Miravant to Begin Purlytin Clinical Trials forProstate Cancer.

SANTA BARBARA, Calif.--(BW HealthWire)--Sept. 2, 1998--Miravant Medical Technologies (Nasdaq:MRVT) announced today that the Food and Drug Administration (FDA) has given its approval to begin a clinical study of the PhotoPoint(tm) drug Purlytin(tm) for prostate cancer. PhotoPoint is being developed

"This prostate cancer study is being supported by funding from our corporate partner, Pharmacia & Upjohn, reflecting our focus on large potential markets where PhotoPoint may provide medical and cost benefits," said Gary S. Kledzik, Ph.D., chairman and chief executive officer. "We were able to leverage our substantial clinical experience with cutaneous cancers into this increasingly important public health problem."

Prostate cancer is the most common malignancy in American men, and mortality from it is second only to lung cancer. Risk of prostate cancer increases with age. As a result of this high incidence, and the anticipated population growth in this age group, prostate cancer has major social and economic ramifications, demanding technologically advanced treatment modalities.

Currently, the standard therapeutic options for men with localized prostate cancer are surgery (radical prostatectomy) and radiation therapy. Radical prostatectomy is a major surgery involving high cost ($10,000 - $18,000), hospitalization and prolonged recovery. All treatment modalities are associated with a high level of complications and adverse effects, and there is no consensus as to the best treatment option.

In animal studies Purlytin has demonstrated greater uptake in the prostate than in surrounding tissues. Miravant's light delivery technology has advanced to the stage where light can potentially be delivered to the entire prostate. Since prostate cancer generally progresses slowly, and since 58% of all prostate cancers are discovered while still localized, PhotoPoint therapy may be applicable as a minimally invasive treatment.

Miravant Medical Technologies specializes in both pharmaceuticals and devices for photoselective medicine. The company is developing its proprietary PhotoPoint procedure in ophthalmology, oncology and other medical specialties.

Except for historical information contained herein, the matters discussed in this news release are deemed forward-looking statements under federal securities laws that involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements depending on a number of factors including, among other things, the ability to maintain long-term relationships with corporate partners, the ability to bring products to market through the regulatory approval process, uncertainty of future profitability, the volatility of the company's stock price, financing requirements and other factors detailed from time to time in the company's SEC reports, including its report on Form 10-K for the fiscal year ended December 31, 1997. Clinical trials must be completed and FDA approval must be obtained before any of the company's products may be made commercially available to the public.

    CONTACT: Miravant Medical Technologies, Santa Barbara
              Tom C. Herrick, 805/685-9880