Cancer Patients Injected With Pro-Pharmaceuticals' DAVANAT in Phase I Clinical Trial At Howell, New Jersey Oncology Clinic.

Business Editors & Health/Medical Writers

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NEWTON, Mass.--(BUSINESS WIRE)--Feb. 14, 2003

Pro-Pharmaceuticals, Inc. (OTCBB:PROH), a developer of anti-cancer drugs, today announced the dosing of patients in Phase I clinical trial of its DAVANAT(TM) product candidate. The patients were treated at the oncology practice of Dr. Kenneth Nahum, in Howell, New Jersey. He is the Principal Investigator at this site. This clinical trial is part of a multi-center, open-label study in cancer patients with solid tumors who have failed standard surgical, radiation and chemotherapeutic regimens.

Pro-Pharmaceuticals' Phase I clinical trial of its DAVANAT combination with 5-Fluorouracil (5-FU) was approved as an Investigational New Drug Application by the FDA last year. The DAVANAT-enhanced 5-FU was shown in pre-clinical studies to improve the drug's anti-cancer effectiveness, while significantly reducing its toxicity.

Pro-Pharmaceuticals., Inc. -- Advancing Drugs Through Glycoscience(TM)

Pro-Pharmaceuticals is a drug development company commercializing a new generation of anti-cancer treatments using carbohydrate molecules to significantly upgrade the safety and efficacy of anti-cancer agents. The Company is a leader in the use of structure-based drug design, an approach to drug discovery that integrates advanced biology and chemistry. Trading under the symbol PROH.OB, the company is headquartered in Newton, Mass. and was founded in 2000. Additional information is available at www.pro-pharmaceuticals.com.

FORWARD LOOKING STATEMENTS: Any statements in this press release about future expectations, plans and prospects for the Company, including statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward looking statements. A number of important factors could cause actual results to differ materially from those indicated by such forward-looking statements, including: uncertainties regarding the Company's ability to obtain anticipated funding from private and public sources, to successfully develop, manufacture and market commercial products, and to secure anticipated orders; the risk that a robust market may not develop for the Company's products; the risk that the Company's product candidates may not succeed in clinical trials; the risk that the Company does not receive the required regulatory approvals; the risk that strategic alliances and other contracts may be terminated; the risk that certain technologies utilized by the company will infringe intellectual property rights of others; competition encountered by the Company from firms around the globe; the amount and timing of the Company's future cash requirements and the availability of satisfactory financing sources. Reference is made to these and other factors discussed in the "Plan of Operations" section of the Company's most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this release. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date this press release is issued.

DAVANAT, DAVANAT-1 and "Advancing Drugs Through Glycoscience" are trademarks of Pro-Pharmaceuticals, Inc.