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Millennium and Harvard Medical School Sign Cooperative Agreement for Research in Novel Field of Cancer Biology

- Two Scientific Pioneers Invest in Evolving Field of Protein Homeostasis -

CAMBRIDGE, Mass., Jan. 31 /PRNewswire-FirstCall/ -- Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM) and Harvard Medical School's Office of Technology Development today announced an innovative collaboration agreement to pursue a research program in the area of protein homeostasis, an emerging and expanding field of cancer biology. Under the terms of the agreement, Harvard has granted Millennium a license to certain invention from the laboratory of Professor J. Wade Harper and the two institutions will jointly advance the program in this novel area of research over several years under a sponsored research agreement. Financial terms were not disclosed.

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"Harvard Medical School's research initiatives in protein homeostasis, together with the demonstrated leadership of Millennium in this area, promises to advance our understanding of this important field and its role in regulating cancer cells," said Wade Harper, Ph.D., Bert and Natalie Vallee Professor of Molecular Pathology, Harvard Medical School. "We expect this collaboration to accelerate the important work the lab has accomplished to date."

Research has shown various pathways that regulate cellular protein homeostasis are linked to the pathologic properties of a broad range of cancers. The initial research-based agreement is focused on advancing knowledge in this evolving field over the course of three years.

"Wade Harper's ground-breaking scientific progress in the field of protein homeostasis makes this agreement a natural fit for our Discovery organization," said Joe Bolen, Ph.D., Chief Scientific Officer, Millennium. "Our mutual interest in advancing this promising area of research will provide the opportunity to apply our combined knowledge and expertise and may ultimately lead to a new generation of therapies for patients."

The collaboration further underscores the significant expertise in, and commitment to the field of protein homeostasis at Millennium. VELCADE(R) (bortezomib) for Injection, the market leader for multiple myeloma and mantle cell lymphoma patients, who have received at least one prior therapy, is the first and only marketed proteasome inhibitor. In addition, the Company recently advanced two novel molecules into development that regulate protein homeostasis. MLN4924 is an inhibitor of the Millennium discovered Nedd 8 activating enzyme. MLN4924 acts by inhibiting Cullin based ligases, enzymes involved in the regulation of cancer cell growth and survival. This molecule is expected to enter Phase I clinical trials in early 2008. MLN2238, a second generation proteasome inhibitor, recently was advanced to the development pipeline. MLN2238 has demonstrated impressive properties in preclinical studies that distinguish it from current proteasome inhibitors. This molecule is being developed for both oral and IV routes of administration thereby expanding the potential clinical utility of proteasome inhibitors.

About Millennium

Millennium Pharmaceuticals, Inc., a leading biopharmaceutical company based in Cambridge, Mass., markets VELCADE, a novel cancer product, and has a robust clinical development pipeline of product candidates. The research, development and commercialization activities of Millennium are focused in two therapeutic areas: oncology and inflammation. By applying its knowledge of the human genome, understanding of disease mechanisms and industrialized drug discovery platform, Millennium is developing an exciting pipeline of innovative product candidates. The Millennium Web site is www.millennium.com.

About Harvard University's Office of Technology Development

The Harvard Office of Technology Development (OTD) is responsible for all activities pertaining to the evaluation, patenting and licensing of new inventions and discoveries made at Harvard University and Harvard Medical School. OTD also serves to further the development of Harvard technologies through the establishment of sponsored research collaborations with industry. OTD's mission is to promote the public good by fostering innovation and translating new inventions made at Harvard into useful products available and beneficial to society.

About VELCADE

VELCADE is being co-developed by Millennium Pharmaceuticals, Inc. and Johnson & Johnson Pharmaceutical Research & Development, L.L.C. Millennium is responsible for commercialization of VELCADE in the U.S., Janssen-Cilag is responsible for commercialization in Europe and the rest of the world. Janssen Pharmaceutical K.K. is responsible for commercialization in Japan. For a limited period of time, Millennium and Ortho Biotech Inc. currently co-promote VELCADE in the U.S. VELCADE is approved in 85 countries worldwide. More than 85,000 patients have been treated with VELCADE globally.

In the U.S., VELCADE is indicated for the treatment of patients with multiple myeloma who have received at least one prior therapy. VELCADE is indicated for the treatment of patients with mantle cell lymphoma who have received at least one prior therapy. VELCADE is contraindicated in patients with hypersensitivity to bortezomib, boron, or mannitol. VELCADE should be administered under the supervision of a physician experienced in the use of antineoplastic therapy. In the European Union and many other countries worldwide, VELCADE is approved for patients with multiple myeloma after first relapse.

Risks associated with VELCADE therapy include new or worsening peripheral neuropathy, hypotension observed throughout therapy, cardiac and pulmonary disorders, gastrointestinal adverse events, thrombocytopenia, neutropenia and tumor lysis syndrome. Women of childbearing potential should avoid becoming pregnant while being treated with VELCADE. Cases of severe sensory and motor peripheral neuropathy have been reported. The long-term outcome of peripheral neuropathy has not been studied in mantle cell lymphoma. Acute development or exacerbation of congestive heart failure, and/or new onset of decreased left ventricular ejection fraction has been reported, including reports in patients with few or no risk factors for decreased left ventricular ejection fraction. There have been rare reports of acute diffuse infiltrative pulmonary disease of unknown etiology such as pneumonitis, interstitial pneumonia, lung infiltration and Acute Respiratory Distress Syndrome in patients receiving VELCADE. Some of these events have been fatal. A higher proportion of these events have been reported in Japan. There have been rare reports of Reversible Posterior Leukoencephalopathy Syndrome (RPLS) in patients receiving VELCADE. RPLS is a rare, reversible, neurological disorder which can present with seizure, hypertension, headache, lethargy, confusion, blindness, and other visual and neurological disturbances. VELCADE is associated with thrombocytopenia and neutropenia. There have been reports of gastrointestinal and intracerebral hemorrhage in association with VELCADE. Transfusions may be considered. Complete blood counts (CBC) should be frequently monitored during treatment with VELCADE. Rare cases of acute liver failure have been reported in patients receiving multiple concomitant medications and with serious underlying medical conditions.

Integrated Safety Data: Safety data from phase 2 and 3 studies of single- agent VELCADE 1.3 mg/m2/dose twice weekly for 2 weeks followed by a 10-day rest period in 1163 patients with multiple myeloma (N=1008) and mantle cell lymphoma (N=155) were integrated and tabulated. In these studies, the safety profile of VELCADE was similar in patients with multiple myeloma and mantle cell lymphoma. In the integrated analysis, the most commonly reported adverse events were asthenic conditions (including fatigue, malaise, and weakness) (64%), nausea (55%), diarrhea (52%), constipation (41%), peripheral neuropathy NEC (including peripheral sensory neuropathy and peripheral neuropathy aggravated) (39%), thrombocytopenia and appetite decreased (including anorexia) (each 36%), pyrexia (34%), vomiting (33%), and anemia (29%). Twenty percent (20%) of patients experienced at least 1 episode of .Grade 4 toxicity, most commonly thrombocytopenia (5%) and neutropenia (3%). A total of 50% of patients experienced serious adverse events (SAEs) during the studies. The most commonly reported SAEs included pneumonia (7%), pyrexia (6%), diarrhea (5%), vomiting (4%), and nausea, dehydration, dyspnea and thrombocytopenia (each 3%). Adverse events thought by the investigator to be drug-related and leading to discontinuation occurred in 22% of patients. The reasons for discontinuation included peripheral neuropathy (8%), asthenic conditions (3%) and thrombocytopenia and diarrhea (each 2%). In total, 2% of the patients died and the cause of death was considered by the investigator to be possibly related to study drug: including reports of cardiac arrest, congestive heart failure, respiratory failure, renal failure, pneumonia and sepsis. This integrated analysis does not include the phase 3, VELCADE plus DOXIL study.

For more information about VELCADE clinical trials, patients and physicians can contact the Millennium Medical Product Information Department at 1-866-VELCADE (1-866-835-2233).

This press release contains "forward-looking statements," including statements about the Company's growth and development of products. Various important risks may cause the Company's actual results to differ materially from the results indicated by these forward-looking statements, including: adverse results in its drug discovery and clinical development programs; failure to obtain patent protection for its discoveries; commercial limitations imposed by patents owned or controlled by third parties; the Company's dependence upon strategic alliance partners to develop and commercialize products and services based on its work; difficulties or delays in obtaining regulatory approvals to market products and services resulting from its development efforts; product withdrawals; competitive factors; difficulties or delays in manufacturing the Company's products; government and third-party reimbursement rates; the commercial success of VELCADE and INTEGRILIN(R) (eptifibatide) Injection; achieving revenue consistent with internal forecasts; and the requirement for substantial funding to conduct research and development and to expand commercialization activities. For a further list and description of the risks and uncertainties the Company faces, see the reports it has filed with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.

Editors' Note: This press release is also available under the Media section of the Company's website at: www.millennium.com.

SOURCE Millennium Pharmaceuticals, Inc. CONTACT: Media, Jennifer Snyder, +1-617-444-1439, or Investors, Kyle
Kuvalanka, +1-617-761-4734, both of Millennium Pharmaceuticals, Inc./