EXHIBIT 99.1

                                                           FOR IMMEDIATE RELEASE

[PHARMOS CORPORATION LOGO]
99 Wood Avenue South, Suite 311
Iselin, NJ 08830
www.pharmoscorp.com

Contact

Pharmos U.S. - Gale Smith                          Aline Schimmel (investors)
732-452-9556                                       Justin Jackson (media)
Pharmos Israel - Irit Kopelov                      Burns McClellan, Inc.
972-8-940-9679                                     212-213-0006

              Pharmos Corporation Appoints Chief Financial Officer

Iselin NJ, July 19, 2004 - Pharmos Corporation (Nasdaq: PARS) today announced
the appointment of James A. Meer to the position of Vice President, Chief
Financial Officer, Secretary and Treasurer. Mr. Meer will direct and oversee
worldwide financial management and accounting activities of the Company.

Haim Aviv, Ph.D., Chairman and CEO, said, "We welcome Jim and the breadth and
strength of his experience in both the financial and operating areas as the
Company moves from a research based firm to product commercialization. In
filling this critical position, we expect him to make a significant contribution
to the overall success of Pharmos as we move through the business growth cycle."

Mr. Meer has over 30 years of financial experience in both privately and
publicly held companies, of which twelve years were in the life sciences
industry. Prior to joining Pharmos, Mr. Meer was a consultant to specialty
pharmaceutical and biotech firms providing strategic and financial advice.
Previously, Mr. Meer served eight years as Vice President and Treasurer of
Schein Pharmaceutical, Inc. where he was responsible for capital formation,
including a successful IPO, strategic planning and investor relations. His other
experience includes senior financial positions with public companies including
EnviroSource, Inc., John Labatt Ltd. and General Host Corporation. Mr. Meer
holds an MBA degree from Pace University and a BA degree in Economics from
Rutgers College.

Pharmos discovers, develops, and commercializes novel therapeutics to treat a
range of indications, in particular neurological and inflammation- based
disorders. The Company's first neuroprotective product is dexanabinol, a
tricyclic dextrocannabinoid, currently undergoing clinical testing as a
treatment for TBI and as a preventive agent against post-surgical cognitive
impairment. Other dextrocannabinoid compounds and CB2-selective receptor agonist
compounds from Pharmos' proprietary synthetic cannabinoid library are being
studied in pre-clinical programs targeting stroke, pain, multiple sclerosis and
other disorders.

Statements made in this press release related to the business outlook and future
financial performance of the Company, to the prospective market penetration of
its drug products, to the development and commercialization of the Company's
pipeline products and to the Company's expectations in connection with any
future event, condition, performance or other matter, are forward-looking and
are made pursuant to the safe harbor provisions of the Securities Litigation
Reform Act of 1995. Such statements involve risks and uncertainties which may
cause results to differ materially from those set forth in these statements.
Additional economic, competitive, governmental, technological, marketing and
other factors identified in Pharmos' filings with the Securities and Exchange
Commission could affect such results.

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