Medarex And PharmAthene Announce New Therapeutic Data for Anthrax Anti-Toxin, V...(these forward-looking statements. Risks ...)

Date:10/28/2008

these forward-looking statements. Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company's development programs, the award of government contracts to our competitors, unforeseen safety issues, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, as well as risks detailed from time to time in PharmAthene's Form 10-K under the caption "Risk Factors" and in its other reports filed with the U.S. Securities and Exchange Commission (the "SEC"). In particular, the study described above constitutes non-clinical animal studies. Significant additional non-clinical animal studies, human clinical trials, and manufacturing development work remain to be completed. At this point there can be no assurance that Valortim(R) will be shown to be safe and effective and approved by regulatory authorities for use in humans. Copies of PharmAthene's public disclosure filings are available from its investor relations department and our website under the investor relations tab at http://www.PharmAthene.com.

Medarex(R), the Medarex logo and UltiMAb(R) are registered trademarks of Medarex, Inc. All rights are reserved. Valortim(R) is a trademark of PharmAthene, Inc. All rights are reserved.

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