GLGS Glycogenesys Inc. (MM)

GlycoGenesys, Inc., (Nasdaq: GLGS), a biotechnology company developing carbohydrate-based drugs, today announced that the U.S. Patent and Trademark Office has issued a patent protecting the use of the Company's drug candidate GCS-100 and other modified pectins to control angiogenesis (the process by which new blood vessels are formed) and to treat angiogenesis-dependent diseases. Angiogenesis plays an important role in cancer where GCS-100 is currently being tested, as well as, macular degeneration, endometriosis and many other diseases which rely on the formation of new vasculature. Management's Comments Bradley J Carver, the Company's CEO and President stated, "Pre-clinical studies have shown that GCS-100 and other modified pectins covered by our new patent can inhibit angiogenesis. This is important as it provides potential for the use of GCS-100 and other modified pectins not only in the treatment of cancer, which is the primary focus of our clinical trials, but also in diseases outside of cancer. We are quite pleased by the addition of this patent to the Company's already broad patent portfolio around GCS-100 and other carbohydrates." The Patent The U.S. patent office issued Patent No. 6,890,906 "Method for controlling angiogenesis in animals" which covers the use of GCS-100 and other modified pectins to control angiogenesis and to treat diseases in which angiogenesis plays a role in humans and other animals. GlycoGenesys, Inc. GlycoGenesys, Inc. is a biotechnology company focused on carbohydrate-based drug development. The Company currently is conducting a Phase I dose escalation trial of GCS-100LE, a unique compound to treat cancer, in patients with solid tumors at Sharp Memorial Hospital, Clinical Oncology Research in San Diego, California and the Arizona Cancer Center at Tucson and at Scottsdale, Arizona. In addition, the Company is conducting a Phase I/II dose escalation trial of GCS- 100LE in multiple myeloma at the Dana-Farber Cancer Institute in Boston, Massachusetts. Further clinical trials are planned for 2005. The Company's headquarters are located in Boston, Massachusetts with a laboratory in Cambridge, Massachusetts. Additional 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, the results of financing efforts, 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.