"milkCelgene
`
`FOR IMMEDIATE RELEASE
`
`Celgene Corporation
`7 Powder Horn Drive
`Warren, New Jersey 07059
`Tel 732-271-1001
`Fax 732-271-4184
`
`CONTACT:
`
`Robert J. Hugin
`Celgene Corporation
`(732) 271-4102
`
`CELGENE ADVANCES 1MMUNOMODULATORY DRUG (IMIDTm)
`CLINICAL PROGRAM
`
`Novel Drugs Well-Tolerated, Non-sedating in Initial Clinical Study.
`Lead Candidate to Move Quickly into Phase I/II Trial for Myeloma.
`
`WARREN, NJ (February 29, 2000) -- Celgene Corporation (NASDAQ:CELG) today
`announced the results of its initial Phase I clinical studies of the first two compounds from
`its proprietary class of lmmunomodulatory Drugs (IMiDs). The IMiDs are a class of orally
`available small molecule compounds that are structurally and mechanistically similar to
`thalidomide and are designed with the objective of improving the beneficial characteristics
`of thalidomide and eliminating its adverse effects. Previously published reports have
`documented the IMiDs improved potency in animal models and in in vitro systems
`including enhanced anti-angiogenic and TNF-a modulating properties. In addition,
`preliminary evaluations in animal models have demonstrated that the lead IMiDs did not
`cause birth defects.
`
`The two IMiDs evaluated were found to be well-tolerated in healthy human volunteers in
`the double blind, placebo controlled trials. Each IMiD was administered orally in a single
`ascending dose in thirty subjects. No serious adverse events were reported in the trials
`which were conducted in the United Kingdom. Importantly, sedation which can be a
`significant and undesirable characteristic of thalidomide, was not detected in these trials.
`
`Celgene also announced that the clinical development of the lead IMiD CDC-501 is
`planned to be initiated with Phase I/II clinical studies in multiple myeloma patients at Dana-
`Farber Cancer Institute and other institutions nationwide.
`
`In laboratory studies, the IMiDs were potent inhibitors of myeloma cells. "The IMiDs are
`among the most potent molecules tested in our early preclinical laboratory tests of human
`multiple myeloma. I look forward to examining the results of upcoming studies to evaluate
`their safety and possible efficacy in myeloma patients." said Ken Anderson, M.D.,
`Associate Professor of Medicine at Harvard Medical School and Dana-Farber Cancer
`Institute.
`
`DR. REDDY’S LABS., INC. EX. 1007 PAGE 1
`
`

`

`February 29, 2000
`Page 2
`
`"Having successfully completed this trial, we intend to accelerate and broaden the
`development of the IMiDTm class for a wide range of oncologic and immunologic
`indications. The growing data regarding thalidomide provides us with a valuable road map
`for this class of compounds" said Sol Barer, Ph.D., President and COO of Celgene
`Corporation.
`
`Celgene Corporation, headquartered in Warren, NJ, is an independent biopharmaceutical
`company engaged in the discovery, development and commercialization of small molecule
`drugs for cancer and immunological diseases. Please feel free to visit the Company's
`website: http://www.Celgene.com.
`
`This release contains certain forward-looking statements which involve known and unknown risks,
`delays, uncertainties and other factors not under the Company's control which may cause actual
`results, performance or achievements of the Company to be materially different from the results,
`performance or other expectations implied by these forward-looking statements. These factors include
`results of current or pending research and development activities, actions by the FDA and other
`regulatory authorities, and those factors detailed in the Company's filings with the Securities and
`Exchange Commission such as 10K, 10Q and 6K reports.
`
`DR. REDDY’S LABS., INC. EX. 1007 PAGE 2
`
`