| GERN NEWS! 
 Geron Announces First In Vivo Data Indicating Telomerase Expression in Normal
 (Business Wire 12/28 18:22:19)
 Human Cells Extends Their Replicative Lifespan Without Oncogenic Transformation
 
 Business/Health and Medical Writers
 
 MENLO PARK, Calif.--(BW HealthWire)--Dec. 28, 1998--Geron
 Corporation (Nasdaq:GERN) and the University of Texas Southwestern
 Medical Center at Dallas announced today the publication of two papers
 in the Jan. 1, 1999, issue of Nature Genetics demonstrating that
 telomerase expression in normal cells confers an infinite replicative
 capacity, but does not result in cellular changes associated with
 cancer.
 These findings have important implications for scientific
 research as well as pharmaceutical drug discovery and product
 development.
 Telomerase is an "immortalizing" enzyme that imparts infinite
 replicative capacity to reproductive and cancer cells. Conversely,
 normal somatic cells that do not express telomerase have a finite
 replicative capacity and eventually senesce. Senescent cells can
 damage surrounding tissues, contributing to age-related pathologies.
 For example, senescent skin fibroblasts can contribute to slower
 healing and wrinkling. Similarly, senescent retinal pigment epithelial
 cells can contribute to age-related macular degeneration.
 Research published Jan. 16, 1998, in Science (by the same two
 research teams making today's announcement) demonstrated that the
 introduction of telomerase into normal cells resulted in the extension
 of their replicative lifespan. The two papers announced today provide
 new in vitro and the first in vivo data demonstrating that telomerase
 expression in normal cells results in cellular immortality but does
 not induce cancer-associated physical and biochemical characteristics.
 Specifically, the Geron researchers report that human skin
 fibroblasts and retinal pigment epithelial cells transfected with
 telomerase over a year ago have been continually dividing and can
 therefore now be considered immortal. Moreover, these same cells
 retain normal growth control and do not form tumors in vivo, even
 after twice the normal maximum number of population doublings. The
 University of Texas Southwestern Medical Center researchers report
 that the expression of telomerase in human fibroblasts is sufficient
 in vitro to extend their replicative capacity three times beyond when
 they would normally senesce without malignant transformation.
 According to Dr. Calvin Harley, Geron's chief scientific officer,
 "These findings and similar results from others to whom we have given
 the telomerase gene, increase our confidence that 'telomerizing'
 normal human cells will prove useful in research, genetic engineering,
 drug discovery, and treating disease".
 Geron believes that being able to generate an essentially
 unlimited supply of normal human cells will create new opportunities
 to study basic mechanisms of cell growth and differentiation, and as a
 result provide a reproducible source of young normal cells for both
 drug screening and testing as well as cell and gene therapy. For
 example, telomerase could be used to extend the limited lifespan of
 blood vessel forming cells, the shortage of which has prevented their
 widespread use for discovery of new treatments for hypertension and
 other cardiovascular diseases.
 The ability to increase and potentially regulate the lifespan of
 normal cells should also help overcome a major hurdle in genetic
 engineering and cell and gene therapies. For example, it is now known
 that the isolation, expansion, and manipulation of cells outside the
 body for reimplantation into patients causes accelerated aging of the
 cells.
 The use of 'telomerized' cells with an extended lifespan should
 enable the cells to survive longer in the body. Finally, for
 therapeutic applications, Geron will seek to use regulated telomerase
 expression to postpone or reverse senescence and age-related
 pathologies such as macular degeneration, skin atrophy, and
 atherosclerosis.
 Telomerase is actually a complex of at least two distinct
 molecules, one made of RNA and another made of protein. These two
 molecules are necessary for making active telomerase. Geron owns or
 co-owns issued patents with claims on both these molecules as well as
 their use in research, diagnostics and therapeutics.
 Senior author of the Geron Nature Genetics paper, "Telomerase
 Expression in Human Somatic Cells does not Induce Changes Associated
 with a Transformed Phenotype," is Dr. Choy-Pik Chiu at Geron.
 Co-authors at Geron include Xu-Rong Jiang, Edwin Chang, Maria Frolkis,
 Brenda Kusler and Andrea Bodnar. The work reported in this paper was
 done in collaboration with Dr. Geoffrey M. Wahl at the Salk Institute
 and Dr. Thea Tlsty at the University of California, San Francisco.
 Geron Corporation is a biopharmaceutical company focusing on
 discovering and developing therapeutic and diagnostic products based
 upon the company's understanding of human embryonic stem cells, and of
 telomeres and telomerase in cells -- fundamental biological platforms
 underlying cancer and other age-related degenerative diseases.
 The company desires to take advantage of the "safe harbor"
 provision of the Private Securities Litigation Reform Act of 1995.
 Specifically, the company wishes to alert readers that the matters
 discussed in this press release may constitute forward-looking
 statements that are subject to certain risks and uncertainties. Actual
 results may differ materially from the results anticipated in these
 forward-looking statements. Additional information on potential
 factors that could affect the company's results is included in the
 company's quarterly report on Form 10-Q for the quarter ended
 September 30, 1998.
 
 To receive an index and copies of recent press releases, call
 Geron's News On Demand toll-free fax service, 1-800-782-3279.
 Additional information about the company can be obtained at
 www.geron.com.
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