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Bioenvision Shareholders Approve Acquisition by Genzyme Corporation
Date:10/22/2007

CAMBRIDGE, Mass., and NEW YORK, Oct. 22 /PRNewswire-FirstCall/ -- Genzyme Corporation (Nasdaq: GENZ) and Bioenvision, Inc. (Nasdaq: BIVN) announced this afternoon that Bioenvision stockholders have voted to approve the acquisition of the company by Genzyme at a reconvened special shareholder meeting in New York. The transaction will be effective tomorrow. Bioenvision shares have now ceased trading and the company will be delisted from Nasdaq.

Fifty-six percent of Bioenvision's issued and outstanding shares of common stock and preferred stock, voting together as a single class on an as converted basis, supported the merger. This represents approximately 67 percent of the total shares voted.

With its acquisition of Bioenvision, Genzyme takes a significant step in enhancing its existing oncology business by gaining the exclusive, worldwide rights to clofarabine.

"We are very pleased that Bioenvision shareholders voted to support this merger," stated Mark J. Enyedy, president of Genzyme Oncology, a business unit of Genzyme Corporation. "We are deeply committed to furthering the clinical development of clofarabine and making it available on a global basis so that patients around the world with these very difficult forms of cancer will have access to the therapy. The successful completion of this acquisition creates the platform on which we will continue to build an international commercial presence for our oncology business."

Genzyme acquires Bioenvision in
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SOURCE Genzyme Corporation
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