Cyanotech Receives Notice of Allowance for Carpal Tunnel Syndrome Patent

Kailua-Kona, Hawaii (May 1, 2001) — Cyanotech Corporation (Nasdaq NMS: CYAN), the world’s leader in producing high-value, natural products from microalgae, has received Notice of Allowance from the United States Patent and Trademark Office (USPTO) that it will allow Cyanotech’s patent application entitled, “Method For Retarding and Ameliorating Carpal Tunnel Syndrome and Tenosynovitis,” based on the protective properties of BioAstin® natural astaxanthin.

Cyanotech found in preclinical studies that the use of BioAstin natural astaxanthin yielded positive results for the treatment of carpal tunnel syndrome (CTS) and tenonsynovitis. Tenosynovitis is a form of tendonitis specific to the wrist.

Between 7% and 16% of the U.S. population experience CTS and over three million persons per year report symptoms to their doctors believed to be those of CTS. It is also estimated that repetitive motion injuries, such as CTS, cost U.S. industry in excess of $15 billion per year.

The Company has filed four U.S. patent applications for BioAstin based on the protective properties of astaxanthin. Two clinical trials are currently underway: one assessing BioAstin’s effectiveness for reducing delayed onset muscle soreness after strenuous exercise, and the other for relief of carpal tunnel syndrome. A third clinical evaluation is assessing the potential of BioAstin to retard and prevent sunburn by ultraviolet light.

— Cyanotech Corporation, the world’s leader in microalgae technology, produces high-value natural products from microalgae, and is the world’s largest commercial producer of natural astaxanthin (pronounced “asta-zan-thin”) from microalgae. Products include BioAstin® natural astaxanthin, a powerful antioxidant with expanding applications as a human nutraceutical; NatuRose® natural astaxanthin for the aquaculture and animal feed industry; Spirulina Pacifica®, a nutrient-rich dietary supplement; and phycobiliproteins, which are fluorescent pigments used in the immunological diagnostics market. Spirulina Pacifica and BioAstin are sold directly online through www.nutrex-hawaii.com and through resellers worldwide. Corporate and product information is available at www.cyanotech.com

Contacts:
Ronald P. Scott
EVP-Finance & Administration
(808) 326-1353
rscott@cyanotech.com

Bruce Russell
Investor Relations
310-216-1414
brucerussell@ruscom.com