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Infinity and MedImmune to Present Preclinical Data From Study of,Oral Formulation of IPI-504 At AACR

ch that patients become resistant to these agents. EGFR is a highly-sensitive client protein of Hsp90, suggesting that inhibition of Hsp90 in NSCLC is an attractive area for clinical study.

About Infinity -- MedImmune Collaboration

In August 2006, Infinity and MedImmune entered into an agreement to jointly develop and commercialize novel small molecule cancer drugs targeting Hsp90 and the Hedgehog cell-signaling pathway. The collaboration is focused on inhibitors of Hsp90, including IPI-504 which is in Phase I/II clinical trials, as well as next-generation oral versions of IPI-504, and a series of molecules targeting the Hedgehog cell signaling pathway.

About Infinity Pharmaceuticals, Inc.

Infinity is an innovative cancer drug discovery and development company that is seeking to leverage its strength in small molecule drug technologies to discover, develop, and deliver to patients best-in-class medicines for the treatment of cancer and related conditions. For more information on Infinity, please refer to the company's website at http://www.ipi.com.

About MedImmune, Inc.

MedImmune strives to provide better medicines to patients, new medical options for physicians, rewarding careers to employees, and increased value to shareholders. Dedicated to advancing science and medicine to help people live better lives, the company is focused on the areas of infectious diseases, cancer and inflammatory diseases. With more than 2,500 employees worldwide, MedImmune is headquartered in Maryland. For more information, visit the company's website at http://www.medimmune.com.

Gleevec(r), Tarceva(r) and Iressa(r) are registered trademarks of Novartis Pharmaceuticals Corporation, OSI Pharmaceuticals, Inc., and AstraZeneca, respectively.

-0- CONTACT: Infinity Pharmaceuticals, Inc. Investors and Media Monique Allaire 617-453-11
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