CeNeRx BioPharma Obtains Rights to Novel Drug Candidate for Prevention and Treatment...

CeNeRx BioPharma Obtains Rights to Novel Drug Candidate for Prevention and
Treatment of Neurodegeneration Disorders

--Orally Active Enhancer of Human Nerve Growth Factor Has Demonstrated
Promising Activity Preclinically--

--Broad Potential Applications Include Neuropathies, Alzheimer's and
Huntington's Disease and Others--

RESEARCH TRIANGLE PARK, N.C., June 16 /PRNewswire/ -- CeNeRx BioPharma, Inc.,
a clinical stage company developing and commercializing innovative treatments
for diseases of the central nervous system (CNS), today announced that it has
obtained the rights to develop and market a novel agent for the prevention and
treatment of neuropathies and neurodegenerative disorders. The drug
candidate, CXB909, is a small molecule, orally active agent that enhances the
effects of nerve growth factor (NGF). CeNeRx intends to initiate a Phase l
trial of CXB909 for the treatment of chemotherapy-induced peripheral
neuropathy (CIPN) later this year.

"Nerve growth factor has long been of interest as a potential therapy for
neuropathies and neurodegenerative diseases, but recombinant NGF lacks key
qualities needed for successful CNS drugs," said Dr. Daniel Burch, Executive
Vice President of R&D and Chief Medical Officer of CeNeRx. "In preclinical
studies, our small molecule agent CXB909 has been shown to increase the action
of native NGF, but without the pharmacokinetic and administration challenges
of recombinant NGF. Most notably, CXB909 crosses the blood brain barrier, has
a long half-life and is orally available. The preclinical data for this agent
is very promising, and we look forward to assessing it in the clinic for
neuropathic and neurodegenerative conditions that currently have no treatment
options."

CXB909 is a downstream enhancer of the effects of nerve growth factor, an
endogenously produced neurotrophic factor that is important for the function
and survival of several types of neurons. Both Alzheimer's disease and
Huntington's disease involve the degeneration of certain neurons, and neuronal
damage is also implicated in the peripheral neuropathies associated with
diabetes, kidney disease, cancer chemotherapy and other conditions. In
preclinical studies, CXB909 enhanced the action of NGF in vitro, amplifying
its activity almost seven-fold. CXB909 was neuroprotective in a variety of
cellular assays and in animal models of neuropathies and neurodegenerative
diseases, including chemotherapy-induced neuropathy, for which there is
currently no approved treatment.

"The addition of CXB909 to our development pipeline is another example of the
growing success of our strategy to in-license novel CNS agents with validated
mechanisms for the treatment of underserved CNS disorders," said Barry Brand,
Chief Executive Officer of CeNeRx. "Our rapidly aging population is at risk
for devastating neuropathic and neurodegenerative diseases that lack effective
therapies. We intend to move quickly to test CXB909 in relevant conditions,
beginning with chemotherapy-induced peripheral neuropathy, a disabling and
dose-limiting side effect of cancer treatment with a relatively
straightforward pathway to clinical development and regulatory review."

CXB909 was licensed from Krenitsky Pharmaceuticals Inc., which also licensed
the RIMA series of selective and reversible monoamine oxidase inhibitor (MAOI)
compounds to CeNeRx. The lead compound in that program, TriRima(TM), is
currently in a Phase II trial for the treatment of major depressive disorder.
Further details of the new licensing agreement were not disclosed.

About CeNeRx BioPharma
CeNeRx is a privately held clinical stage biopharmaceutical company developing
and commercializing innovative treatments for diseases of the central nervous
system. CeNeRx's most advanced compound, a reversible inhibitor of monoamine
oxidase, or RIMA, is in Phase II development for the treatment of major
depressive disorder. RIMAs may have efficacy advantages over current agents
for depression and are expected to have a good safety profile. The company's
CNS pipeline also includes CXB909, a small molecule, orally active agent for
the prevention and treatment of neuropathies and neurodegenerative disorders;
a series of novel compounds for anxiety and depression; and a series of
selective cannabinoid compounds that have recently completed successful
preclinical proof-of-concept studies for the treatment of pain, glaucoma and
spasticity. More information about CeNeRx BioPharma can be found at
www.cenerx.com.

Contact:
GendeLLindheim BioCom Partners
Barbara Lindheim
212 918 4650

SOURCE CeNeRx BioPharma, Inc.

Barbara Lindheim of GendeLLindheim BioCom Partners, +1-212-918-4650, for
CeNeRx BioPharma