EXHIBIT 99.1


[LOGO]IMMTECH


CONTACT: F. C. Thompson: 877-898-8038

            T. STEPHEN THOMPSON, PRESIDENT AND BOARD MEMBER, RETIRES

Vernon Hills, IL, May 3, 2006 -- Immtech Pharmaceuticals, Inc. (AMEX: IMM)
announced today the retirement of T. Stephen Thompson, President and member of
its Board of Directors, effective May 1, 2006. Mr. Thompson has led Immtech's
management for the past 15 years through many important developments including
the licensing of the pharmaceutical dication platform technology in 1998.

Mr. Thompson will remain a consultant to the Company, continuing to assist
Immtech in strategic business and scientific development. Eric L. Sorkin, who is
Immtech's Chairman and Chief Executive Officer, will assume the role of
President.

"After fifteen exciting years with Immtech, managing the Company through its
critical growth, it is time for the new management team to move the Company
forward. Immtech is progressing toward the filing of its first New Drug
Application. Mr. Sorkin has contributed to the Company's growth as a member of
the Board of Directors and more recently as its Chief Executive Officer. He is
focused on the commercialization of Immtech's drug candidates and I will
continue to champion Immtech's efforts in a supportive, consulting role," stated
Mr. Thompson.

Mr. Sorkin said "We thank Mr. Thompson for his many years of service and
dedication to the Company. With his continued support and the diligence of the
Company's talented and energized management team, we are aggressively driving
Immtech toward commercial success."

About Immtech Pharmaceuticals

Immtech Pharmaceuticals, Inc. is focused on developing and commercializing drugs
to treat infectious diseases, and the Company is expanding targeted markets by
applying its proprietary pharmaceutical platform to treat other disorders.
Immtech has advanced clinical programs that include new treatments for malaria,
Pneumocystis pneumonia and African sleeping sickness (Trypanosomiasis) and drug
development programs for tuberculosis and fungal infections. The Company has
worldwide licensing and exclusive commercialization rights to a large library of
well-defined compounds from which a pipeline of therapeutic products could be
developed. For additional information, please go to
http://www.immtechpharma.com.

"Safe Harbor" Statement under the Private Securities Reform Act of 1995:
Statements in this press release regarding Immtech Pharmaceuticals, Inc.'s
business which are not historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such risks and
uncertainties that could cause actual results to differ from those contained in
the forward-looking statements, see "Risk Factors" in the Company's Annual
Report on Form 10-K for the most recently ended fiscal year.