Creative BioMolecules and the University of Colorado School of Medicine Receive Grant from NIH for Parkinson’s Research

Hopkinton, MA, October 6, 1998—Creative BioMolecules, Inc. (Nasdaq: CBMI) announced today that it has received a Phase I Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH) for research into morphogenic protein-based therapies for the treatment of Parkinson’s Disease. The research is being conducted in collaboration with Paula C. Bickford, Ph.D., Associate Professor of Pharmacology at the University of Colorado’s School of Medicine.

Creative BioMolecules has proprietary rights to a family of neurotrophic proteins with demonstrated activity in multiple animal models of disease including stroke and initial results in Parkinson’s Disease. This grant will support research to evaluate the potential of these proteins to restore dopaminergic neurons, the brain cells damaged in Parkinson’s Disease, and promote the reestablishment of signaling pathways in the central nervous system.

Dr. Bickford commented, "Factors that promote the survival or prevent the progressive deterioration of dopaminergic neurons may have significant benefit in treating Parkinson's Disease. Early research indicates that OP-1 may represent the first protein in an exciting family of neurotrophic factors."

Carl M. Cohen, Ph.D., Vice President for Research at Creative BioMolecules commented, "We are pleased that the NIH has chosen to support our collaborative research with Dr. Bickford at the University of Colorado. Our initial preclinical studies indicate the potential of OP- 1 to modulate or halt the progression of Parkinson’s Disease. Based on these promising results further studies are planned and are the basis of this grant."

The research conducted through this grant expands the Company’s current research into the development of morphogenic protein–based therapies for disease and injury effecting the central nervous system. The Company has recently announced a two year collaboration into the development of brain trauma, spinal cord injury and stroke therapies with The Miami Project to Cure Paralysis and has ongoing research in stroke recovery with the Massachusetts General Hospital.

Parkinson's Disease is a debilitating neurodegenerative disease of the nervous system resulting from the progressive loss of dopaminergic neurons in the brain. Annually in the United States there are approximately 50,000 newly diagnosed cases adding to the estimated 1,000,000 existing victims. Although, Parkinson's Disease does not affect lifespan, it has a significant impact on the quality of life of those afflicted. Symptoms include stiffness, tremors, slowness of movement, difficulty with balance, and difficulty in walking.

Creative BioMolecules has established a substantial proprietary position in the field of morphogenic proteins, including OP-1. The Company’s morphogenic protein programs include a late stage development effort in orthopaedic reconstruction with Stryker Corporation, ongoing research to develop a treatment for chronic renal disease with Biogen, Inc., and proprietary new therapies for stroke and other neurological disorders. The Company’s research focus is also directed toward the discovery of new therapeutic applications of its morphogenic proteins and the understanding of signaling pathways to develop small molecules based on the biology of these proteins.

This news release includes forward-looking statements that involve risks and uncertainties. Factors which could cause actual results to differ from the Company’s expectations include, without limitation, the course of the research and development programs, including the achievement of research and development milestones by the Company, the impact of competitive products, the timely receipt of regulatory clearances required for clinical testing, completion of clinical testing, manufacturing and marketing of products and the other risks and uncertainties detailed from time to time in the Company’s periodic reports.

NOTE: Creative BioMolecules, Inc. makes available its latest news releases on the Internet at http://www.creativebio.com and http://www.prnewswire.com or by facsimile by calling Fax On Demand at 1-800-758-5804, extension 212213.

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For additional information on this news release, please contact the Company.


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