Elan Corporation PLC And EntreMed, Inc. Execute License Agreement For Proprietary NanoCrystal(R) Technology

DUBLIN, Ireland & ROCKVILLE, Md.--(BUSINESS WIRE)--Jan. 10, 2006--Elan Corporation, plc (NYSE: ELN) and EntreMed, Inc. (NASDAQ: ENMD) today announced that they have entered into a License Agreement in which EntreMed has been granted rights to utilize Elan's proprietary NanoCrystal Technology to develop the oncology product candidate, Panzem(R) NCD (2ME2 or 2-methoxyestradiol). Under the terms of the License Agreement, Elan is eligible to receive payments upon the achievement of certain clinical, manufacturing, and regulatory milestones. Additionally, Elan will receive royalty payments based on sales of Panzem(R) NCD.

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