Bolder BioTechnology Receives NIH Grant to Develop Second Generation Infection Fighting Protein

Wheatridge, Colorado - May 18, 2005 - Bolder BioTechnology, Inc. today announced that it has been awarded a $99,000 Phase I Small Business Innovation Research (SBIR) grant from the National Institute of Allergy and Infectious Diseases (NIAID) of The National Institutes of Health. The grant supports research to improve the pharmacological properties of a human protein, gamma interferon, to enhance its ability to stimulate the body's immune system to fight infections. The optimized gamma interferon protein may prove useful for the treatment of viral infections, immunodeficiencies and various cancers.

The SBIR program is a peer-reviewed grant program that provides research support to small businesses to discover and develop innovative biomedical products for the treatment of serious unmet medical needs. Companies that successfully meet the goals of the Phase I grant are eligible to apply for an additional $750,000 in Phase II grant support to continue their product development efforts.

Bolder BioTechnology, Inc. uses advanced protein engineering technologies to create proprietary, long-acting human protein pharmaceuticals for the treatment of hematopoietic and endocrine disorders, cancer and infectious diseases. For additional information about Bolder BioTechnology, Inc., please visit our web site at www.bolderbio.com.

Statements contained herein that are not historical facts are forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company. These factors include, but are not limited to: (1) the Company's ability to successfully complete product research and development, including pre-clinical and clinical studies, and commercialization; (2) the Company's ability to obtain required government approvals; (3) the Company's ability to attract and/or maintain manufacturing, sales, distribution and marketing partners; and (4) the Company's ability to develop and commercialize its products before its competitors.

Contact information:          Joe Cox, Ph.D., President          (303) 420-4420 ext.101