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Panacea Pharmaceuticals' Lung Cancer Diagnostic Test, LC Detect(SM), Named One of Time Magazine's Ten Biggest Medical Breakthroughs of 2007
Date:12/18/2007

th chronic myelogenous leukemia (CML) are sensitive or resistant to imatinib, the therapy of first choice for CML patients, prior to initiation of therapy. The HAAH serum assay will be further developed as a diagnostic test for other types of cancer.

Panacea is also pursuing the development of antibodies directed against HAAH as novel agents for the treatment of cancer with liver cancer as the first therapeutic indication. The Company is exploring both naked anti-HAAH antibodies as well as HAAH antibodies conjugated to chemotherapeutic agents and toxins. PAN-622 is an all-human sequence anti-HAAH monoclonal antibody that has demonstrated excellent efficacy in animals, and is currently in development as a cancer therapeutic.

About Panacea Pharmaceuticals, Inc.

Panacea Pharmaceuticals, Inc. is a privately held biopharmaceutical company focused on the development and commercialization of therapeutics and diagnostics for diseases with substantial, unmet clinical needs. The Company's product development strategy is based on novel therapeutic agents and approaches for cancer treatment, as well as acute and chronic neurodegenerative conditions, such as hypoxia-induced neurological insult, Parkinson's Disease, and Alzheimer's Disease. Panacea has an extensive patent portfolio covering its neurodegenerative and oncology technologies. Panacea Laboratories is a division of Panacea Pharmaceuticals, Inc.

Additional information about the Company is available at http://www.PanaceaPharma.com.

Except for historical information presented in this press release, matters discussed herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are based on the opinions and estimates of management only as of the date of this release and are subject to certain risks and uncertainties that could cause actual r
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