Bolder BioTechnology's Cancer Research Programs Receive Funding From The National Cancer Institute

Wheat Ridge, Colorado - September 1, 2004 - Bolder BioTechnology, Inc. announced today that it has been awarded two Small Business Innovation Research (SBIR) grants from the National Cancer Institute of the National Institutes of Health (NIH). One grant award for $819,961 is a Phase II SBIR grant entitled "Long Acting Endostatin for Treating Cancer." The second grant award is a $100,000 Phase I SBIR grant entitled "Long Acting VEGF Binding Proteins for Treating Cancer." Receipt of the entire Phase II grant award is contingent upon the achievement of certain research milestones.

Mary S. Rosendahl, Ph.D., Senior Scientist and Principal Investigator for the grants, stated, "The concept of using drugs that inhibit formation of new blood vessels (anti-angiogenesis compounds) to 'starve' cancer cells of nutrients and slow tumor growth has been validated recently as a valuable new treatment option for cancer patients. These two SBIR grant awards reflect the scientific progress we have made in this exciting area and will significantly expand our anti-angiogenesis research efforts. Funds provided by the grants will be used to optimize two human proteins with anti-angiogenesis properties and measure efficacy of the modified proteins in preclinical cancer models."

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 may be 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