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| |  Endostatin, Newly Discovered Angiogenic Inhibitor Licensed ROCKVILLE, Md.—Dec. 5, 1996 -- EntreMed, Inc. (NASDAQ:ENMD), announced today that it licensed the worldwide rights to the newly discovered angiogenesis inhibitor, Endostatin(TM), from Children's Hospital, a teaching affiliate of the Harvard Medical School in Boston, MA. EntreMed acquired these rights through an exclusive sponsored research agreement with Children's Hospital that supports the angiogenesis research of Dr. Judah Folkman and his team of scientists. Endostatin(TM) is a natural antiangiogenic protein that has been shown to inhibit the growth of blood vessels, thereby starving cancerous tumors. In preclinical studies, the repeated administration of Endostatin(TM) consistently shrank primary tumors and, unlike traditional chemotherapy, showed no drug resistance over time. Antiangiogenic drugs have the potential to treat cancer as well as a variety of other angiogenic diseases such as blindness and arthritis that depend on new blood vessel growth. EntreMed previously licensed exclusive worldwide rights to Angiostatin(TM), another natural antiangiogenic molecule discovered at Children's Hospital (Cell, Volume 79, pp. 315-328, October 21, 1994). At a recent Massachusetts Institute of Technology cancer research conference sponsored by the Whitehead Institute for Biomedical Research, Dr. Folkman announced that the combination of Endostatin(TM) and Angiostatin(TM), when used in preclinical studies to treat solid tumors for which there is no effective chemotherapy, prevented the reoccurrence of the tumors even months after cessation of the combined treatment. These findings from Drs. Michael O'Reilly and Judah Folkman, along with their research team, were recently cited in The Boston Globe (October 23, 1996), The Economist (November 16, 1996), and U.S. News & World Report (December 9, 1996). Currently, the Endostatin(TM) protein is being cloned and expressed by EntreMed in order to manufacture quantities required to extend preclinical research. Dr. Folkman, a pioneer and leader in the field of angiogenesis research for more than twenty-five years, publicly stated recently: "This is the kind of experiment I've been waiting for my whole life. We are extremely excited about the discovery of this combined drug therapy and its potential for treating a broad range of diseases." EntreMed Chairman, President and Chief Executive Officer Dr. John W. Holaday discussed this potential approach to cancer treatment: "We believe that antiangiogenic therapies represent a new paradigm in cancer treatment that are not expected to produce the severe, toxic side effects, limited efficacy, and drug resistance often seen with traditional chemotherapy. Our research partners, Dr. Folkman and his team at Children's Hospital, are working with EntreMed to continue to set new standards in antiangiogenic research and development. With the licensing of Endostatin(TM), we are extending our significant efforts to accelerate the availability of angiogenesis products for the treatment of cancer, blindness, and other diseases that depend on new blood vessel growth." Rockville, Maryland-based EntreMed, Inc., an innovative biopharmaceutical company, develops products that address the role of blood and blood vessels in health and disease. The Company is a leader in the field of antiangiogenesis research, which involves the inhibition of abnormal blood vessel growth believed to be associated with a broad range of diseases. The Company's strategy is to accelerate development of its current core technologies, angiogenesis and cell permeation. EntreMed also seeks to identify and acquire new technologies through sponsored research programs with university medical facilities, research companies, and government laboratories. EntreMed anticipates commercialization of its products through strategic partnerships with major pharmaceutical companies. In December 1995, EntreMed forged a strategic partnership with Bristol-Myers Squibb Company (NYSE: BMY) to further the preclinical and clinical development of Angiostatin(TM) and Thalidomide. Pursuant to this agreement, Bristol-Myers Squibb has the right to sub-license certain antiangiogenesis products developed by EntreMed. Statements herein that are not descriptions of historical facts are forward-looking and subject to risk and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in the Company's Securities and Exchange Commission filings under "Risk Factors," including risks relating to the early stage of products under development, uncertainties relating to clinical trials' dependence on third parties' future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
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