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Insmed Announces Financial Results for Third Quarter and Nine-Months Ended September 30, 2008

RICHMOND, Va., Oct. 30 /PRNewswire-FirstCall/ -- Insmed Inc. (Nasdaq: INSM), a developer of follow-on biologics and biopharmaceuticals, today reported results for the third quarter and nine-months ended September 30, 2008.

Recent Company Highlights

-- Follow-on Biologics Program

-- Received approval from the United Kingdom's Medicines and

Healthcare products Regulatory Agency to initiate a Phase I clinical

study for the Company's second follow-on biologic

("FOB") product candidate, INS-20. Insmed's INS-20

is a pegylated recombinant form of human G-CSF, and an FOB of the

FDA-approved product Neulasta(R), which had U.S. sales of

approximately $2.4 billion in 2007.


-- Received $3.0 million in cost recovery revenue in the third quarter

related to the expanded access program ("EAP") for

IPLEX(TM). The EAP in Italy to treat patients with Amyotrophic

Lateral Sclerosis ("ALS"), also known as Lou Gehrig's

Disease, currently includes 23 physicians and over 100 subjects have


-- Announced the presentation of clinical study results with Premacure

demonstrating IPLEX(TM) increased serum IGF-I levels into the normal

range in significantly premature infants. Premacure is developing

IPLEX(TM) as a potential treatment for Retinopathy of Prematurity

("ROP") via a Material Transfer Agreement with Insmed.

Based in part on the results of this study, Premacure intends to

initiate a phase II multicenter trial in the ROP indication during

the fourth quarter.

"We continue to execute on our business plan and efficiently advance each of our key clinical programs," said Dr. Geoffrey Allan, President and CEO of Insmed. "Our second FOB ca

SOURCE Insmed Inc.
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