Insmed Announces First Quarter 2008 Financi...( RICHMOND Va. May 8 /- Insmed Inc....)

RICHMOND, Va., May 8 /PRNewswire-FirstCall/ -- Insmed Inc. (Nasdaq: INSM), a developer of follow-on biologics (FOB) and biopharmaceuticals, today reported results for the first quarter ended March 31, 2008.

Recent Company Highlights

-- Follow-on Biologics Program

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

Healthcare products Regulatory Agency to initiate a clinical trial

for Insmed's most advanced FOB candidate, INS-19 (Granulocyte Colony

Stimulating Factor or G-CSF), a FOB of the FDA-approved product

Neupogen(R), which had U.S. sales of approximately $0.9 billion in

2007;

-- Received and completed questionnaire from the Chairman and Ranking

Member of the U.S. House of Representatives' Subcommittee on Health

on the possible development of legislation to establish a FOB

regulatory pathway and;

-- Participated in two FOB-focused events: the Center for Business

Intelligence's "Evaluate the Legislative, Economic and Scientific

Implications of the Industry Debate on: Biosimilars and Follow-On

Biologics", and the American Enterprise Institute Follow-On

Biologics Program.

-- IPLEX(TM)

-- All sites have been initiated, received Investigational Review Board

approvals and are actively recruiting trial participants in the

Phase 2 clinical trial for IPLEX(TM) in Myotonic Muscular Dystrophy

("MMD"). The trial presently has 50% of the required 60 patients

enrolled and:

-- Received $2.3 million in cost recovery revenue in the first quarter

related to the expanded access program ("EAP") for IPLEX(TM) in

Italy to treat patients with Amyotrophic Lateral Sclerosis ("ALS"),

also known as Lou Gehrig's Disease. The EAP currently includes 20

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