Boston Scientific and NitroMed Extend Collaboration on the Development of Nitric Oxide Coated Stents; Companies Extend Development Agreement for Two Years.

Business Editors

BEDFORD, Mass.--(BUSINESS WIRE)--Jan. 8, 2004

NitroMed, Inc. (NASDAQ:NTMD) today announced the extension of an exclusive worldwide research collaboration, licensing and commercialization agreement with Boston Scientific Corporation (NYSE: BSX), for the development of nitric oxide coated stents to complement Boston Scientific's Paclitaxel coated stent. Under the agreement the companies will continue to seek to develop and advance nitric oxide releasing compounds that can be incorporated onto stents to treat a variety of vascular diseases. The contract extension continues the research and development collaboration through 2005 and includes an upfront payment of $3 million to NitroMed. The extension builds on the original agreement executed in 2001 and includes milestone payments in the event specified research, development and commercialization milestones are achieved, as well as royalties on any product sales. Prior to the extension NitroMed received a total of $1.5 million in research and development funding and $4.0 million in equity investments from Boston Scientific.

"Boston Scientific has been a great ally and we are pleased to extend our agreement," said Michael D. Loberg, Ph.D., President and CEO of NitroMed. "We view this as an important validation of our expertise in nitric oxide-enhancing medicines and highlights our strengths in the development of proprietary new classes of drugs. We believe Boston Scientific, a worldwide leader in medical devices, is well positioned to bring our proprietary nitric oxide-releasing compounds to market in a novel application."

NitroMed has demonstrated in a variety of pre-clinical studies that its proprietary stents coated with a nitric oxide donor can significantly reduce restenosis, which is a narrowing or blockage of the artery that occurs after a procedure such as a balloon angioplasty or a stent placement. This narrowing is primarily caused by an exuberant proliferation of cells, which can eventually block the artery and the blood flow. Nitric oxide is a critical component of the artery and is endogenously produced by the endothelium. It has been shown to play a critical role in vascular stasis as well as inhibiting vascular smooth muscle proliferation, platelet adhesion and aggregation, and local inflammation.

About NitroMed

NitroMed is an emerging pharmaceutical company that discovers, develops and seeks to commercialize proprietary pharmaceuticals based on the therapeutic benefits of the naturally occurring molecule nitric oxide. The Company uses its expertise in nitric oxide biology and chemistry in an effort to develop both novel drugs, as well as safer, more effective versions of existing drugs. Research and development efforts focus on major diseases that are characterized by a deficiency in nitric oxide, such as cardiovascular and inflammatory diseases. BiDil(R), the Company's lead product in development, is an orally administered nitric oxide-enhancing medicine being investigated for the treatment of heart failure in African Americans. A late-stage confirmatory trial targeted to enroll 1,100 patients is underway in more than 160 sites throughout the United States. The Association of Black Cardiologists is a joint sponsor of the study. Collaborative partnerships are a key element of the Company's business strategy. NitroMed has agreements with Merck to jointly develop nitric oxide-based COX-2 inhibitors and with Boston Scientific to jointly develop nitric oxide coated cardiovascular stents.

For additional information about NitroMed, please consult the Company's website at www.nitromed.com.

Safe Harbor for NitroMed, Inc.

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements about the Company's plans to develop and advance its nitric-oxide coated stent program with Boston Scientific Corporation and its expectations regarding the successful development of products based upon this program. The Company may, in some cases, use words such as "believes," "anticipates," "plans," "expects," "will," "could," and similar expressions, to identify these forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks relating to: difficulties or delays relating to required regulatory approvals to develop, market and sell the Company's products under development; the Company's ability to successfully complete clinical trials of its products under development; the Company's dependence on corporate collaborators to develop, manufacture, market and sell products based upon its technologies; the Company's failure to obtain or maintain intellectual property protection and required licenses for its technologies and products under development; the Company's ability to obtain the substantial additional funding required to conduct research and development, manufacturing, marketing and sales of its products under development; and other factors discussed in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2003, which has been file with the SEC. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this release. The Company anticipates that subsequent events and developments may cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this release.

About Boston Scientific

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.