November 17, 2003

News Release: Insmed Presents Positive Data on Anti-Cancer Drug Candidate to AACR-NCI-EORTC

Insmed Incorporated (Nasdaq: INSM) reported today that data from recent studies of the Company's proprietary anti-cancer compound, recombinant human insulin-like growth factor binding protein-3 (rhIGFBP-3), will be presented at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics, November 17-21, at the Hynes Center in Boston.

These studies conducted in the laboratory of Dr. Michael Pollak of McGill University were designed to further examine the radiosensitization properties of rhIGFBP-3 in vitro and to evaluate the inhibitory effects of rhIGFBP-3 administration on tumor growth in vivo. The results of this study, published in the abstract titled, 'IGFBP-3 Enhances Sensitivity to Radiation Therapy In Vitro and Inhibits Tumor Formation In Vivo in a Model of Human Breast Cancer', demonstrated the following:

1. As a single agent, rhIGFBP-3 significantly inhibited the growth of breast and colorectal carcinoma cells 55% and 49%, respectively (p less than or equal to 0.01).

2. rhIGFBP-3 significantly enhanced the effect of radiation by demonstrating a decrease in the survival fraction in both breast and colorectal carcinoma cells.

3. rhIGFBP-3 treatment prevented tumor development in 75% of the mice injected with human breast cancer cells, rhIGFBP-3 significantly inhibited tumor volume in the treated mice that did develop tumors by 67% compared to control (p less than or equal to 0.05).

Please view the abstract and poster being presented at the Company's corporate website:

1. Go to www.insmed.com 2. Click on 'Product Pipeline' 3. Click on the cancer development timeline arrow

For reprints, please contact, Baxter Phillips, at 804.565.3041 or This email address is being protected from spambots. You need JavaScript enabled to view it..

IGFBP-3: A Naturally Occurring Anti-Cancer Agent

Our proprietary product, rhIGFBP-3, is a protein that is normally found in our bloodstream that has been shown to induce cancer cell death in a variety of experimental systems. Several studies have demonstrated that cancer risk increases with decreasing levels of circulating IGFBP-3. In addition, recent independent studies have demonstrated that IGFBP-3 can induce cell cycle arrest and enhance the efficacy of chemotherapeutic agents. Insmed is currently engaged in an active preclinical program with leading clinical oncologists and world experts in the field of IGFBP-3 research to evaluate the efficacy of rhIGFBP-3 as a therapeutic agent and to define the optimal clinical protocol in which to translate these promising observations into human clinical trials.

About Insmed

Insmed Incorporated develops pharmaceutical products for the treatment of metabolic and endocrine diseases with unmet medical needs. The Company's most advanced product candidate, the rhIGF-I/rhIGFBP-3 complex is a novel delivery composition of IGF-I that regulates essential metabolic and anabolic (growth promoting) processes, such as glucose uptake and tissue regeneration. Insmed is currently in a pivotal Phase III clinical trial for the rhIGF-I/rhIGFBP-3 complex for the treatment of Growth Hormone Insensitivity Syndrome (GHIS). The Company's second product candidate, rhIGFBP-3, is a recombinant protein that is being developed as an anti-cancer agent targeted towards the inhibition of solid tumor growth. Further information is available at the company's corporate website: www.insmed.com

Statements included within this press release, which are not historical in nature, may constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements regarding expected financial position, results of operations, cash flows, dividends, financing plans, business strategies, operating efficiencies or synergies, budgets, capital and other expenditures, competitive positions, growth opportunities for existing or proposed products or services, plans and objectives of management, demand for new pharmaceutical products, market trends in the pharmaceutical business, inflation and various economic and business trends. Such forward-looking statements are subject to numerous risks and uncertainties, including risks that product candidates may fail in the clinic or may not be successfully marketed, the company may lack financial resources to complete development of product candidates, competing products may be more successful, demand for new pharmaceutical products may decrease, the biopharmaceutical industry may experience negative market trends and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. As a result of these and other risks and uncertainties, actual results may differ materially from those described in this press release.

SOURCE: Insmed Incorporated

Insmed Incorporated Investor Relations: Baxter Phillips, III, 804-565-3041 This email address is being protected from spambots. You need JavaScript enabled to view it.


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