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Cenomed BioSciences Joins Forces With U.S. Army Medical Research Institute of Chemical Defense to Evaluate Therapeutics for Use in Chemical Defense

Posted on: Monday, 24 September 2007, 09:00 CDT

Cenomed BioSciences, LLC, a majority-owned subsidiary of Abraxis BioScience, Inc. (NASDAQ:ABBI), today announced that it has signed a three-year cooperative research and development agreement (CRADA) with the United States Army Medical Research Institute of Chemical Defense (USAMRICD) to evaluate Cenomed's lead investigational compound CM-2,501 and other associated compounds, for the prevention of toxicities following exposure to chemical warfare agents. Cenomed's compounds are being developed as a pre- and post-exposure therapy for military and civilian victims of a chemical nerve agent attack. Financial terms of the agreement were not disclosed.

Under the CRADA, Cenomed plans to conduct preclinical studies and will supply the compounds to USAMRICD for evaluation. USAMRICD will perform all work associated with the chemical warfare agent exposure.

"Cenomed has a strong focus on chemical defense and we are pleased to enter a cooperative research and development agreement with U.S. Army Medical Research Institute for Chemical Defense," said David R. Helton, President, CEO and CSO of Cenomed BioSciences, LLC. "This agreement not only expands the scope of Cenomed's research capabilities, but also provides the company with a greater potential to develop therapies that address unmet counter terrorism needs."

"This CRADA allows for further evaluation of the therapeutic potential of Cenomed's lead bio-defense compound CM-2,501, while at the same time enabling our company to continue discussions with other potential development partners," said John Andreadis, Managing Partner, HealthPro BioVentures, and acting Chief Business Officer.

This is the second major agreement for Cenomed since the company was founded in May 2007 through a joint venture between Abraxis BioScience, Inc. and Cenomed Inc. In May 2007, Cenomed partnered with Abraxis BioScience for the development of novel therapeutics for use in chemical defense and for the treatment of nervous system disorders with a focus on psychiatric and neurological diseases. Cenomed plans to continue exploring additional strategic partnership opportunities within the pharmaceutical sector for the development of other novel compounds discovered by the company.

About U.S. Army Medical Research Institute of Chemical Defense (USAMRICD)

The USAMRICD is a world leader in medical chemical defense research. USAMRICD develops medical countermeasures to chemical warfare agents and trains medical personnel in the medical management of chemical casualties and is a recognized leader in this field. To facilitate the search for safe and effective medical countermeasures to chemical warfare agents, the USAMRICD has developed research programs designed to address the broad spectrum of chemical agents. The research programs of the USAMRICD provide medical countermeasures that treat and protect service members through antidote therapy, topical skin protectant barriers, and pretreatment protective measures. Please refer to USAMRICD's web site at: http://chemdef.apgea.army.mil/.

About Cenomed BioSciences, LLC

Cenomed BioSciences, LLC, a joint venture between Abraxis BioScience, Inc. (NASDAQ:ABBI) and Cenomed, Inc., is a pharmaceutical company focused on the development of innovative new drug therapies for chemical defense and for the treatment of nervous system disorders such as schizophrenia, mild cognitive impairment and memory/attention impairments associated with aging, attention deficit hyperactivity disorder and pain. Cenomed BioSciences is a majority-owned subsidiary of Abraxis BioScience, Inc. More information on Cenomed BioSciences is available at www.cenomedbiosciences.com.

Source: Business Wire

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