 2010 - The Binding Site Corporation Limited ("Binding Site" or "the
Company"), a privately-owned specialist U.K. diagnostics company, today
announces the appointment of Charles de Rohan as Chief Executive Officer.

Charles de Rohan has worked in the diagnostic industry for
more than 17 years and brings significant experience to the Company. He was
previously CEO of London-quoted Genetix Group, a highly profitable and
fast-growing cell imaging and analysis company with revenues exceeding $50m.
By moving Genetix's strategic focus from products to customers, he broadened
its offering through the introduction of new tools and processes and the
identification of complementary acquisitions. In 2009 he successfully
negotiated the takeover of Genetix by Danaher Corporation, where it forms
part of Leica Microsystems.

Prior to joining Genetix, Charles spent 15 years at Abbott
Laboratories' Diagnostic Division, where he held a number of senior
commercial management positions in Europe and Asia Pacific. From November
2003 he was Divisional Vice President in Commercial Operations, managing
various European operations. In December 2006 he established a new role as
Divisional Vice President, Scientific Leadership and Global Accounts EMEA,
where he was responsible for pursuing potential new business models for the
core laboratory business as well as developing and executing a strategy to
differentiate the company's offering through its science.

Charles began his career in 1984 at Ernst and Young, where he
trained as a chartered accountant, working in a number of positions including
forensic accounting, before moving into the management consultancy side of
the business.

Prof. Jo Bradwell, the founder and Chairman of The Binding
Site, said, "Charles brings a wealth of international and operational
expertise and his experience in driving dynamic, high growth businesses will
be invaluable as we meet the challenge of the next phase of our development.
This is an exciting period for The Binding Site as our leading product
Freelite(TM) continues to develop its international footprint and we continue
to work on developing new products and entering new markets."

Charles de Rohan commented, "I am very impressed by the
quality and ambition of the team at The Binding Site and the extraordinary
achievements to date. Early detection is critical for improved treatment and
diagnostics are becoming increasingly important to the pharmaceutical
industry as they develop the next generation of therapeutics. The Binding
Site has a strong and growing portfolio of products and I look forward to
working with the team to further expand the prospects for the business."

About The Binding Site

Binding Site is a UK-based in vitro diagnostics company
committed to the research, development, manufacture and distribution of
immunodiagnostic serum protein assays. With extensive expertise in antibody
specificity technology, Binding Site gives clinicians and laboratory staff
tools to improve diagnosis and management of patients across a range of
B-cell cancers and immune system disorders.

Binding Site market a wide range of products within the
immunoassay sector with their main business being divided into two specific
clinical areas:

B cell dyscrasias: Freelite(TM) is a unique and highly
significant assay used for the diagnosis and monitoring of Multiple Myeloma,
a cancer of cells in the bone marrow. Multiple Myeloma is the second most
common blood cancer after non-Hodgkin's lymphoma. Trials are underway looking
at the use of Freelite in a range of other haematological malignancies,
including applications in renal medicine.

Approximately 3.3 million pairs of Freelite tests are
performed annually worldwide (as of August 2010), which was an increase of
over 20% compared to the previous year.

Binding Site has recently launched (September - December 2010)
a range of assays complementary to Freelite called Hevylite(TM). The
combination of Freelite and Hevylite tests is expected to enable clinicians
to gain valuable information about the type and stage of the disease as well
as the efficacy of different treatment regimes. As well as developing these
assays, Binding Site also markets the benchtop SPAplus Specialist Protein
Analyser, optimised for running Freelite, Hevylite and other specialist serum
protein assays.

Detection of Immunodeficiency: Binding Site is the market
leader in the development of products for the investigation of a range of
disorders involving immunodeficiency, including specialised products for the
diagnosis of primary immunodeficiency diseases (PID). Primary
immunodeficiencies are disorders where part of the immune system is missing
or does not function properly, due to intrinsic or genetic defects in the
immune system. Advances in the understanding and treatment of primary
immunodeficiency diseases mean that individuals who in the past would not
have survived beyond childhood are now able to live nearly normal lives.

For more information please see HTTP://www.bindingsite.co.uk.

    For further information please contact:

    Financial Dynamics

    Jonathan Birt
    jonathan.birt@fd.com
    +44-(0)20-7269-7205

    Stephanie Cuthbert
    Stephanie.cuthbert@fd.com
    +44-(0)20-3077-0458

Financial Dynamics: Jonathan Birt, jonathan.birt at fd.com, +44-(0)20-7269-7205. Stephanie Cuthbert, Stephanie.cuthbert at fd.com, +44-(0)20-3077-0458