2425 55th Street, Suite 210 Boulder, CO 80301 303-420-4420

The National Cancer Institute Awards Bolder BioTechnology a Phase II SBIR Grant to Continue Development of Novel Anti-Cancer Compound

Boulder, Colorado - November 10, 2006 - Bolder BioTechnology, Inc. today announced that it has been awarded a $775,848 Phase II Small Business Innovation Research (SBIR) grant from the National Cancer Institute of The National Institutes of Health (NIH). The grant will be used to perform preclinical efficacy and pharmacology studies of the company's proprietary long-acting VEGF inhibitor, which is being developed as a potential treatment for a variety of human cancers. Receipt of the entire grant award is contingent upon the achievement of certain research milestones.

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 previously received a $100,000 Phase I SBIR grant award from The National Cancer Institute, which was used to demonstrate the feasibility of producing long-acting, highly potent VEGF inhibitor proteins using the company's targeted PEGylation technology.

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 atwww.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.202