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IDM Pharma Announces Termination of UVIDEM Development Collaboration and Expected Restructuring in Connection With Evaluation of Strategic Alternatives
Date:12/31/2007

IRVINE, Calif., Dec. 31 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. (Nasdaq: IDMI) today announced that as part of the Company's recent decision to evaluate strategic alternatives, the Company initiated discussions with sanofi-aventis. Following this, sanofi-aventis has notified the Company of its decision to discontinue participation in the development of UVIDEM, its investigational therapy being studied for the treatment of melanoma, with all rights to the product reverting to the Company.

In connection with this decision, the Company announced it expects to restructure, which it anticipates will involve staff reductions in the Company's workforce and a review of the assets and costs associated with products under development. The Company's restructuring plan is expected to be finalized and approved by the Company's Board of Directors during the first quarter of 2008. The Company expects to retain a core team in key functional areas and, as part of the Company's previously announced strategic initiatives, will continue to evaluate the UVIDEM clinical program, which recently completed Phase 2 studies with promising results.

The Company believes that these decisions have the following potential benefits:

-- IDM Pharma now has full rights to its product candidates including

mifamurtide (L-MTP-PE), IDM-2101 and UVIDEM

-- The anticipated restructuring is expected to enable the Company to

significantly reduce its infrastructure and operating expenses

-- The restructured company may be a more attractive partner in any

potential strategic transaction going forward

"These decisions provide the company with increased flexibility in our assessment of strategic options
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SOURCE IDM Pharma, Inc.
Copyright©2007 PR Newswire.
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