Idevus Compound IP 751 Effective in Animal Model of Interstitial Cystitis

Business Wire, March 7, 2005

LEXINGTON, Mass. -- Indevus Pharmaceuticals, Inc. (NASDAQ: IDEV) today announced that a new study conducted at the University of Pittsburgh has shown that administration of IP 751, a novel synthetic cannabinoid, significantly reduces the bladder overactivity observed in an animal model of interstitial cystitis.

IP 751 was tested in a highly-standardized animal model of bladder inflammation and overactivity performed by Dr. Michael Chancellor, Professor of Urology and OBGYN. IP 751 suppressed the overactivity in a dose dependent manner. The highest dose completely reversed the excessive bladder contractility to normal function. In addition IP 751 appeared to have no effect on the normal voiding mechanism of the bladder.

"Interstitial cystitis is a painful and debilitating disease affecting almost a million patients in the United States," said Dr. Chancellor. "Currently, patients with interstitial cystitis have very few treatment options and the development of novel safe and effective medications is a high priority. These preliminary results for IP 751 are very encouraging and have prompted us to aggressively pursue additional testing which we hope will lead to human trials in interstitial cystitis in the near future."

Indevus is developing IP 751 for specialty disease states, including interstitial cystitis, with additional applications in the treatment of pain and inflammation. IP 751 is a non-psychoactive synthetic cannabinoid with significant activity in multiple pre-clinical models of pain and inflammation. Unlike most available NSAIDS, in pre-clinical studies IP 751 does not appear to produce gastrointestinal ulceration. The compound has been tested in a human Phase I study where it was well-tolerated and a Phase II study in patients with neuropathic pain where it was found to be significantly more effective than placebo in achieving pain reduction.

Indevus Pharmaceuticals is a biopharmaceutical company engaged in the acquisition, development and commercialization of products targeting certain medical specialty areas, including urology and infectious diseases. The Company currently markets SANCTURA for overactive bladder and has multiple compounds in clinical development, including pagoclone for stuttering, aminocandin for systemic fungal infections, PRO 2000 for the prevention of infection by HIV and other sexually transmitted pathogens, and IP 751 for pain and inflammatory disorders such as interstitial cystitis.

Except for the descriptions of historical facts contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties are set forth in the Company's filings under the Securities Act of 1933 and the Securities Exchange Act of 1934 under "Risk Factors" and elsewhere, and include, but are not limited to: dependence on the success of SANCTURA(TM) and SANCTURA XR(TM); the early stage of products under development; uncertainties relating to clinical trials, regulatory approval and commercialization of our products, particularly SANCTURA and SANCTURA XR; risks associated with contractual agreements, particularly for the manufacture and co-promotion of SANCTURA and SANCTURA XR; dependence on third parties for manufacturing and marketing; competition; need for additional funds and corporate partners, including for the development of our products; failure to acquire and develop additional product candidates; history of operating losses and expectation of future losses; product liability and insurance uncertainties; risks relating to the Redux-related litigation; limited patent and proprietary rights; dependence on market exclusivity; valuation of our Common Stock; risks related to repayment of debts; risks related to increased leverage; and other risks.