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Press Release

EntreMed Presents Progress on PAR-2 Program in Oncology and Inflammation

PAR-2 Antagonist Inhibits Angiogenesis and Inflammation
February 23, 2005

ROCKVILLE, MD, Feb 23, 2005—EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced the presentation of preclinical research results for its Proteinase Activated Receptor (PAR-2) Inhibitor program. The results were presented yesterday during the New York Academy of Sciences conference on Protease Activated Receptor (PAR)-2: Understanding the Links Between Protease Activation and Disease.

PAR-2 is a cell surface receptor that is known to play a critical role in mediating acute and chronic inflammation. EntreMed is developing a peptide that blocks PAR-2 activity, the first such compound identified as a PAR-2 antagonist. Results of the Company’s preclinical studies indicate that its PAR-2 antagonist inhibits both tumor growth and the formation of new blood vessels in cancer models. Additionally, the compound has been shown to be an inhibitor of inflammation in preclinical rheumatoid arthritis and acute inflammation models. Antagonists of PAR-2 signaling demonstrate a potential relationship between the onset of inflammation and the regulation of tumor growth and angiogenesis. All intellectual property associated with the PAR-2 peptide and small molecule mimetics are owned exclusively by EntreMed.

The PAR-2 program is part of an integrated EntreMed development effort, which is focused on a new generation of multi-mechanism drugs for the treatment of cancer and inflammatory diseases that attack disease cells directly and the blood vessels that nourish them. EntreMed’s product candidates target multiple disease pathways, including angiogenesis, inflammation, cell cycle regulation and apoptosis (programmed cell death).

Carolyn F. Sidor, MD, EntreMed Vice President and Chief Medical Officer, commented on the presentation, “The PAR-2 program is a key component of our pipeline. We are conducting further studies to understand PAR-2’s mechanisms- of-action, identify additional small molecule PAR-2 antagonists, and determine the potential applications for PAR-2 in oncology and inflammatory diseases. The New York Academy of Sciences’ symposium provided an opportunity to bring leading PAR-2 scientists together from industry and academia to discuss this rapidly evolving area of drug development.”

About EntreMed

EntreMed, Inc. (Nasdaq: ENMD) is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem® (2-Methoxyestradiol or 2ME2), the Company’s lead drug candidate, is currently in clinical trials for advanced cancer, as well as in preclinical development for indications outside of oncology. EntreMed’s goal is to develop and commercialize new compounds based on the Company’s expertise in angiogenesis, cell cycle regulation and inflammation—processes vital to the treatment of cancer and other diseases. The Company’s expertise has also led to the discovery of new molecules, including analogs of 2ME2, peptides of tissue factor pathway inhibitor (TFPI), and inhibitors of fibroblast growth factor-2 (FGF-2) and proteinase activated receptor-2 (PAR-2). EntreMed is developing these potential drug candidates for either in-house advancement or external partnering. Additional information about EntreMed is available on the Company’s website at http://www.entremed.com and in various filings with the Securities and Exchange Commission.

Forward Looking Statements

This release contains, and other statements that EntreMed may make may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals. Forward-looking statements are typically identified by words or phrases such as “believe,” “feel,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “target,” “assume,” “goal,” “objective,” “plan,” “remain,” “seek,” “trend,” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and EntreMed assumes no duty to update forward-looking statements. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in EntreMed’s Securities and Exchange Commission filings under “Risk Factors,” including risks relating to EntreMed’s need for additional capital and the uncertainty of additional funding; the early-stage products under development; uncertainties relating to clinical trials; our success in the further clinical development of Panzem® NCD, dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company’s proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).

COMPANY CONTACT:
CASI Pharmaceuticals, Inc.
Rui Zhang
240-864-2643
ir@casipharmaceuticals.com
INVESTOR CONTACT:
Solebury Trout
Xuan Yang
646-378-2975
xyang@troutgroup.com

About Us

CASI is a U.S. NASDAQ-listed biopharmaceutical company with a platform to develop and accelerate the launch of pharmaceutical products and innovative therapeutics in China, the U.S., and throughout the world. We have offices in Rockville, Maryland, and a wholly owned subsidiary in Beijing, China, through which substantially all of our operations are conducted.

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