AmpliMed Named ''Arizona Bioscience Company of the Year'' and ''Arizona Company to Watch''; Leading Drug Development Company Recognized by Business Associations for Innovation in Bioscience and Contribution to Arizona Economy.

TUCSON, Ariz. -- AmpliMed(R) today announced that the Company has received two awards from Arizona business associations for its outstanding accomplishments and achievements over the past year. At an awards ceremony held on May 31, the cancer drug development company was named "Bioscience Company of the Year" by the Arizona BioIndustry Association (ABA). AmpliMed was also named an "Arizona Company to Watch" by the Arizona Small Business Association (ASBA) during a ceremony on June 1.

AmpliMed was recognized by the ABA for its accomplishments in the research and development of drugs that may make a significant contribution to the treatment of several different types of cancer, including pancreatic cancer, malignant melanoma and multiple myeloma. AmpliMed's drugs have been shown to kill cancer cells in ways which are distinct from many other anti-cancer drugs, and they are being studied alone and in combination with commonly used cancer therapies in several clinical trials. The ASBA honored AmpliMed as a successful, growing second-stage company that is a vital driver of the state's economy. AmpliMed is among 50 local companies recognized for its contribution and innovation in the state.

"On behalf of the Arizona BioIndustry Association, I am pleased to congratulate AmpliMed on its achievement of being named Bioscience Company of the Year for 2006," said Jon McGarity, president and CEO of the Arizona BioIndustry Association. "AmpliMed is an active member of the ABA and we are impressed by its commitment and contribution to the development of the biosciences in the state of Arizona."

"AmpliMed is an outstanding example of a second-stage growth company that is being recognized statewide as an innovator, economic driver and workforce developer," said Charlie O'Dowd, southern director, Arizona Small Business Association.

"The last 12 months have been very significant for our company, as we have made tremendous progress in the clinical development of our lead drug candidate, Amplimexon(R), initiated the clinical study of our second drug, benzimate, and moved other drug candidates in our portfolio closer to clinical trials," said Robert A. Ashley, CEO and president, AmpliMed. "We are honored to be recognized by the Arizona BioIndustry Association and the Arizona Small Business Association."

About the ABA

The Arizona BioIndustry Association is the statewide organization promoting the growth of bioindustry through member services, education, business networking, public policy and entrepreneurial endeavors.

About the ASBA

The Arizona Small Business Association (ASBA) is a non-profit corporation organized to provide services, benefits, information and legislative representation to its members and to contribute to the growth and success of its members' businesses.

About AmpliMed Corporation

AmpliMed Corporation was founded in 1989 with the support of the University of Arizona Technology Development Corporation and is focused on the clinical development of chemotherapeutic agents for cancer. AmpliMed's strategy is to develop anti-cancer drugs with novel mechanisms of action designed to overcome some of the limitations, such as myelosuppression (suppression of blood cell counts), multi-drug resistance (treatment-induced resistance to many cancer drugs) and cardiac toxicity, frequently associated with current cancer therapy. The company's lead product, Amplimexon (imexon inj.), is in Phase II clinical trials. AmpliMed is also conducting a Phase I study of benzimate (oral solution) in patients with advanced refractory cancer. Other products in the company's portfolio include Amplizone(R) (ethonafide inj.), which is expected to enter the clinic in 2007, and a portfolio of derivatives of each of the lead compounds for future development. AmpliMed Corporation is based in Tucson, Arizona and is on the Web at http://www.amplimed.com.

AmpliMed and Amplimexon are United States registered trademarks of AmpliMed Corporation.