American Medical Association Assigns CPT Code to Celsion's Breast Cancer Treatment System.

Business Editors

COLUMBIA, Md.--(BUSINESS WIRE)--July 24, 2003

Celsion Corporation (AMEX:CLN) today announced that the CPT (Current Procedural Terminology) Editorial Panel of the American Medical Association (AMA) has assigned a new CPT code for thermal therapy for ablation/reduction of malignant breast tumors. This new CPT code applies to breast cancer treatment procedures using Celsion's proprietary investigational Adaptive Phased Array (APA) thermal therapy system. The assignment of the new CPT code by the AMA recognizes Celsion's proprietary breast cancer therapy as an emerging technology for the management of breast cancer.

Celsion is currently conducting two pivotal clinical trials in the US and Europe using its APA system in the treatment of breast cancer. The availability of the CPT code during these trials is expected to enhance Celsion's ability to accumulate reimbursement charge data by encouraging investigators to apply for reimbursement for the procedure during the course of the trial. It will also allow Medicare and other third party healthcare insurance carriers to track such charge data and build a database, which will form the basis of a charge profile for physicians using the procedure at such time as the APA system receives final approval from the FDA.

Celsion's investigational APA cancer treatment systems utilize a technology that Celsion has exclusively licensed from the Massachusetts Institute of Technology. Celsion has completed a Phase I and a Phase II dose escalation study using the system to treat breast cancer with promising results. Celsion is currently conducting two pivotal studies with clearly defined commercial end points. In the first Celsion is seeking to demonstrate that treatment with its APA thermal therapy prior to lumpectomy significantly reduces the risk of re-incision relative to traditional lumpectomy. Historically, second incision rates for women undergoing lumpectomy have been as high as 55%. In the second pivotal trial, the APA system is being used in conjunction with chemotherapy in order to downsize the tumors of patients who otherwise would be candidates for mastectomy. The objective is to increase the percentage of women whose tumors can be reduced in size sufficiently to allow breast conserving lumpectomy rather than a mastectomy.

"We are very pleased to have received this endorsement by the American Medical Association. The award of the new CPT code clears the way for reimbursement for our procedure and thus enhances the commercial potential of the product, once approved," said Daniel Reale, President of Celsion's Oncology Division. "Having reimbursement in place should strengthen commercial post approval acceptance and help to make this breast-conserving technology available to the broad population of women afflicted with breast cancer."

The pivotal trials are now in progress. Anyone interested in participating in the trials should call Celsion at 800.262.0394 and ask for Celsion's Medical Director, Dr. William Gannon.

About Celsion: Celsion Corporation, based in Columbia, Maryland, is a research and development company dedicated to commercializing medical treatment systems for cancer and other diseases using focused-heat energy delivered by patented microwave technology.

In January 2003, Celsion entered into a strategic alliance with Boston Scientific Corporation (NYSE:BSX) in which Boston Scientific will initially distribute Celsion's BPH product worldwide. Boston Scientific currently owns approximately 8% of Celsion's outstanding stock.

Celsion has research, license or commercialization agreements with leading institutions such as Duke University Medical Center, Massachusetts Institute of Technology, Harbor UCLA Medical Center, the Center for Breast Surgery at Columbia Hospital in Florida, Montefiore Medical Center and Memorial Sloan-Kettering Cancer Center in New York City, Roswell Park Cancer Institute in Buffalo, New York, and Duke University. For more information on Celsion, visit our website: www.celsion.com.

Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.