Clinical Data Acquires Adenosine Therapeutics

-- Expands therapeutics pipeline with compounds in cardiology,
diabetes, inflammatory diseases, and sickle cell anemia

-- Biomarker strategies planned for development of acquired drug
candidates

-- Licensing options with leading companies in place for two
compounds
NEWTON, Mass.--(Business Wire)--
Clinical Data, Inc. (NASDAQ:CLDA) today announced the acquisition
of Adenosine Therapeutics, L.L.C., a developer of drug products based
on its extensive portfolio of composition of matter and method of use
patents relating to selective adenosine receptor modulators. In
exchange for all of the company's operating assets, Clinical Data paid
$11 million in cash, and entered into a $22 million, five-year
promissory note and a separate $3.2 million, 32-month promissory note.
Contingent consideration of up to $30 million in cash may be paid on
achievement of certain regulatory and commercial milestones.

The acquisition of Adenosine Therapeutics significantly expands
Clinical Data's PGxHealth Division's pipeline of therapeutics, adding
drug candidates in cardiology, diabetes, inflammatory diseases, and
sickle cell anemia. The acquisition further enhances PGxHealth's
pipeline with Stedivaze(TM) (apadenoson), which is expected to enter
Phase 3 testing in 2009 as a pharmacologic stress agent for myocardial
perfusion imaging. Sales of the leading adenosine product used as a
pharmacologic stress agent totaled approximately $330 million in
2007.(1) In research to date, Stedivaze has exhibited potential
best-in-class attributes.

"This transaction broadens our portfolio of drug candidates in
selected specialty markets," said Drew Fromkin, President and Chief
Executive Officer of Clinical Data. "We believe that combining our
pharmacogenomic expertise with Adenosine Therapeutics' broad estate of
highly selective adenosine receptor agonists and antagonists could
produce targeted therapeutics and companion biomarker tests across a
number of therapeutic areas, with a development path made more
efficient with the incorporation of biomarkers."

Two compounds in the Adenosine Therapeutics pipeline are the
subject of licensing option agreements. Novartis holds an option to
partner on the development of ATL844, in preclinical study for the
treatment of diabetes and asthma, and a confidential partner holds an
option on another compound in preclinical development for an
ophthalmic indication.

One of the building blocks of DNA and RNA, adenosine is a
naturally occurring molecule produced in many organs and tissues.
Cellular responses to adenosine affect many physiologic processes,
among them vasodilation, heart rhythm, and glucose control. Adenosine
Therapeutics' molecular library consists of small molecules that act
as selective agonists or antagonists at one of four adenosine receptor
subtypes: A1, A2A, A2B, and A3.

"We are particularly excited about the chance to apply our
biomarker expertise to these compounds at the clinical development and
pre-clinical development stage," noted Carol Reed, M.D., Chief Medical
Officer for Clinical Data. "Adenosine's scientific team has made
promising discoveries relating to genetic variants in adenosine
receptors and disease states such as diabetes. We believe that
pursuing biomarker strategies from the early stages of clinical trials
will enable us to realize a more efficient development pathway
resulting in drugs targeted to the segment of the patient population
most likely to respond."

"This deal was made on very favorable terms, and is precisely the
sort of opportunity we have been seeking to leverage our
pharmacogenomic expertise against a promising set of clinical and
preclinical drug candidates. In addition, our cardiology sales force
may be expanded to handle the launch of Stedivaze, once marketing
approval of that drug is obtained," Mr. Fromkin concluded.

Adenosine Therapeutics was co-founded in 1999 by University of
Virginia Professor and Vice Chair for Research of Medicine Joel
Linden, PhD, and entrepreneur Robert Capon. Its scientists are among
the world's authorities on the pharmacologic and physiologic roles of
adenosine and its receptor subtypes. Dr. Linden's research has
resulted in the publication of more than 200 scientific papers and the
development of more than 30 patented and patent-pending technologies
since the company was founded.

Drew Fromkin, Clinical Data's President and Chief Executive
Officer, will present at the 2008 BMO Capital Markets Focus on
Healthcare Conference at the Millennium Broadway Hotel today, August
5th, at 8:30 a.m. Eastern Time. Interested parties can access a live
audio web cast of the presentation at www.clda.com. A replay of the
presentation will be available at the same location.

About Clinical Data, Inc.

Clinical Data is a global biotechnology company unlocking the
potential of molecular discovery, From Targeted Science to Better
Healthcare(TM). Its PGxHealth(R) division focuses on proprietary
biomarker and pharmacogenetic test development as well as targeted
therapeutics to help predict drug safety and efficacy, thereby
reducing health care costs and improving clinical outcomes. Its
Cogenics(R) division provides genomics services to both research and
regulated environments. Through these divisions, Clinical Data is
leveraging advances in molecular discovery to provide tangible
benefits for patients, doctors, scientists and health plans worldwide.
Visit the company's website at www.clda.com for more information.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995

This press release contains certain forward-looking information
and statements that are intended to be covered by the safe harbor for
forward looking statements provided by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
statements that are not historical facts. Words such as "expect(s)",
"feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar
expressions are intended to identify forward-looking statements. These
statements include, but are not limited to, statements about our
ability to successfully integrate the operations, business, technology
and intellectual property obtained in our acquisition of Adenosine
Therapeutics; our ability to obtain regulatory approval for, and
successfully introduce our combined products; our ability to expand
our long-term business opportunities; financial projections and
estimates and their underlying assumptions; and statements regarding
future performance. All of such information and statements are subject
to certain risks and uncertainties, the effects of which are difficult
to predict and generally beyond the control of the Company, that could
cause actual results to differ materially from those expressed in, or
implied or projected by, the forward-looking information and
statements. These risks and uncertainties include, but are not limited
to: whether any of our therapeutic products will advance further in
the clinical trials process and whether and when, if at all, any of
our therapeutic products will receive final approval from the U.S.
Food and Drug Administration and equivalent foreign regulatory
agencies and for which indications; whether our therapeutic products
will be successfully marketed if approved; the extent to which genetic
markers (haplotypes) are predictive of clinical outcomes and drug
efficacy and safety; our ability to achieve the expected synergies and
operating efficiencies from our acquisition of Adenosine Therapeutics;
the strength of our intellectual property rights; competition from
pharmaceutical, biotechnology and diagnostics companies; whether
Clinical Data will be able to develop or acquire additional products
and attract new business and strategic partners; changes in government
regulations, and changing relationships with customers, payers,
suppliers and strategic partners; and those risks identified and
discussed by Clinical Data in its filings with the U.S. Securities and
Exchange Commission. Readers are cautioned not to place undue reliance
on these forward looking statements that speak only as of the date
hereof. Clinical Data does not undertake any obligation to republish
revised forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events. Readers are also urged to carefully review and consider the
various disclosures in Clinical Data's SEC periodic and interim
reports, including but not limited to its Annual Report on Form 10-K
for the fiscal year ended March 31, 2008, and Current Reports on Form
8-K filed from time to time by the Company.

(1) Astellas Pharma Inc. Fiscal Year 2007 results

EVC Group for Clinical Data, Inc.
Investors:
Dahlia Bailey, 650-305-1773
Doug Sherk, 415-896-6820
Media:
Steve DiMattia, 646-201-5445
Chris Gale, 646-831-2093
General Business Inquiries
617-527-9933 ext. 3388

Copyright Business Wire 2008