Aronex Pharmaceuticals Announces Its Selection as a Presenter At Second Annual Texas Biotechnology Conference.

THE WOODLANDS, Texas--(BUSINESS WIRE)--March 1, 1999--Aronex Pharmaceuticals Inc. (Nasdaq:ARNX) today announced that it has been selected to be a presenting company at the Second Annual Texas Biomedical Investment Conference on March 1-2, 1999 in Houston, Texas at the Omni Houston Hotel. The conference showcases more than 20 of the Texas Gulf Region's leading life science companies.

"We are honored to have been selected to present at this distinguished conference," said Geoffrey F. Cox, Chairman and CEO of Aronex Pharmaceuticals. "Aronex Pharmaceuticals had a very successful 1998, announcing that we had delivered on three major milestones for our two late-stage clinical products, ATRAGEN(R) and NYOTRAN(R). This is a wonderful opportunity to share our dynamic story with the investment community."

In December 1998, the Company submitted a New Drug Application for ATRAGEN(R) (an injectable form of all-trans retinoic acid or tretinoin) for the treatment of patients with acute promyelocytic leukemia for whom therapy with tretinoin is necessary but for whom an intravenous administration is required. This submission was recently accepted for review by the United States Food and Drug Administration.

In November 1998, Abbott Laboratories licensed the worldwide rights to NYOTRAN(R), with a potential value of $40 million plus royalties. Aronex Pharmaceuticals retains the opportunity for co-promotion rights in North America. In late 1998, the Company completed patient enrollment and treatment in the Phase III multi-center empiric comparative trials. The Company anticipates submitting an NDA for this product in 1999.

The Texas Biomedical Investment Conference is designed to provide an opportunity for the national investment community to learn more about the Texas Gulf region's biomedical companies through both formal presentations and informal interactions.

Aronex Pharmaceuticals Inc. is a biopharmaceutical company that develops and commercializes proprietary innovative medicines to treat cancer and infectious diseases. Aronex Pharmaceuticals currently has five products in clinical development, two of which are in an advanced stage, as well as a pipeline of additional products.

Any statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights and litigation, clinical trials, governmental regulation, competitive products, risks in product and technology development, the ability to raise additional capital when needed and on acceptable terms, and other risks identified in the Company's Securities and Exchange Commission filings.