Press release

Oncopeptides AB. Presents the New Anticancer Agent J1 at The American Society of Hematology Annual Meeting in Orlando Florida”

December 01, 2010

STOCKHOLM, SWEDEN – 1 December 2010 – Oncopeptides AB today announced that preclinical results for J1 will be presented this week-end at the ASH Annual Meeting in Orlando, Florida, USA. The abstract 1838, entitled “Anti-Myeloma Activity Of Enzymatically Activated Melphalan Prodrug J1”, will be presented at the I poster session on Saturday, December 4, 2010, 5:30 PM – -7:30 PM Hall A3/A4 (Orange County Convention Center) Poster Board I-818.

The study provides the rational for a clinical evaluation of J1 in multiple myeloma and has been conducted in collaboration with the Dana-Farber Cancer Institute under the leadership of Prof Kenneth Anderson.

“We are very excited about the unique preclinical data on J1 and pleased to be able to present them at this important meeting” says Jack Spira, CEO of Oncopeptides AB. “Of particular interest is the greater cytotoxic potency of J1 versus melphalan against multiple myeloma cells.”

About J1
J1 is an intravenously administered prodrug of the alkylating agent melphalan. Preclinical data has shown that following activation by enzymes overexpressed in tumor cells, J1 accumulates to high intracellular levels which results in a strong anti tumor effect on primary tumor cells. J1 is presently in a phase IIa clinical trial.

About Oncopeptides AB
Oncopeptides is a privately held company developing pharmaceuticals to treat cancer. The Company has proprietary technology based on creating pro-drugs with increased efficacy of already known cytotoxic compounds. The lead substance, called J1, is presently in a phase IIa clinical trial. Oncopeptides is owned by Karolinska Development, Industrifonden, and its founders. The Company is seeking partnering opportunities with parties interested in participating in co- development and later, commercialization.

For more information, please contact:
Jack Spira, MD PhD (CEO, Oncopeptides AB, Stockholm, Sweden)
Telephone: +46 704 107184