Celsion Treats First Patient in Clinical Trial of Thermodox for Prostate Cancer.

Business Editors/Health/Medical Writers

COLUMBIA, Md.--(BUSINESS WIRE)--May 29, 2003

Celsion Corporation (AMEX:CLN) today announced that it has treated the first patient in its Phase I clinical trial to investigate the use of Thermodox(TM) with focused-heat for the treatment of prostate cancer.

Thermodox(TM), which is the first drug developed by Celsion using its proprietary heat-sensitive liposome, is a compound encapsulating Doxorubicin, a well-established chemotherapeutic drug.

This technology, which is licensed exclusively to Celsion by Duke University, was developed by Dr. David Needham, Professor of the Department of Mechanical Engineering and Material Science at Duke University. In this trial, Celsion's Microfocus(R) BPH800 Urethroplasty(TM) System provides the focused heat required to trigger the release of the Doxorubicin.

The first patient was treated at Regional Urology in Shreveport, LA. In Celsion's recently completed BPH (benign prostatic hyperplasia) pivotal phase II trial, Regional Urology was the largest accruing site.

Dr. David Price, Principal Investigator for the site in the study on prostate cancer, commented, "Physicians in my practice had an excellent experience working with Celsion in the pivotal trial for its BPH technology. What makes the BPH technology intriguing is its potential application in conjunction with Celsion's heat-sensitive liposomes in treating prostate cancer. I'm hopeful that as we gain experience by treating additional patients, we can establish the basis for a new, effective therapy for patients with prostate cancer and its potential usage with other cancers in the future." Dr. Price was an assistant professor at Duke's Medical School for seven years and participated with Dr. Needham in the development of Thermodox(TM).

Celsion's Microfocus(R) BPH800 Urethroplasty(TM) System, which the company is investigating for use in the treatment of BPH, is currently under review for premarketing approval by the FDA. In January Celsion announced a strategic alliance with Boston Scientific Corporation for the distribution of this product.

Dr. Augustine Cheung, Celsion's Chief Executive Officer, said, "This treatment represents another milestone in the process of establishing Celsion's portfolio of cancer therapies. Application of Thermodox(TM) to prostate cancer is the first of what we believe will be multiple trials evaluating its use in the treatment of different types of solid cancer tumors. Moreover, our heat-activated liposome technology provides a platform which may be applied to other drug encapsulations."

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 technology 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 9% 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, Memorial Sloan-Kettering Cancer Center in New York, 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.