New Anti-Fungal Drug

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February 25, 2004 09:04 AM US Eastern Timezone

Indevus Initiates Phase I Clinical Trial of Aminocandin for Systemic

Fungal Infections

LEXINGTON, Mass.--(BUSINESS WIRE)--Feb. 25, 2004--Indevus

Pharmaceuticals, Inc. (NASDAQ: IDEV) today announced the initiation

of a Phase I clinical trial with aminocandin, a member of a new class

of anti-fungal compounds under development for the treatment of a

broad spectrum of systemic, invasive infections. This trial will test

the safety and tolerability of escalating single doses of aminocandin

administered intravenously in healthy volunteers. Results of the

trial are expected in the second half of 2004.

" This trial will build upon an extensive pre-clinical dossier on

aminocandin compiled by Aventis SA, from whom Indevus licensed

exclusive worldwide rights to this compound in 2003, " said Glenn L.

, M.D., chairman, president and chief executive officer of

Indevus. " Findings will determine the safety of intravenously

administered aminocandin in humans. In vitro and animal studies with

aminocandin have demonstrated activity against a broad range of fungi

and the ability to protect against systemic fungal infections in an

immune-compromised host. We also believe aminocandin has the

potential to be administered orally, and we have initiated

feasibility studies related to the development of an oral

formulation. "

Echinocandins are the first new class of anti-fungal agents to be

developed and introduced in more than 40 years. They are designed to

be fungicidal, that is, to destroy fungi, rather than simply to

inhibit their growth, and to have broad-spectrum activity against the

fungi that cause serious systemic infections.

According to reports from Datamonitor, Inc., an industry market

research firm, the worldwide market for anti-fungal agents is

currently valued in excess of $4 billion, of which approximately $2.5

billion relates to systemic, invasive fungal infections, and is

projected to grow to $6.5 billion by 2008, of which approximately one-

half is predicted to represent systemic infections.

Indevus Pharmaceuticals is a biopharmaceutical company engaged in the

development and commercialization of a diversified portfolio of

pharmaceutical product candidates, including multiple compounds in

development: trospium for overactive bladder, pagoclone for panic and

generalized anxiety disorders, citicoline for ischemic stroke, IP 751

for pain and inflammatory disorders, PRO 2000 for the prevention of

infection by HIV and other sexually transmitted pathogens and

aminocandin for systemic fungal infections.

Except for the descriptions of historical facts contained herein,

this press release contains forward-looking statements that involve

risks and uncertainties that could cause the Company's actual results

and financial condition to differ materially from those anticipated

by the forward-looking statements. These risks and uncertainties are

set forth in the Company's filings under the Securities Act of 1933

and the Securities Exchange Act of 1934 under " Risk Factors " and

elsewhere, and include, but are not limited to: dependence on the

success of trospium; the early stage of products under development;

uncertainties relating to clinical trials, regulatory approval and

commercialization of our products, particularly trospium; risks

associated with contractual agreements; dependence on third parties

for manufacturing and marketing; competition; need for additional

funds and corporate partners, including for the commercialization of

trospium and for the development of pagoclone; failure to acquire and

develop additional product candidates; history of operating losses

and expectation of future losses; product liability and insurance

uncertainties; risks relating to the Redux-related litigation;

limited patent and proprietary rights; dependence on market

exclusivity; valuation of our Common Stock; risks related to

repayment of debts; risks related to increased leverage; and other

risks.