BUFFALO, NY -- (Marketwire) -- 06/08/10 -- Cleveland BioLabs, Inc. (NASDAQ: CBLI) today announced that Chief Executive Officer and President, Michael Fonstein, Ph.D. and Chief Scientific Officer, Andrei Gudkov, Ph.D, D. Sci. shared milestones and progress updates at the Company's annual meeting today.

Drs. Fonstein and Gudkov reviewed several of the Company's achievements over the past year, including:

  • Conclusion of dosing in the second human safety study for Protectan CBLB502, a drug under development for the treatment for Acute Radiation Syndrome (ARS);
  • Submission of a response to the Department of Defense Request for Proposal for Radiological and Nuclear Medical Countermeasures;
  • Receipt of more than $32 million in development funding for CBLB502 from the Department of Defense, the Biomedical Advanced Research and Development Authority of the Department of Health and Human Services and the National Institute of Allergy and Infectious Diseases of the National Institutes of Health in 2008 and 2009;
  • Formation and launch of the Incuron joint venture to develop Curaxin anticancer compounds;
  • Publication of new insights into the mechanism of action of first generation Curaxin anticancer compound in Oncogene and Cell Cycle; and
  • Signing of a licensing agreement for CBLB612, a drug in development for stimulation of hematopoietic stem cell proliferation and mobilization to peripheral blood, with Zhejiang Hisun Pharmaceutical Co., a leading pharmaceutical manufacturer in the People's Republic of China.

Fonstein provided an update on development progress for CBLB502, emphasizing the critical development steps remaining to prepare for submission for FDA approval.

Gudkov shared pre-clinical observations regarding CBLB502's potential activity as a supportive care agent in radiation therapy of head and neck cancer and CBLB612. He also reviewed the current status of CBLI's Incuron joint venture to develop Curaxin molecules for cancer applications.

About Cleveland BioLabs, Inc.
Cleveland BioLabs, Inc. is a drug discovery and development company leveraging its proprietary discoveries around programmed cell death to develop treatments for cancer and protection of normal tissues from exposure to radiation and other stresses. The Company has strategic partnerships with the Cleveland Clinic, Roswell Park Cancer Institute, ChemBridge Corporation and the Armed Forces Radiobiology Research Institute. To learn more about Cleveland BioLabs, Inc., please visit the company's website at http://www.cbiolabs.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's periodic filings with the Securities and Exchange Commission.

Rachel Levine
Director Corporate Development & Communications
Cleveland BioLabs, Inc.
T: (646) 284-9439
E: rlevine@cbiolabs.com