Nuvelo, Inc. (Nasdaq: NUVO) today announced the publication of data from a preclinical study of novel monoclonal antibodies against the cell-surface protein NTB-A. The data demonstrate that NTB-A is a potential new target for immunotherapy of B-cell malignancies including leukemia and lymphomas. The study, entitled "The lymphoid cell surface receptor NTB-A: a novel monoclonal antibody target for leukemia and lymphoma therapeutics," appears in the May issue of British Journal of Haematology.

Leukemia and lymphomas are malignancies of lymphoid cells. Monoclonal antibodies, in addition to chemotherapy, have been shown to be effective in eliminating lymphocytes in leukemia and lymphoma patients (1,2,3,4). However, a significant number of patients relapse after initial responses and eventually become resistant to existing therapies.

"The development of new antibody therapeutics is an important area of study as leukemia and lymphoma patients need more treatment options. This study not only lays the scientific foundation for continued NTB-A target and antibody development, but it also validates the focus of our cancer antibody research and moves us closer to identifying a lead candidate from this program," said Walter Funk, Ph.D., vice president of research for Nuvelo. "In addition to pursuing the NTB-A target, we are also studying other monoclonal antibody targets in blood cell malignancies and solid tumor cancers, and have established collaborations with leading clinical centers that support our ongoing preclinical program."

NTB-A is a CD2-related cell surface protein expressed primarily on lymphoid cells including B-lymphocytes from chronic lymphocytic leukemia (CLL) and lymphoma patients. Nuvelo has generated a series of monoclonal antibodies against NTB-A and assessed their therapeutic potential for treating CLL and lymphoma through preclinical trials.

(1) Byrd, J.C., Stilgenbauer, S. & Flinn, I.W. (2004) Chronic lymphocytic leukemia. Hematology (American Society of Hematology Education Program), 1, 163-183.

(2) Kokhaei, P., Palma, M., Mellstedt, H. & Choudhury, A. (2005) Biology and treatment of chronic lymphocytic leukemia. Annals of Oncology, 16(Suppl. 2), ii113-123.

(3) Kuriakose, P. (2005) Targeted therapy for hematologic malignancies. Cancer Control, 12, 82-90.

(4) Ortin, M. (2005) Immunotherapy of hematological malignancies: what is new Annals of Oncology, 16(Suppl. 2), ii53-62.

About Nuvelo's Cancer Antibody Program

Nuvelo's cancer antibody pipeline includes advanced targets in leukemia and lymphoma, and earlier-stage solid tumor targets in colon, lung and breast cancers. Nuvelo has developed monoclonal antibodies specific to these targets and is testing them in animal models. These models test the ability of antibodies to shrink human tumor tissue growing in immunodeficient mice (xenografts). Nuvelo is continuing to evaluate leading monoclonal antibodies in more advanced preclinical studies, and those that are sufficiently validated in animal models may move into to clinical trials.

About Nuvelo

Nuvelo, Inc. is dedicated to improving the lives of patients through the discovery, development and commercialization of novel drugs for acute cardiovascular and cancer therapy. Nuvelo's development pipeline includes three acute cardiovascular programs: alfimeprase, a direct-acting fibrinolytic for the treatment of thrombotic-related disorders; rNAPc2, an anticoagulant that inhibits the factor VIIa and tissue factor protease complex that completed Phase 2 clinical development in acute coronary syndromes; and preclinical candidate NU172, a direct thrombin inhibitor for use as a short-acting anticoagulant during medical or surgical procedures. Nuvelo is also advancing an emerging oncology pipeline, including rNAPc2 which is in Phase 2 testing for potential use as a cancer therapy, as well as NU206 for the potential treatment of chemotherapy/radiation therapy-induced mucositis and inflammatory bowel disease. In addition, Nuvelo expects to leverage its expertise in secreted proteins and cancer antibody discovery to further expand its pipeline and create additional partnering and licensing opportunities.

This press release contains "forward-looking statements," which include statements regarding the progress of Nuvelo's preclinical cancer antibody program and the potential utility of Nuvelo antibodies to treat particular indications, which statements are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Such statements are based on our management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, uncertainties relating to drug discovery; technological changes, the impact of competitors and competitive technologies; and dependence upon strategic partners for the performance of critical activities under collaborative agreements. These and other factors are identified and described in more detail in Nuvelo filings with the SEC, including without limitation Nuvelo's Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 and subsequent filings. We disclaim any intent or obligation to update these forward-looking statements.

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