an emerging oncology business

Ten years ago, we boldly stepped beyond our focus in the central nervous system and initiated research and partnerships in the field of oncology. After a series of successful acquisitions and the advancement of our proprietary multilineage kinases, we are now poised to bring new products to patients suffering from several hematologic malignancies. As part of our near-term strategy for growing the oncology business, this year we submitted two NDA filings for TREANDA: one for treatment of patients with chronic lymphocytic leukemia, and another for patients with indolent non-Hodgkin’s lymphoma who have progressed during or following rituximab treatment.

Our marketed oncology product, TRISENOX, was the focus of an important U.S. government-sponsored clinical trial. National Cancer Institute (NCI) sponsored research revealed that TRISENOX improves survival in newly-diagnosed patients with acute promyelocytic leukemia. The study results were of such medical significance that the researchers and the NCI could not wait to share the news with clinicians and released the information immediately. Our late-stage oncology compounds also are gaining attention. TREANDA, and CEP-701, an inhibitor of tyrosine kinases, were identified in the March 2007 publication of R&D Directions as two of the “100 Great Investigational Drugs of 2007.”

With the advancement of our VEGF-R/TIE 2 kinase inhibitor (CEP-11981) and our proteasome inhibitor (CEP-18770) into clinical development, we have set the stage for continual progress in our goal to become a leader in the oncology field. Together all of these developments will move our oncology business to the forefront of our growth over the next several years.