FOR IMMEDIATE RELEASE

AUTOIMMUNE INC. REPORTS 2002 SECOND QUARTER AND YEAR END FINANCIAL RESULTS

Pasadena, California, August 6, 2002 – AutoImmune Inc. (Nasdaq: AIMM) today reported a net loss of $0.18 million, or $0.01 per share basic and diluted, for the three months ended June 30, 2002, compared with a net loss of $0.07 million, or $0.00 per share basic and diluted, for the three months ended June 30, 2001. For the six months ended June 30, 2002, the net loss was $0.39 million, or $0.02 per share basic and diluted, compared with a net loss of $0.19 million, or $0.01 per share basic and diluted, for the six months ended June 30, 2001. These results reflect the continued receipt of monthly payments from BioMS Medical Corporation (“BioMS”) and a reduction in interest income due to a lower average return on investment. As of June 30, 2002, the Company reported $10.4 million in cash and marketable securities.

Robert C. Bishop, Ph.D., Chairman of the Board and Chief Executive Officer stated “AutoImmune continues to conserve financial resources while actively pursuing additional outlicensing opportunities and waiting for results from externally funded clinical trials.”

BioMS has announced it now anticipates starting an advanced phase clinical trial during the first quarter of 2003 on its MBP8298 treatment for chronic progressive multiple sclerosis, which utilizes intellectual property rights exclusively licensed from AutoImmune. Teva Pharmaceutical Industries, Ltd., is conducting additional pre-clinical and clinical pharmacology studies on an oral formulation of COPAXONE® (glatiramer acetate), a product for the treatment of multiple sclerosis, which utilizes intellectual property rights exclusively licensed from AutoImmune. Recruitment for the oral insulin arm of the NIH sponsored diabetes prevention trial (DPT-1), which is testing a therapeutic method covered by AutoImmune’s intellectual property, remains ongoing.

AutoImmune is a biopharmaceutical company involved in the development of a new class of mucosally administered therapies for the treatment of autoimmune and cell-mediated inflammatory diseases and conditions.

This release contains forward-looking statements which involve risks and uncertainties. The Company’s actual results may differ significantly from results discussed in the forward-looking statements due to a number of important factors, including, but not limited to the uncertainties of clinical trial results, the Company’s dependence on third parties for licensing revenue, and the risks of technological change and competition. These factors are more fully discussed in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission in the section “Business-Factors to be Considered.” The discussion in the Annual Report on Form 10-K is hereby referenced into this release.