Healthcare Industry News:  AnorMED 

Biopharmaceuticals Personnel

 News Release - August 8, 2006

Callisto Pharmaceuticals Announces Appointment of Robert C. Shepard, M.D., F.A.C.P., as Chief Medical Officer

NEW YORK, Aug. 8 (HSMN NewsFeed) -- Callisto Pharmaceuticals, Inc. (Amex: KAL ; FWB:CA4), a developer of new drug treatments in the fight against cancer and other major health threats, is pleased to announce the appointment of Robert C. Shepard, M.D., F.A.C.P. as its Chief Medical Officer. Dr. Shepard is Senior Director and Head of US Oncology at i3 Research, and has served as a Medical Director of Clinical Research and Development in oncology at AstraZeneca and as Medical Officer at the oncology branch of CBER at the FDA. His previous experience includes 15 years in clinical research at Harvard, Tufts, Johns Hopkins, and the University of Virginia where he was Principle Investigator for 29 oncology clinical trials and the PI for ECOG.

Dr. Shepard will have primary responsibility for Callisto's clinical activities. Callisto currently has two drugs, Atiprimod and L-Annamycin, in clinical development, and presently has three Phase I/IIa clinical trials under way in multiple myeloma, acute lymphocytic leukemia and advanced cancer patients. The Company recently announced its intention to initiate a Phase II clinical trial of Atiprimod in advanced carcinoid patients.

"We are excited to have Dr. Shepard join the Callisto team," said Dr. Donald Picker, Callisto's Executive Vice President of R&D. "His extensive knowledge of clinical design and the running of clinical trials, especially in hematological cancers and carcinoid tumors, is a perfect fit for us. Dr. Arthur Sytkowski will continue to consult for Callisto as Associate Medical Director focusing on our pediatric clinical trials."

"I am extremely grateful to have the opportunity to work with Callisto's exciting two investigational therapies for hematological cancers and carcinoid tumors. They are both very promising and desperately needed by our patients with these types of cancer. Hopefully, we can get them from the clinic to the bedside quickly to provide a new tool to treat these devastating diseases," said Dr. Shepard.

"Callisto's future is directly tied to the success of our clinical trials," noted Dr. Gary S. Jacob, Callisto's Chief Executive Officer. "We are pleased to have someone of Dr. Shepard's stature overseeing this critical activity."

About Callisto Pharmaceuticals, Inc.

Callisto is a biopharmaceutical company focused on the development of new drugs to treat various forms of cancer and other serious afflictions. Callisto's drug candidates in development currently include anti-cancer agents in clinical development, in addition to drugs for other significant health care markets, including ulcerative colitis and biodefense. One of the Company's lead drug candidates, L-Annamycin, is being developed as a treatment for forms of relapsed acute leukemia, a currently incurable blood cancer. Callisto initiated a clinical trial of L-Annamycin in adult relapsed acute lymphocytic leukemia patients in 4Q 2005. L-Annamycin, a new compound from the anthracycline family of proven anti-cancer drugs, has a novel therapeutic profile, including activity against resistant diseases and significantly reduced cardiotoxicity, or damage to the heart, compared to currently available drug alternatives. Another anti-cancer drug, Atiprimod, is in development to treat relapsed multiple myeloma, a blood cancer, and advanced carcinoid cancer. Atiprimod is presently in Phase I/IIa human clinical trials in relapsed multiple myeloma patients, and advanced cancer patients, respectively. Callisto also has drugs in preclinical development for gastro- intestinal inflammation, and a program focused on the development of a drug to protect against Staphylococcus and Streptococcus biowarfare agents. Callisto has exclusive worldwide licenses from AnorMED Inc. and M.D. Anderson Cancer Center to develop, manufacture, use and sell Atiprimod and L-Annamycin, respectively. Callisto is also listed on the Frankfurt Stock Exchange under the ticker symbol CA4, more information at

Forward-Looking Statements

Certain statements made in this press release are forward-looking. Such statements are indicated by words such as "expect," "should," "anticipate" and similar words indicating uncertainty in facts and figures. Although Callisto believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. As discussed in the Callisto Pharmaceuticals Annual Report on Form 10-K/A for the year ended December 31, 2005, and other periodic reports, as filed with the Securities and Exchange Commission, actual results could differ materially from those projected in the forward-looking statements as a result of the following factors, among others: uncertainties associated with product development, the risk that products that appeared promising in early clinical trials do not demonstrate efficacy in larger-scale clinical trials, the risk that Callisto will not obtain approval to market its products, the risks associated with dependence upon key personnel and the need for additional financing.

Source: Callisto Pharmaceuticals

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