Novelix Pharmaceuticals, Inc. Initiates Actinic Keratosis Drug Development Program Based on Topical Use of NVX-207 and Expands Intellectual Property Portfolio

LA JOLLA, Calif.--(BUSINESS WIRE)--Novelix Pharmaceuticals, Inc. (Novelix), a biopharmaceutical company developing small molecule cancer therapeutics, announced today that it has selected the large-market indication of actinic keratosis (AK) as the main focus of the company’s dermatology development program. NVX-207, a targeted therapeutic regulating caspase-9, has shown itself to be ideally suited for topical treatment. Strong patents covering the composition of the drug candidate issued recently in the US and China. Over 30 European countries are expected to issue additional patents in January 2009.

Novelix CEO, Dr. Burkhard Jansen, sees considerable promise based on safety and efficacy results in three animal species and in a human pilot case study. “The needs are clear for improved treatments over the current surgical or harsh topical approaches. The market size exceeds $1 billion per year in the US alone for AK. This presents a tremendous opportunity for an active and well-tolerated compound like NVX-207,” he notes. “The strong patent position of Novelix further enhances value for shareholders and future licensees.”

About Novelix Pharmaceuticals Inc http://www.novelix.com

Novelix Pharmaceuticals Inc. (Novelix), a Delaware corporation, is a California-based biopharmaceutical company committed to developing proprietary, first-in-class, targeted small molecules for oncology and dermatology indications. From its large portfolio of compounds, the company has currently selected four drug candidates for development.

Forward-Looking Statement

This news release contains forward-looking statements that involve significant risks and uncertainties. Novelix is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed. Results may differ materially from those that Novelix projects.