ImClone Systems Reports Data on Cancer Therapeutic, C225, at Annual Meeting of the American Society for Therapeutic Radiation and Oncology.

NEW YORK, NY--(BW HealthWire)--October 27, 1998--ImClone Systems Incorporated (NASDAQ: IMCL) today reported data at the annual meeting of the American Society for Therapeutic Radiology and Oncology (ASTRO) for the Company's lead cancer therapeutic, C225, an inhibitor of the epidermal growth factor receptor (EGFr). The data, presented by a research team headed by Francisco Robert, M.D.and Director of the Comprehensive Cancer Center University of Alabama at Birmingham, demonstrates that combination treatment using C225 and radiotherapy resulted in 100 percent tumor regression in 14 of 16ositive potential clinical benefit for patients with head and neck cancer," commented Harlan W. Waksal, M.D.ve shown about a 30 to 40 percent response rate in this patient population, this early data for C225 demonstrates a major response rate of 100 percent in a majority of patients. We hope that Phase III clinical studies will further expand and validate these findings."

ImClone Systems' lead cancer therapeutic, C225, is a monoclonal antibody that inhibits activity of the epidermal growth factor receptor (EGFr) associated with cancer cell growth in squamous cell carcinoma, renal cell carcinoma, pancreatic carcinoma and other solid tumors. Based on trial results reported at this year's ASCO meeting and at this year's ASTRO meeting, the Company is currently finalizing protocols for two separate Phase III studies using C225 in head and neck squamous cell cancers in combination with chemotherapy and in combination with radiation therapy.

ImClone Systems has two oncology products in late stage clinical development and is advancing earlier drug candidates to the clinical stage. In addition to C225, ImClone's other late stage clinical development program is an anti-cancer vaccine, BEC2. ImClone and its corporate partner, Merck KGaA, are initiating a Phase III multinational trial to study BEC2 in small cell lung cancer patients. In preclinical research, the Company is evaluating the therapeutic potential of its anti-FLK-1/KDR monoclonal antibody as an anti-angiogenic agent, especially against tumors known to secrete vascular endothelial growth factor. ImClone Systems Incorporated, headquartered in New York, is a biopharmaceutical company developing novel therapeutic products including interventional therapeutics, cancer vaccines and blood cell growth factors for the treatment of cancer and cancer-related disorders.

Except for the historical information contained herein, the matters discussed in this document may include forward-looking statements. Actual results may differ materially from those predicted in such forward-looking statements due to the risks and uncertainties inherent in the Company's business, including, without limitation, risks and uncertainties in obtaining and maintaining regulatory approval, market acceptance of and continuing demand for the Company's products, the impact of competitive products and pricing, and the Company's ability to obtain additional financing to support its operations. The Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.