Healthcare Industry News:  DAVANAT 

Biopharmaceuticals Oncology

 News Release - February 2, 2006

Pro-Pharmaceuticals Receives 'Compassionate Use' IND for Use of DAVANAT(R)/5-FU to Treat Another Patient with Cholangiocarcinoma

NEWTON, Mass.--(HSMN NewsFeed)--Feb. 2, 2006--Pro-Pharmaceuticals, Inc. (Amex:PRW ), a developer of novel carbohydrate compounds to enhance the treatment of serious diseases, today announced that the U.S. Food & Drug Administration has approved a request for a "compassionate use" Investigational New Drug application for the use of DAVANAT®/5-FU to treat another patient who has cholangiocarcinoma (cancer of the bile duct). DAVANAT® is a proprietary polysaccharide in a CARBOSOME(TM) formation that target delivers chemotherapy drugs to receptors (lectins) found on cancer cells.

Pro-Pharmaceuticals, Inc. - Advancing Drugs Through Glycoscience®

Pro-Pharmaceuticals is developing proprietary carbohydrate-based compounds to enhance the treatment of serious diseases. Initially, the product pipeline is principally focused on increasing the efficacy and decreasing the toxicity of approved chemotherapy drugs. The Company has been conducting clinical studies with 5-FU, leucovorin, irinotecan, doxorubicin, oxaliplatin, paclitaxel, cisplatin, and bevacizumab (AVASTIN®). Results show that DAVANAT® exhibits a broad spectrum of activity with tested drugs. Additional information is available at

FORWARD LOOKING STATEMENTS: Any statements in this news release about future expectations, plans and prospects for the Company, including without limitation statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions, constitute forward-looking statements as defined in the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Because of uncertainties and risks facing the Company, many of which are outside of the Company's control, future events could cause actual results to differ materially from those indicated by such statements. More information about those risks and uncertainties is contained and discussed in the "Management Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's most recent quarterly or annual report and in the Company's other reports filed with the Securities and Exchange Commission. The forward-looking statements herein represent the Company's views as of the date of this news release and should not be relied upon to represent the Company's views as of a subsequent date. While the Company anticipates that subsequent events may cause the Company's views to change, the Company disclaims any obligation to update such forward-looking statements.

DAVANAT and Advancing Drugs Through Glycoscience are registered trademarks of Pro-Pharmaceuticals. CARBOSOME is a trademark of Pro-Pharmaceuticals. AVASTIN is a registered trademark of Genentech, Inc.

Source: Pro-Pharmaceuticals

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