Genaera Corporation's 2008 Annual Stockholder Meeti...( PLYMOUTH MEETING Pa. May 30 /- Ge...),Health

PLYMOUTH MEETING, Pa., May 30 /PRNewswire-FirstCall/ -- Genaera Corporation (Nasdaq: GENR) today announced the results of its Annual Meeting of Stockholders held on May 29, 2008. Proxies representing a majority of the shares voted at the Annual Meeting were cast in favor of the resolutions brought before the stockholders.

As a result, at the meeting:

-- John L. Armstrong, Jr., R. Frank Ecock, Zola P. Horovitz, Ph.D.,

Mitchell D. Kaye, Osagie O. Imasogie and Robert F. Shapiro were all

re-elected to the Company's Board of Directors;

-- Genaera's 2004 Stock-Based Incentive Compensation Plan was amended to

provide for an increased number of shares issuable thereunder; and

-- KPMG LLP was appointed as the Company's independent registered public

accounting firm for the fiscal year ending December 31, 2008.

About Genaera

Genaera Corporation is focused on advancing the science and treatment of metabolic diseases. The Company has significant market opportunities with a first-in-class molecule, trodusquemine (MSI-1436), that has the potential to redefine the treatment paradigm for obesity and type 2 diabetes and is presently in a phase 1 trial in obesity. In addition, Genaera has a value-driven, fully out-licensed partnership with MedImmune, Inc. for a second core program that is presently undergoing phase 2 clinical testing in asthma. Genaera is committed to directing resources to its core program and the aggressive clinical development of its key assets to build stockholder value. For further information, please see our website at http://www.genaera.com.

This announcement contains forward-looking statements w
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