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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: patchman who wrote (29610)	4/13/1999 9:30:00 AM
From: Market Tracker	Respond to of 122087

<IMCL> Here is the good news - PHILADELPHIA--(BW HealthWire)--April 13, 1999--ImClone Systems Incorporated (Nasdaq: IMCL.O) announced today positive preclinical data on its anti-angiogenesis monoclonal antibody. The findings were presented in a poster session at the annual meeting of the American Association for Cancer Research (AACR). The Company's monoclonal antibody targets a receptor of the vascular endothelial growth factor (VEGF) referred to as FLK-1 in mice and KDR in humans. The VEGF receptor, FLK-1/KDR, (also referred to as VEGFR-2) plays an important role in tumor angiogenesis. In angiogenesis, growth factors such as VEGF bind to receptors on blood vessels and trigger their growth, increasing vascularization of both normal tissues and tumors, which demand additional blood supply. Scientists from the laboratory of Dr. Daniel Hicklin of ImClone presented in vivo findings demonstrating that administration of the anti-VEGFR-2 antibody resulted in a reduction of new blood vessel formation in tumors by as much as 80 percent and a decrease of existing blood vessel structures. Additionally, administration of anti-VEGFR-2 antibody significantly reduced or completely halted growth of established tumors. Further, examination of treated tumors showed evidence of tumor necrosis (tissue death), decreased vascular permeability, decreased endothelial cell division and decreased microvessel density. "These data provide support to our belief that the FLK-1/KDR receptor is a critical pathway in the way that new blood vessels grow in cancer. By targeting a specific receptor expressed exclusively on growing blood vessels in tumors rather than going after the growth factor, our rationale is to create a highly selective compound with desirable qualities for future clinical development," stated Samuel D. Waksal, President and CEO of ImClone Systems. "Using this research, along with additional work we have completed in this area, we intend to initiate clinical trials in 1999." In addition to the anti-angiogenesis program, ImClone has two oncology products in late stage clinical development. In March 1999, ImClone initiated Phase III studies using C225, an inhibitor of epidermal growth factor receptor, in head and neck squamous cell cancers, in combination with radiation therapy. In addition, ImClone and its corporate partner, Merck KGaA, have initiated a Phase III multinational trial to study BEC2, a cancer vaccine, in limited disease small cell lung cancer patients. ImClone Systems Incorporated, headquartered in New York, is a biopharmaceutical company developing novel therapeutic products including interventional therapeutics, cancer vaccines and blood cell growth factors for the treatment of cancer and cancer-relateddisorders. Except for the historical information contained herein, the matters discussed in this news release may include forward-looking statements. Actual results may differ materially from those predicted in such forward-looking statements due to the risks and uncertainties inherent in the Company's business, including, without limitation, risks and uncertainties in obtaining and maintaining regulatory approval, market acceptance of and continuing demand for the Company's products, the impact of competitive products and pricing, and the Company's ability to obtain additional financing to support its operations. The Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the datehereof. --30--et/ny* CONTACT: Burns McClellan, Inc., New York Justin Jackson, Jason Farber (media) Jonathan M. Nugent (investors) 212/213-0006