Entelos Issues Shares Related to Iconix Biosciences, Inc. Acquisition

    


Entelos Inc.

Entelos, Inc. (LSE: ENTL) announces today that it has issued a total of 748,176
shares to former shareholders of Iconix Biosciences, Inc. ("Iconix") pursuant to
the merger agreement entered into between Entelos and Iconix in August 2007.
These shares were withheld from the original closing consideration and were to
be used to satisfy any undisclosed claims arising for the one year period
post-closing. No claims have arisen.

These shares may only be transferred by the recipients thereof in compliance
with relevant United States securities laws. Such shares may, therefore, be
subject to certain holding periods or other restrictions which may limit their
transferability.

The merger agreement also provided for a potential maximum earn out payment of
$25 million in Entelos stock if certain financial milestones are achieved during
the first year post-closing. In connection with this potential earn out payment,
the Company issued 7,935,328 Entelos shares into an escrow account on 6
September 2007. Any escrow shares not issued to former Iconix shareholders as
earn out consideration will be returned to the Company and cancelled. The
parties to the agreement have 35 business days from 31 August 2008 to complete
the calculation for the earn out shares. Earn out shares, if any, will be
subject to a six-month lock up from the date of issue.

An application will be made for the 748,176 newly issued Entelos shares to be
admitted to AIM on 9 October 2008. Entelos expects to make an announcement in
due course of the exact number of shares to be issued related to the potential
earn out once that calculation is completed.

Accordingly, as at the date of this announcement, Entelos' current issued share
capital comprises 77,497,215 ordinary shares, of which 7,935,328 are held in
escrow as referred to above.

Enquiries

Entelos, Inc.
Alan Blazei, Chief Financial Officer                   Tel: +1-650-572-5400
Jill Fujisaki, Vice President, Investor Relations

KBC Peel Hunt, Ltd (Nominated Advisor and Broker)
Capel Irwin/David Anderson                             Tel +44 (0) 20 4718 8900

Buchanan Communications
Lisa Baderoon                                          Tel +44 (0) 20 7466 5000
Mary-Jane Johnson

About Entelos

Entelos, Inc. (www.entelos.com) is a US-based life sciences company applying
next-generation predictive technologies to revolutionize the way medicines are
discovered, developed, and utilized. The Company leverages its proprietary in
silico disease models, "virtual human" technology, and toxicology reference
systems to develop safer and more effective drugs, improve the quality of
health-related consumer products, and deliver on the promise of personalized
medicine. Entelos provides customized products, technology and research services
to global pharmaceutical, health-care, and consumer products companies in safety
testing, arthritis, cardiovascular diseases, asthma, obesity, diabetes,
hematopoeisis (anemia), cholesterol metabolism, skin sensitization, and personal
care products.

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