EntreMed, Inc. And Affymax, Inc. Present Preclinical Data For Novel Angiogenesis Inhibitors

ROCKVILLE, Md., Dec. 13 /PRNewswire-FirstCall/ -- EntreMed, Inc. , a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, and Affymax, Inc., a leader in the discovery and development of novel peptide drugs, today announced the presentation of preclinical data on novel peptides developed from a collaboration based on initial findings that a fragment of tissue factor pathway inhibitor demonstrated antiangiogenic activity in preclinical models and that this activity was modulated through the VLDL receptor. The data were presented during an oral presentation at the American Society for Hematology Annual Meeting, being held this week in Atlanta, Georgia.

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In preclinical studies, EntreMed and Affymax have successfully discovered novel synthetic peptides that exhibited improved antiangiogenic activity and very low density lipoprotein (VLDL) receptor binding in vitro. These peptides were assessed in vivo in the Matrigel plug angiogenesis model, and one of these peptides inhibited angiogenesis by ~75% at 2 mg/ml. These data demonstrate that structure-function studies have yielded novel synthetic peptides with significantly better antiangiogenic activity in preclinical models than a peptide fragment of tissue factor pathway inhibitor. Additionally, these results suggest that the VLDL receptor is critical for the selection of molecules for further development.

Robert B. Naso, Ph.D., Executive Vice President of Research & Development at Affymax, commented on the study results, "We are pleased with progress of this collaboration and the results to date. These data demonstrate the importance of our collaborative efforts with EntreMed and suggest a potential mechanism for developing drugs for the treatment of cancer and other diseases that are dependent on angiogenesis."

Carolyn F. Sidor, M.D., M.B.A, EntreMed Vice President and Chief Medical Officer, commented, "Through our collaboration with Affymax, we have made outstanding advances within this program and are using the VLDL receptor and the antiangiogenic activity for structure-function analysis to identify peptides with similar, but improved properties. The resulting new compounds will subsequently be evaluated in preclinical models for their therapeutic potential in oncology, as well as inflammatory diseases."

EntreMed has previously reported the identification of a peptide fragment of TFPI, a naturally occurring anti-coagulant protein that blocks tumor growth and angiogenesis in preclinical models. In preclinical studies, the TFPI- derived peptide's antiangiogenic mechanism of action has been shown. The peptide does not affect normal blood clotting, a risk long associated with the development of coagulation inhibitors for oncology applications and the peptide's antiangiogenic mechanism of action has been shown to be independent of TFPI's anticoagulant activity. The TFPI peptide binds to a very low density lipoprotein (VLDL) receptor and induces apoptosis (cell death) in endothelial cells, the cells that form blood vessels. Through a research collaboration, Affymax and EntreMed have combined their expertise in peptide design and drug development with the goal of identifying, for further development, novel synthetic peptides with improved antiangiogenic activities in comparison to TFPI-derived peptides.

About Affymax

Affymax, Inc. is a clinical-stage pharmaceutical company that is developing a rich pipeline of synthetic peptide-based drugs against clinically validated targets for the treatment of kidney diseases and cancer. Hematide(TM), the Company's first product candidate to enter the clinic, is a novel peptide-based drug designed to stimulate the production of red blood cells. It is in Phase 2 trials for the treatment of anemia associated with chronic kidney disease. For more information visit http://www.affymax.com.

About EntreMed

EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem(R) (2-methoxyestradiol or 2ME2), the Company's lead drug candidate, is currently in clinical trials for cancer, as well as in preclinical development for non-oncology indications. EntreMed's goal is to develop and commercialize new compounds based on the Company's expertise in angiogenesis, cell cycle regulation and inflammation -- processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available on the Company's website at http://www.entremed.com and in various filings with the Securities and Exchange Commission.

Forward Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under "Risk Factors," including risks relating to the need for additional capital and the uncertainty of additional funding; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; 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).

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010620/ENMDLOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comEntreMed, Inc.

CONTACT: Ginny Dunn, Associate Director of Corporate Communications &Investor Relations of EntreMed, Inc., +1-240-864-2643

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