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Biotech / Medical : EntreMed (ENMD) -- Ignore unavailable to you. Want to Upgrade?

To: Don Dorsey who wrote (1945)	6/30/1999 12:38:00 PM
From: Don Dorsey	Read Replies (1) \| Respond to of 2135

EntreMed, Inc. Announces Extension of Sponsored Research Agreement With Folkman Lab At Children's Hospital, Boston Health/Medical Writers ROCKVILLE, Md--(BW HealthWire)--June 30, 1999--EntreMed, Inc. (NASDAQ:ENMD) today announced the extension of its sponsored research agreement with Dr. Judah Folkman's laboratory at Children's Hospital, Boston. EntreMed, Inc. and Children's Hospital, Boston have been working together under a sponsored research agreement since September 1993. EntreMed, Inc. supported the discovery of its lead product candidates, Endostatin(TM) protein, Angiostatin(R) protein, and 2-methoxyestradiol, all potent inhibitors of angiogenesis, through a sponsored research agreement with Children's Hospital that would have expired in September 1999. Under the terms of the agreement signed today, EntreMed will continue to fund certain research projects in Dr. Folkman's laboratory and will have rights to discoveries arising from these projects. Further, scientists and technicians in the Folkman laboratory will provide research support related to the upcoming clinical trials of Endostatin(TM) protein and Angiostatin(R) protein. Dr. Folkman commented on the relationship with EntreMed, "I am pleased with the extension of the relationship between EntreMed and Children's Hospital. I look forward to assisting in the first clinical trial of Endostatin(TM) protein later this year." Under EntreMed-sponsored research, Dr. Michael O'Reilly isolated Angiostatin(R) protein in Dr. Folkman's laboratory at Children's Hospital in 1994 and isolated Endostatin(TM) protein in 1996. It was also in this laboratory that the potent antiangiogenic effects of thalidomide and 2-methoxyestradiol were first discovered. Thalidomide is now clinically available as an antiangiogenic drug under the tradename THALOMID(R) through a regulated distribution program conducted by Celgene, Inc., Warren, NJ. Both EntreMed and Children's Hospital receive royalties on all sales of THALOMID(R). Dr. John W. Holaday, EntreMed Chairman, President and Chief Executive Officer stated, "We are indeed pleased to extend this significant relationship with Judah Folkman and his team at Children's Hospital for an additional year. Through our relationship with Dr. Folkman the most potent inhibitors of angiogenesis, as reported in the scientific literature, have been discovered and are now being developed as potential next-generation cancer therapeutics. EntreMed continues to extend its product pipeline through a robust internal discovery program and strategic relationships such as the sponsored research agreement with Children's Hospital which may be further extended by mutual agreement." The agreement between EntreMed and Children's Hospital provides ongoing support to the Hospital for discovery and preclinical research in the field of angiogenesis pioneered by Dr. Folkman thirty years ago. As with the earlier agreement, Dr. Folkman does not personally benefit under the new agreement. Dr. Folkman does not own any shares of EntreMed stock, serves in no official capacity for the Company, and receives no compensation from EntreMed through this agreement. Rockville, MD-based EntreMed, Inc. The Angiogenesis Company (TM), is a leader in the field of antiangiogenesis research, which studies the inhibition of abnormal blood vessel growth recently associated with a broad range of diseases such as cancer and atherosclerosis. The Company's strategy is to accelerate development of its core technologies through collaborations and sponsored research programs with university medical departments, research companies and government laboratories. For further information, please visit the EntreMed web site at www.entremed.com.