Morphotek Announces Initiation of Phase II Clinical Studies For MORAb-003 in Ovarian Cancer

Morphotek, Inc.

Morphotek Announces Initiation of Phase II Clinical Studies For MORAb-003 in Ovarian Cancer

June 8, 2006

EXTON, Pa., June 8 /PRNewswire/ -- Morphotek, Inc. today announced initiation of Phase II efficacy studies in major cancer centers worldwide for its anti-cancer antibody MORAb-003. MORAb-003 is a monoclonal antibody that targets the folate receptor alpha (FRA), a target over-expressed in over 90% of ovarian cancers and a number of other solid tumors. The antibody works via suppression of FRA-mediated signal transduction and induces tumor-specific cytotoxicity by both antibody dependent cellular and complement mediated immune-effector mechanisms. The antibody has shown clinical activity in a Phase I trial which was presented by investigators from the Memorial Sloan-Kettering Cancer Center at the American Society of Clinical Oncology Meeting on June 4th, 2006.

"During the course of Phase I clinical trials, a number of clinical responses were observed in platinum-resistant ovarian cancer patients treated with MORAb-003 alone. The antibody has been well tolerated in all patients to date with no serious drug related adverse events observed. We are encouraged by this early data and look forward to efficiently and successfully advancing this compound through the clinic," stated Martin Phillips, M.D., Morphotek's Sr. Vice President of Clinical Development. "The initiation of the Phase II study represents a significant milestone in our clinical development program and optimism for the potential of this antibody for treating ovarian cancer and other FRA-positive cancers."

The Phase II clinical trials will be conducted in cancer centers in the US and Europe. These studies will include patients with ovarian cancer who are experiencing their first relapse after primary surgery and chemotherapy, and are still sensitive to platinum chemotherapy. The Phase II trials will evaluate the efficacy of MORAb-003 both as a single agent and in combination therapy with carboplatin and taxane. Further information on the Phase 2 clinical trial may be found at http://www.clinicaltrials.gov/ct/show/NCT00318370

Morphotek, Inc. is a biotechnology company focused on the generation of proprietary proteins for product discovery and development. The Company has a validated and patented platform technology called morphogenics that rapidly enhances the natural process of genetic evolution within a targeted host to yield variants with novel, commercially important output traits. Morphotek markets an antibody development platform called Human MORPHODOMA(R) that employs morphogenics to yield fully human, high-affinity antibodies from high- titer hybridoma cells. The platform is also employed as a discovery tool to generate libraries of hybridomas yielding fully-human antibodies for the diagnosis and treatment of human disease. Both platforms bypass the burdensome royalty stacking issues associated with recombinant antibody technologies. Internally, Morphotek employs its technologies to develop optimized therapeutic antibodies for the treatment of cancer, inflammatory and infectious diseases. For further information visit www.morphotek.com.

Contact

Bob Radie, Chief Business Officer
Phone: 610-423-6180 or e-mail: info@morphotek.com