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NEWS THAT CANNOT BE OVERLOOKED

NDReg2

Date: 21 Mar 2008
Time: 08:38:30

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Date: 06 Jul 2001
Time: 12:50:12

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News that cannot be overlooked is that reported by a team of scientists from Progenics and the Albert Einstein College of Medicine, Bronx, NY, stating in the Journal of Virology (Volume 75, issue 12), June 2001 that Sulfated CCR5 peptides when attached to HIV they specifically inhibit the binding of the virus to human immune system cells.

The good news is that the sulfated CCR5 peptides target a region on the virus that does not appear to vary across different strains of HIV, suggesting that such molecules might be broadly active against diverse strains of the virus, including those resistant to conventional therapies.

Progenics' scientists and collaborators have previously identified CCR5 to be a key co-receptor required for wild-type HIV strains to fuse with and infect target cells.

Subsequent studies mapped the attachment site for HIV on CCR5 to a short sequence of amino acids that contain sulfate groups, a natural chemical modification. To enter the T-lymphocyte, a highly conserved region in the virus binds to a nine amino acid stretch of CCR5.

DEFYING THE CHALLENGE OF HIV MUTATION

The great ability of HIV to mutate provides challenges for conventional antiviral therapies. However, the CCR5-binding region of HIV is among the most highly conserved portions of the virus. Therefore, the CCR5-virus interaction could provide a preferred target for therapy.

According to the published report, a series of synthetic CCR5 peptides were tested for potency in binding the surface envelope glycoprotein gp120 derived from diverse HIV isolates. Potent and specific activity was observed for a nine-amino-acid sulfated CCR5 peptide, but not for peptides that were shorter or that lacked sulfate groups.

Scientists had observed that individuals who possess two defective CCR5 genes were found to be resistant to HIV infection. HIV-infected individuals who possess one defective and one normal CCR5 gene progress to AIDS more slowly than individuals with two normal CCR5 genes. These findings provided in vivo proof-of-concept for CCR5-directed therapy of HIV infection.

ENTRY INHIBITORS

Progenics and F. Hoffmann-La Roche Ltd, collaborate for the discovery and development of small-molecule drugs that block CCR5 co-receptor function. Peptide, antibody and small-molecule inhibitors of CCR5 co-receptor function belong to a broader category of agents known as HIV entry inhibitors. The Company is conducting preclinical work to optimize its lead sulfated CCR5 peptide in anticipation of human clinical trials.

A MONOCLONAL ANTIBODY

PRO 140 is Progenics CCR5 monoclonal antibody. It is the company’s first-generation CCR5-targeted fusion inhibitor.

PROGENICS BY PROGENICS

Progenics Pharmaceuticals, Inc., of Tarrytown, NY, is a biopharmaceutical company focusing on the development and commercialization of products for the treatment and prevention of viral, cancer, and other life-threatening diseases. The Company applies its immunological expertise to develop biopharmaceuticals to fight viral diseases, such as human immunodeficiency virus (HIV) infections, and cancers, such as malignant melanoma and prostate cancer.

ITS PRODUCTS

PRO 542, a viral-entry inhibitor is in clinical trials

PRO 367 has completed a Phase I study.

PRO 140 is preparing to commence Phase I/II trials.

A lead therapeutic candidate has been selected from a novel class of anti-HIV compounds known as sulfated CCR5 peptides.

The Company is also engaged in programs to discover and develop small-molecule HIV therapeutics that target the fusion co-receptors of the virus and other programs focusing on HIV attachment and fusion.

Progenics is developing cancer immunotherapies based on PSMA (prostate specific membrane antigen) technology) with Cytogen.

The Company's most clinically advanced product, GMK, is a cancer vaccine in Phase III clinical trials for the treatment of malignant melanoma.

A second cancer vaccine, MGV, with broad application to a variety of cancers. is being developed, in addition to novel small-molecule antioxidant, dehydroascorbic acid (DHA), to treat stroke and other disorders.

DISCLAIMER

This press release contains forward-looking statements. Any statements contained herein that are not statements of historical fact may be forward-looking statements. When the Company uses the words "anticipates," "plans," "expects" and similar expressions they are identifying forward-looking statements. Such forward-looking statements involve risks and uncertainties which may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such factors include, among others, the uncertainties associated with product development, the risk that clinical trials will not commence when or proceed as planned, the risks and uncertainties associated with dependence upon the actions of the Company's corporate, academic and other collaborators and of government regulatory agencies, the risk that products that appear promising in early clinical trials do not demonstrate efficacy in larger-scale clinical trials, the uncertainty of future profitability and other factors set forth more fully in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2000 and other periodic filings with the Securities and Exchange Commission to which investors are referred for further information. In particular, the Company cannot assure you that any of the their programs will result in a commercial product. The Company does not have a policy of updating or revising forward-looking statements, and thus it should not be assumed that the Company's silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements.

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