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NEREUS BEGINS TRIAL OF ANTICANCER COMPOUND

June 9, 2006

Nereus Pharmaceuticals has initiated a Phase I clinical trial to evaluate the safety and tolerability of NPI-2358, a novel, small molecule tumor vascular disrupting agent for the treatment of patients with solid tumors.

The open-label, single-agent study will be conducted at two centers with well known expertise in developing new oncology drugs: the Barbara Ann Karmanos Cancer Institute in Detroit, Mich., and the CTRC Institute for Drug Development in San Antonio, Texas.

Trial participants will receive once-weekly, intravenous doses of NPI-2358, which will be escalated to determine maximum tolerated dose. Other objectives include tumor response, pharmacokinetic and pharmacodynamic analyses. The trial is expected to enroll approximately 35 patients.