GLGS Glycogenesys Inc. (MM)

Data Presented At The XI International Work Shop on Chronic Lymphocytic Leukemia GlycoGenesys, Inc., (NASDAQ: GLGS), a biotechnology company, today announced that Dr. Finbarr Cotter, Professor, Barts and The London School of Medicine UK, revealed new findings about the Company's cancer drug candidate GCS-100 over the weekend at the prestigious XI International Work Shop on Chronic Lymphocytic Leukemia in New York City. The poster presentation and a corresponding abstract from the conference were entitled "GCS-100, A Selective Galectin-3 Mediated CLL Therapy Induces Angiogenic and AKT1 Inhibition With Caspase-9 Activation." AKT1: The pivotal role of AKT1 in cell survival has made it an important target in cancer, cardiovascular, and neurodegenerative drug discovery. Active or up regulated AKT1 in cancer cells promotes cell survival and drug resistance and confers cell longevity in lymphomas, leukemia's and solid tumor cancers. New scientific findings include: -- When treated with GCS-100, a variety of lymphoma and myeloma cell lines, and chronic lymphocytic leukemia primary patient cells showed distinct down regulation of AKT1 in a dose dependent manner. This in vitro data shows that GCS-100 can inhibit the cell survival promoting effects of AKT1 in lymphoma cells including patient cells. -- The activity of VEGF, a pro-angiogenic factor was inhibited in cell lines when treated with GCS-100. This is significant because VEGF plays an important role in angiogenesis and in the survival, growth and proliferation of many cancer tumors including B cell lymphomas and chronic lymphocytic leukemia In June 2005 -- Dr. Cotter published for the first time that Galectin-3 and Bcl-2 are co- located in malignant cell lines; -- That GCS-100 blocks Galectin-3's ability to co-locate with Bcl-2 in these malignant cell lines causing targeted cell death; -- And, this programmed cell death occurs through the known caspase-9 mediated cell death pathway; -- Moreover, GCS-100 induced significant programmed cell death in both malignant cell lines and primary patient CLL cells with minimal effect against normal B- cells and stem cells. Dr. Cotter commented, "The first clinical trial of GCS-100 for chronic lymphocytic leukemia is planned to be initiated next month in the U.S. and I am looking forward with enthusiasm to be a principal investigator of the U.K. arm of the trial. GCS-100 shows real preclinical promise to emerge as an exciting new agent for cancer therapy. We are now obtaining greater clarity into the mechanisms of action for GCS-100 which is considerably assisting us in designing its application in the clinic. It is potentially an ideal therapeutic molecule because of its tri-modal anti-cancer action which spares normal cells from cell death." Bradley J. Carver, CEO and President of GlycoGenesys, Inc. stated "This supports the important role of Galectin-3 in AKT activation and prevention of apoptosis in malignant cells. Targeting Galectin-3 with GCS-100 for malignant cells is a rational therapeutic approach. These results further support our focused clinical trial program." About GlycoGenesys, Inc. GlycoGenesys, Inc. is a biotechnology company focused on carbohydrate drug development. The Company's drug candidate GCS-100, a unique compound to treat cancer, has been evaluated in previous clinical trials at low dose levels in patients with colorectal, pancreatic and other solid tumors with stable disease and partial response documented. The Company currently is conducting a Phase I dose escalation trial to evaluate higher dose levels of GCS-100LE, a low ethanol formulation of GCS-100, at Sharp Memorial Hospital, Clinical Oncology Research in San Diego, California and the Arizona Cancer Center in both Tucson and Scottsdale, Arizona. In addition, GCS-100LE is being evaluated in a Phase I/II trial for multiple myeloma at the Dana-Farber Cancer Institute in Boston, Massachusetts and the Lucy Curci Cancer Center in Rancho Mirage, California. Further clinical trials are planned for 2005, 2006 and 2007. Further information is available on GlycoGenesys' web site: www.glycogenesys.com. Safe Harbor Statement Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, risks of product development (such as failure to demonstrate efficacy or safety), risk related to FDA and other regulatory procedures, market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing, joint ventures and other collaborative relationships, risks relating to raising sufficient capital to fund the Company's operations, developments regarding intellectual property rights and litigation, and other risks identified in the Company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.