Cleveland Biolabs Inc. Management Reviews Recent Highlights and Milestones at Annual Meeting

BUFFALO, NY--(Marketwire - June 25, 2009) - Cleveland BioLabs, Inc. (NASDAQ: CBLI) today announced that Chief Executive Officer and President, Michael Fonstein, Ph.D. and Chief Scientific Officer, Andrei Gudkov, Ph.D, D. Sci. shared recent highlights and milestones at the Company’s annual meeting today.

Dr. Fonstein reviewed several of the Company’s recent achievements including:

-- Conclusion of the initial human safety study for Protectan CBLB502, a drug under development for the treatment for Acute Radiation Syndrome (ARS); -- Submission of a response to the Department of Defense Sources Sought Notice for Radiological and Nuclear Medical Countermeasures; -- Receipt of more than $22 million in development funding for CBLB502 from the Department of Defense and the Biomedical Advanced Research and Development Authority of the Department of Health and Human Services in 2008; -- Demonstration of activity and safety of first generation Curaxin anticancer compound in Phase II trial; -- Publication of new insights into the mechanism of action of first generation Curaxin anticancer compound in Oncogene; and -- Signature of a term sheet to enter into a joint venture to develop Curaxin anticancer compounds. 

Dr. Fonstein provided an update of development progress for CBLB502, emphasizing the critical development path to submission for FDA approval in late 2010, should development continue to progress in line with expectations.

Dr. Gudkov shared some pre-clinical observations regarding CBLB502’s potential activity as a supportive care agent in radiation therapy of head and neck cancer as well as some data on Protectan CBLB612, a stimulator and mobilizer of hematopoietic stem cells to peripheral blood. He also reviewed the current status of CBLI’s first and second generation of Curaxin molecules.

Dr. Fonstein concluded the session with a summary of upcoming milestones including:

-- Starting the second Phase I trial in healthy volunteers for Protectan CBLB502 in ARS; -- Starting a Phase I/II trial for Protectan CBLB502 in head and neck cancer treatment side effects; and -- Finalizing the joint venture to develop Curaxin anticancer compounds. 

About Cleveland BioLabs, Inc.

Cleveland BioLabs, Inc. is a drug discovery and development company leveraging its proprietary discoveries around programmed cell death to develop treatments for cancer and protection of normal tissues from exposure to radiation and other stresses. The Company has strategic partnerships with the Cleveland Clinic, Roswell Park Cancer Institute, ChemBridge Corporation and the Armed Forces Radiobiology Research Institute. To learn more about Cleveland BioLabs, Inc., please visit the company’s website at http://www.cbiolabs.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in the Company’s periodic filings with the Securities and Exchange Commission.