AVRX Avalon Pharmaceuticals (MM)

Avalon Pharmaceuticals, Inc. (Nasdaq: AVRX), announced today that it has used AvalonRx�, its biomarker based drug discovery system, to identify small molecule inhibitors of the Aurora/Centrosome pathway, and to reveal the protein targeted by these compounds. Their findings were announced today in a poster presentation entitled �Identification of Small Molecule Inhibitors of the Aurora/Centrosome Pathway,� at the American Association for Cancer Research 2008 Annual Meeting, in San Diego, CA. These inhibitors potently induce death in cancer cells and inhibit the Polo-Like Kinase 3 (PLK3) protein, a key node in the centrosome pathway. The Aurora/Centrosome pathway is critical for control of cellular growth and chromosomal integrity in cancer cells, and is frequently misregulated in cancer. �The Aurora/Centrosome pathway is important in many cancers; therefore, we believe that the identification of these allosteric inhibitors of the PLK3 protein is a significant advancement in the development of potential therapeutics for cancer,� said Dr. Stephen Horrigan, Avalon�s Vice President of Research. Compounds in Avalon's lead small molecule series have broad activity in cell lines from multiple cancers, while acting as selective allosteric inhibitors of the PLK3 protein. PLK3 has been recognized as a key regulator of cancer cell function whose activation has been implicated in multiple cancer types, including breast, lung and stomach. About Avalon Pharmaceuticals Avalon is a biopharmaceutical company focused on the discovery, development and commercialization of first-in-class cancer therapeutics. Avalon�s lead product candidate, AVN944,�an IMPDH inhibitor, is in Phase II clinical development. Avalon also has preclinical programs to develop inhibitors of the Beta-catenin and Aurora/Centrosome pathways,�discovery programs�for�inhibitors of�the Survivin�and Myc�pathways and partnerships with Merck, AstraZeneca/MedImmune, ChemDiv, Medarex, and Novartis. AvalonRx� is the Company�s proprietary platform�which is based on�large-scale�biomarker identification and monitoring, used to discover and develop therapeutics for pathways that have historically been characterized as "undruggable." Avalon is headquartered in Germantown, MD. Safe Harbor Statement This announcement contains, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect the current views of Avalon management and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, risks and uncertainties, including those specified under the �Risk Factors� section of our 2007 Annual Report on Form 10-K and updates contained in subsequent filings we make with the Securities and Exchange Commission.