Bolder BioTechnology Receives NIH Grant to Develop Second Generation Multiple Sclerosis Drug

Wheat Ridge, Colorado - August 18, 2004 - Bolder BioTechnology, Inc. announced today that it has been awarded a $749,898 Phase II Small Business Innovation Research (SBIR) grant, entitled "Long-Acting Beta Interferon for Multiple Sclerosis", from the National Institute of Neurological Disorders and Stroke (NINDS) of The National Institutes of Health (NIH). Receipt of the entire grant award is contingent upon the achievement of certain research milestones.

George (Joe) Cox, Ph.D., Company President and Principal Investigator for the grant, stated "We are excited to receive continued support from NINDS for our second generation beta interferon program. With a Phase I SBIR grant award from NINDS we demonstrated the feasibility of producing more potent, longer-acting beta interferon analogs. This continuing grant award will be used to optimize a final clinical development candidate and develop an efficient manufacturing process for this product. Recombinant beta interferon products have annual worldwide sales of approximately $3 billion, primarily from use of the drugs to treat multiple sclerosis. However, these first generation products require high doses and are inconvenient to use because they must be injected frequently, typically for the life of the patient. By improving the physiological properties of beta interferon we hope to provide patients with an easier to use, more efficacious product."

The NIH 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.

Bolder BioTechnology, Inc. uses advanced protein engineering technologies to create proprietary human protein pharmaceuticals with enhanced therapeutic properties. 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