Bristol-Myers Squibb and Millennium Predictive Medicine Establish Unique Pharmacogenomics Alliance in Cancer Treatment

Princeton, N.J., and Cambridge, Mass. (PROTEXT) - Companies Take Bold New Step Toward Personalized Medicine. Bristol- Myers Squibb (NYSE: BMY) and Millennium Predictive Medicine, Inc. (MPMx), a majority-owned subsidiary of Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM), today announced they have entered into a unique alliance in the emerging field of cancer pharmacogenomics. This is the use of genetic information to develop new anticancer therapies to treat specific patient populations or tumor types, or to tailor existing therapies to individual patients. Bristol-Myers Squibb, the world leader in cancer therapies, is collaborating with MPMx, a world leader in the new field of predictive medicine, to apply this exciting new research approach to some of Bristol-Myers Squibb's oncology drugs in development and to marketed products. The Bristol-Myers Squibb/MPMx collaboration is the first integrated application of cancer pharmacogenomics utilizing new medicines and existing therapies. The alliance will coordinate the development of therapeutic products and pharmacogenomic tests. Therapeutic products resulting from this alliance will be brought to market by Bristol-Myers Squibb. Pharmacogenomic tests will be brought to market by one or more leading diagnostics companies, selected by MPMx and Bristol-Myers Squibb. During the five-year term of the alliance, Bristol-Myers Squibb will provide MPMx with $32 million in license fees, annual fees, and research funding. Milestone and royalty payments will be made to MPMx upon the completion of certain milestones. This is believed to be one of the largest pharmacogenomics alliances to date. The goal of the partnership is to identify and validate oncology clinical markers -- genes or proteins -- that can help predict patients' responses to specific cancer treatment regimens and aid the development of new cancer therapies. The clinical markers linked to drug response or tumor types will be identified through the use of both companies' genomics and bioinformatics technology platforms. By integrating clinical markers and genomic technology into the treatment of cancer, therapies could be tailored to individual patients, thereby boosting efficacy and reducing side effects. "Bristol-Myers Squibb is deeply committed to improving cancer treatments for patients and their families," said Peter Ringrose, Ph.D., president, Bristol-Myers Squibb Pharmaceutical Research Institute. "We expect that pharmacogenomics is going to revolutionize the way medicines are developed and prescribed, and our partnership with MPMx moves us closer to the promise of personalized medicine and tailored therapies. Following this initiative in cancer, Bristol-Myers Squibb is committed to applying pharmacogenomics to new medicines and existing therapies across our pipeline in every therapeutic area." "With this alliance, we are continuing to increase the value of MPMx through potential participation in downstream products," said Kenneth Conway, president of MPMx. "We have now begun to execute the second phase of our business strategy by forging a partnership in the area of pharmacogenomics. Through this pharmacogenomic partnership and MPMx's existing alliances, we are pursuing our long-term vision of changing the practice of medicine." "This groundbreaking partnership combines the number one company in oncology therapeutics with the number one company in predictive medicine," said Mark Levin, chief executive officer of Millennium Pharmaceuticals, Inc. "We believe that together, the partnership will change the way oncology is practiced. This is a key demonstration of our downstream evolution towards products and our drive to build the biopharmaceutical company of the future." Millennium Predictive Medicine, Inc., a majority-owned subsidiary of Millennium Pharmaceuticals, Inc., is developing genomic- and proteomic-derived products and services to accelerate and improve the diagnosis, treatment and prediction of disease. Millennium, a leading drug discovery and development company, employs large-scale genetics, genomics, high throughput screening and informatics in an integrated science and technology platform. This innovative drug discovery platform is applied across the entire healthcare sector, from gene identification through patient management, to accelerate and transform the discovery and development of proprietary therapeutic and Diagnomics(TM) products and services. Headquartered in Cambridge, Massachusetts, Millennium and its affiliates currently employ more than 850 people. Bristol-Myers Squibb is a diversified, worldwide health and personal care company whose principal businesses are pharmaceuticals, consumer medicines, beauty care, nutritionals, and medical devices. It is a leading maker of innovative therapies for cardiovascular, metabolic, and infectious diseases, central nervous and dermatological disorders, and cancer. The company is a leader in consumer medicines, orthopaedic devices, ostomy care, wound management, nutritional supplements, infant formulas, and hair and skin care products. This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from those indicated in such forward looking statements include uncertainties relating to gene identification, drug discovery and clinical development processes; Millennium's ability to successfully integrate the operations of LeukoSite, Inc.; changes in relationships with strategic partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements; the impact of competitive products and technological changes; uncertainties relating to patent protection and regulatory approval; and uncertainties relating to the ability of Millennium and its affiliates to obtain the substantial additional funds required for progress in drug discovery and development. The factors that could affect the performance of Millennium are more fully described in filings by Millennium with the Securities and Exchange Commission including but not limited to the factors set forth under the heading "Business - Factors That May Affect Results" in the Annual Report on Form 10-K of Millennium for the year ended December 31, 1998 as filed on March 24, 1999. Note: This release is available on Millennium's home page at: http://www.mlnm.com Visit Bristol-Myers Squibb on the World Wide Web at: http://www.bms.com. ots Original Text Service: Bristol-Myers Squibb Company & Millennium Pharmaceuticals, Inc. Internet: http://www.newsaktuell.de Contact: William Dunnett of Bristol- Myers Squibb, (USA)609-252-3369, or william.dunnett@bms.com; or Clare Midgley, (USA) 617-679-7480, or Sally McCraven, (USA) 617- 577-3548, or mccraven@mpi.com, both of Millennium Pharmaceuticals Company News On-Call: Bristol-Myers Squibb press releases available by fax, (USA) 800-758-5804, ext. BMYFAX, or 269329, or at http://www.prnewswire.com/comp/269329.html Web site: http://www.mlnm.com Web site: http://www.bms.com Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT