Cleveland BioLabs, Inc. (NASDAQ: CBLI) (BOST: CFB) today announced that the Company is scheduled to present at the Friedman, Billings, Ramsey & Co., Inc. 2007 Growth Conference to be held at The Grand Hyatt New York in New York City, May 30-31.

Michael Fonstein, Ph.D., President and Chief Executive Officer of Cleveland BioLabs, will give a presentation on the Company followed by a question and answer session on May 30, at 8:15 a.m. EDT. The presentation will be broadcast live over the Internet and archived for three months. Interested parties may tune in to the live presentation by visiting the Company's website at:

Cleveland BioLabs recently announced the results of a study of the efficacy of Protectan CBLB612, one of its radiation protectors, in an animal bone marrow stem cell transplantation model. Peripheral blood from CBLB612-treated donors rescued 100% of lethally irradiated mice from bone marrow deficiency. The rescuing effect of the peripheral blood of the treated mice was equivalent to that of conventional bone marrow transplantation.

The Company has two lead compounds in late stages of development. Curaxin CBLC102 is an orally administered small molecule designed to kill tumor cells by simultaneously targeting two key regulators of apoptosis. The Company has an ongoing Phase II trial with CBLC102 in hormone refractory prostate cancer.

Cleveland BioLabs' other lead compound, Protectan CBLB502, is a modified protein of a microbe that protects cells from regulated cell death. The Company recently submitted CBLB502 to the Department of Defense in response to a Request for Proposal (RFP) for medical radiation countermeasures to treat gastrointestinal effects of acute radiation syndrome. The RFP award would provide funding for development of the countermeasure through FDA approval, as well as a commitment to purchase up to 500,000 doses, thereafter.

Cleveland BioLabs management will be available for meetings with investors on May 30 and 31 in New York.

About Cleveland BioLabs, Inc.

Cleveland BioLabs, Inc. is a drug discovery and development company leveraging its proprietary discoveries about programmed cell death to treat cancer and protect normal tissues from exposure to radiation and other stresses. The Company has strategic partnerships with the Cleveland Clinic Foundation, Roswell Park Cancer Institute, ChemBridge Corporation and the Armed Forces Research Radiobiology Institute. To learn more about Cleveland BioLabs, Inc., please visit the company's website at

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. Our 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 our Registration Statement on Form SB-2/A filed with the Securities and Exchange Commission on September 8, 2006.

The Global Consulting Group
Rachel Levine
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