INNOVIVE Pharmaceuticals to Present Interim Data From Phase I Study of INNO-406 at the American Society of Clinical Oncology Annual Meeting

INNOVIVE Pharmaceuticals, Inc. (OTCBB: IVPH) today announced that interim data from a Phase I trial of INNO-406, an orally bioavailable dual Bcr-Abl and Lyn-kinase inhibitor for Gleevec®-resistant or treatment-intolerant chronic myelogenous leukemia, will be presented at the 43rd American Society of Clinical Oncology Annual Meeting. The meeting takes place June 1- 5, 2007 at McCormick Place in Chicago, Illinois.

Information related to the presentation is as follows:

Presentation Title: “A phase I study of INNO-406, a dual inhibitor of Abl and Lyn kinases, in adult patients with Philadelphia chromosome positive (Ph+) chronic myelogenous leukemia (CML) or acute lymphocytic leukemia (ALL) relapsed, refractory, or intolerant of imatinib” Abstract Number: 7046 Session: General Poster Session, Leukemia, Myelodysplasia and Transplantation, Poster Board #L2 Location: S Hall A2, McCormick Place Session Date: Saturday, June 2, 2007 Session Time: 8:00 a.m. – 12:00 p.m.

About INNO-406

INNO-406 (formerly known as NS-187) is a potent, oral, rationally designed, dual Bcr-Abl and Lyn-kinase inhibitor currently being investigated in a Phase I clinical study. According to a study published in the journal Blood (Dec. 1, 2005), INNO-406 is 25- to 55-times more potent than imatinib in vitro and is at least 10-times as effective as imatinib mesylate in suppressing the growth of Bcr-Abl bearing tumors. INNO-406 has demonstrated activity in 18 of 19 imatinib-resistant cell lines. In addition to its Bcr-Abl inhibitory properties, INNO-406 inhibits Lyn kinase. Upregulation of Lyn kinase activity is a well recognized cause of imatinib resistance. Lyn kinase activation has also been documented in a variety of solid tumors, including prostate cancer.

About INNOVIVE Pharmaceuticals

INNOVIVE Pharmaceuticals, Inc. acquires, develops and commercializes novel therapeutics addressing significant unmet medical needs in the fields of oncology and hematology. The company has four drug programs in clinical development: INNO-406, Tamibarotene, INNO-206, and INNO-305, for the treatment of chronic myelogenous leukemia, acute promyelocytic leukemia, small cell lung cancer, and acute myelogenous leukemia, respectively. For additional information visit www.innovivepharma.com.

Gleevec® is a registered trademark of Novartis Pharmaceuticals Corporation.