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Advanced Magnetics Announces Positive Results from Two Additional,Phase III Studies of Ferumoxytol as an Intravenous Iron Replacement,Therapeutic

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About Ferumoxytol

Ferumoxytol, the company's key product candidate, is being developed for use as an intravenous iron replacement therapeutic for the treatment of iron deficiency anemia in chronic kidney disease. The company plans to file a New Drug Application for marketing approval of ferumoxytol with the U.S. Food and Drug Administration during the fourth calendar quarter of 2007.

About Advanced Magnetics

Advanced Magnetics, Inc. is a developer of superparamagnetic iron oxide nanoparticles used in pharmaceutical products. As a leader in our field, we are dedicated to the development and commercialization of our proprietary nanoparticle technology for use in therapeutic iron compounds to treat anemia, as well as novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease. For more information about Advanced Magnetics, please visit our website at http://www.advancedmagnetics.com, the content of which is not part of this press release.

Forward-looking Statement

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Any statements contained in this press release that do not describe historical facts, including but not limited to, statements regarding the promising nature of the ferumoxytol data presented in this press release, the opinion that these results support an attractive profile for ferumoxytol, the encouraging nature of these results and the timing of the planned submission of the NDA for ferumoxytol in the fourth quarter of calenda
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