EpiCept Earns $2 Million Milestone Payment from Meda AB

EpiCept Earns $2 Million Milestone Payment from Meda AB

TARRYTOWN, N.Y.--(BUSINESS WIRE)-- Regulatory News: 

EpiCept Corporation (Nasdaq and Nasdaq OMX Stockholm Exchange: EPCT) today
announced that it has earned a $2 million milestone payment from Meda AB, (OMX
Nordic Exchange: MEDA-A-ST), for the first commercial shipment of Ceplene®
(histamine dihydrochloride) to a major country in the European Union, as defined
in the agreement. The milestone payment is part of an exclusive commercial
licensing agreement for Ceplene® with Meda in Europe and certain Pacific Rim
countries signed by the two companies in January, 2010. 

Ceplene® is EpiCept's novel therapy approved in the European Union with orphan
drug status for the remission maintenance and prevention of relapse of patients
with acute myeloid leukemia (AML) in first remission. Under the agreement,
EpiCept is eligible to receive a $5 million payment upon achievement of a
regulatory milestone and up to $30 million in sales-based milestones that
commence upon attainment of at least $50 million in annual sales. EpiCept also
receives a double digit percent royalty on net sales in the covered territories.


About Ceplene® 

Ceplene® is indicated for remission maintenance therapy and prevention of
relapse in adult patients with Acute Myeloid Leukemia (AML). Ceplene® is used
together with low dose Interleukin-2. AML is one of four major types of
leukemia. Approximately 16,000 new cases of AML are diagnosed in Europe every
year. While current induction and consolidation treatments are successful in
inducing complete remission for the majority of AML patients, this remission is
generally short-lived. After achieving complete remission most patients will
suffer a relapse within one year. In an international, multicenter, open-label,
randomized phase III study, Ceplene® met its primary endpoint of prolonging
leukemia-free survival for AML patients in remission. The difference between the
treated and control group was statistically significant (p<0.008). 

About EpiCept Corporation 

EpiCept is focused on the development and commercialization of pharmaceutical
products for the treatment of cancer and pain. The Company's lead product is
Ceplene®, which has been granted full marketing authorization by the European
Commission for the remission maintenance and prevention of relapse in adult
patients with Acute Myeloid Leukemia (AML) in first remission. The Company has
two oncology drug candidates currently in clinical development that were
discovered using in-house technology and have been shown to act as vascular
disruption agents in a variety of solid tumors. The Company's pain portfolio
includes EpiCept™ NP-1, a prescription topical analgesic cream in late-stage
clinical development designed to provide effective long-term relief of pain
associated with peripheral neuropathies. 

Forward-Looking Statements 

This news release and any oral statements made with respect to the information
contained in this news release contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include statements which express plans, anticipation,
intent, contingency, goals, targets, future development and are otherwise not
statements of historical fact. These statements are based on our current
expectations and are subject to risks and uncertainties that could cause actual
results or developments to be materially different from historical results or
from any future results expressed or implied by such forward-looking statements.
Factors that may cause actual results or developments to differ materially
include: the risk that Ceplene® will not receive regulatory approval or
marketing authorization in the United States or Canada, the risk that Ceplene®
will not achieve significant commercial success, the risk that any required
post-approval clinical study for Ceplene® will not be successful, the risk that
we will not be able to maintain our final regulatory approval or marketing
authorization for Ceplene®, the risks associated with the adequacy of our
existing cash resources and our ability to continue as a going concern, the
risks associated with our ability to continue to meet our obligations under our
existing debt agreements, the risk that Azixa™ will not receive regulatory
approval or achieve significant commercial success, the risk that we will not
receive any significant payments under our agreement with Myriad, the risk that
the development of our other apoptosis product candidates will not be
successful, the risk that we will not be able to find a buyer for our ASAP
technology, the risk that clinical trials for EpiCeptTM NP-1 or crolibulin™ will
not be successful, the risk that EpiCept NP-1 or crolibulin™ will not receive
regulatory approval or achieve significant commercial success, the risk that we
will not be able to find a partner to help conduct the Phase III trials for
EpiCept NP-1 on attractive terms, a timely basis or at all, the risk that our
other product candidates that appeared promising in early research and clinical
trials do not demonstrate safety and/or efficacy in larger-scale or later stage
clinical trials, the risk that we will not obtain approval to market any of our
product candidates, the risks associated with dependence upon key personnel, the
risks associated with reliance on collaborative partners and others for further
clinical trials, development, manufacturing and commercialization of our product
candidates; the cost, delays and uncertainties associated with our scientific
research, product development, clinical trials and regulatory approval process;
our history of operating losses since our inception; the highly competitive
nature of our business; risks associated with litigation; and risks associated
with our ability to protect our intellectual property. These factors and other
material risks are more fully discussed in our periodic reports, including our
reports on Forms 8-K, 10-Q and 10-K and other filings with the U.S. Securities
and Exchange Commission. You are urged to carefully review and consider the
disclosures found in our filings which are available at www.sec.gov or at
www.epicept.com. You are cautioned not to place undue reliance on any
forward-looking statements, any of which could turn out to be wrong due to
inaccurate assumptions, unknown risks or uncertainties or other risk factors. 

EPCT-GEN 

*Azixa is a registered trademark of Myriad Genetics, Inc.

EpiCept Corporation:
Robert W. Cook, 914-606-3500
rcook@epicept.com
or
Media:
Feinstein Kean Healthcare
Greg Kelley, 617-577-8110
gregory.kelley@fkhealth.com
or
Investors:
Lippert/Heilshorn & Associates
Kim Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
or
Bruce Voss, 310-691-7100
bvoss@lhai.com