BUFFALO, NY--(Marketwire - October 21, 2008) - Cleveland BioLabs, Inc. (NASDAQ: CBLI) today announced that the Company will present at the 2008 BIO Investor Forum in San Francisco, October 29-31, 2008. The conference will be held at The Palace Hotel in San Francisco. Management will be available to meet with investors or licensing partners October 29-30.

Michael Fonstein, Ph.D., President and Chief Executive Officer of Cleveland BioLabs, will give a presentation on the Company's lead compounds and development strategy on October 30, at 2:45 p.m. PT. The presentation will be broadcast live over the Internet and archived for 90 days. Interested parties may listen to the presentation by visiting the Investor Information section of the Company's website at: www.cbiolabs.com.

Cleveland BioLabs is developing a pipeline of products from two primary families of compounds: Protectans and Curaxins. Protectans are being developed as drug candidates that protect normal tissues from acute stresses such as radiation and chemotherapy. Curaxins are being developed as anticancer agents that could act as mono-therapy drugs or in combination with other existing anticancer therapies.

The Company has completed a Phase II clinical trial of Curaxin CBLC102 in advanced, hormone-refractory (androgen independent) prostate cancer. CBLC102 is an orally administered, small molecule designed to kill tumor cells through multiple mechanisms of action targeting signaling pathways frequently deregulated in cancer. Results of the trial are expected to be reported in the fourth quarter.

Cleveland BioLabs recently announced that the first healthy volunteer was dosed in the initial human safety study for its lead tissue protection compound, Protectan CBLB502, which is under development for the treatment for Acute Radiation Syndrome (ARS). Protectan CBLB502 is being developed under the FDA's animal efficacy rule to treat radiation injury following exposure to radiation from nuclear or radiological weapons, or from nuclear accident. This approval pathway requires demonstration of efficacy in representative animal models and safety and drug metabolism testing in a representative sample of healthy human volunteers. The Company has already established cGMP quality manufacturing for Protectan CBLB502, and demonstrated pre-clinical activity of this product in animal models of ARS.

Earlier this year, the Biomedical Advanced Research and Development Authority (BARDA) of the of the Department of Health and Human Services (DHHS) and the Department of Defense (DoD) awarded Cleveland BioLabs two development contracts totaling $22.2 million for the advanced development of Protectan CBLB502, as a radiation countermeasure. These two awards are expected to support the final stages of Protectan CBLB502's development necessary for submission for FDA approval.

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.

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