Neose Technologies, Inc. Provides Update On GlycoPEG-GCSF Program

HORSHAM, Pa.--(BUSINESS WIRE)--Sept. 22, 2006--Neose Technologies, Inc. (NasdaqGM:NTEC) today announced that it has been advised by its co-development partner for GlycoPEG-GCSF, BioGeneriX AG, a company of the ratiopharm Group, that, although no decision has been made, BioGeneriX may delay commencement of Phase I clinical trials for the compound unless it secures a financing and development partner. Under the terms of the Research, Co-Development and Commercialization Agreement ("Agreement") entered into by Neose and BioGeneriX in April 2004, BioGeneriX is responsible for all clinical development costs, with the exception of the cost of Neose reagent supply. BioGeneriX has made a submission to the regulatory authority in a Western European country and is awaiting approval to initiate a Phase I trial for GlycoPEG-GCSF.