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Innovive Pharmaceuticals to Present Interim Data from Phase I Study,of INNO-406 at the American Society of Clinical Oncology Annual,Meeting

NEW YORK--(BUSINESS WIRE)--May 30, 2007 - INNOVIVE Pharmaceuticals, Inc. (OTCBB: IVPH) today announced that interim data from a Phase I trial of INNO-406, an orally bioavailable dual Bcr-Abl and Lyn-kinase inhibitor for Gleevec(R)-resistant or treatment-intolerant chronic myelogenous leukemia, will be presented at the 43rd American Society of Clinical Oncology Annual Meeting. The meeting takes place June 1- 5, 2007 at McCormick Place in Chicago, Illinois.

Information related to the presentation is as follows: -0-

Presentation Title: "A phase I study of INNO-406, a dual inhibitor of

                    Abl and Lyn kinases, in adult patients with

                    Philadelphia chromosome positive (Ph+) chronic

                    myelogenous leukemia (CML) or acute lymphocytic

                    leukemia (ALL) relapsed, refractory, or intolerant

                    of imatinib"

Abstract Number:    7046

Session:            General Poster Session, Leukemia, Myelodysplasia

                    and Transplantation, Poster Board #L2

Location:           S Hall A2, McCormick Place

Session Date:       Saturday, June 2, 2007

Session Time:       8:00 a.m. - 12:00 p.m.

About INNO-406

INNO-406 (formerly known as NS-187) is a potent, oral, rationally designed, dual Bcr-Abl and Lyn-kinase inhibitor currently being investigated in a Phase I clinical study. According to a study published in the journal Blood (Dec. 1, 2005), INNO-406 is 25- to 55-times more potent than imatinib in vitro and is at least 10-times as effective as imatinib mesylate in suppressing the growth of Bcr-Abl bearing tumors. INNO-406 has demonstrated activity in 18 of 19 imatinib-resistant cell lines. In addition to its Bcr-Abl inhibitory properties, INNO-406 inhibits Lyn kinase. Upregulation of Lyn kinase activity is a well recognized cause of imatinib resistance. Lyn kinase activation has also been documented in a v
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