Cancer Patients Injected With Pro-Pharmaceuticals' DAVANAT in Phase I Clinical Trial at...

Business Editors/Health/Medical Writers

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NEWTON, Mass.--(BUSINESS WIRE)--June 24, 2003

Pro-Pharmaceuticals, Inc. (OTCBB: PROH), a developer of anti-cancer drugs, today announced the dosing of patients in a Phase I clinical trial of its DAVANAT(TM) product candidate

at the Norris Cotton Cancer Center at Dartmouth-Hitchcock Medical Center in Lebanon, NH. This clinical trial is part of a multi-center, open-label study in cancer patients with advanced solid tumors that have failed standard surgical, radiation and chemotherapeutic regimens. Dr. Raymond Perez is the Principal Investigator at the Norris Cotton site.

"The addition of the Dartmouth-Hitchcock Medical Center to our Phase I clinical trial enables us to accelerate our efforts and provide yet another successful milestone for our company," said Maureen Foley, Pro-Pharmaceuticals' Chief Operating Officer. "Dartmouth-Hitchcock is an award winning institution and a major clinical research center. We are very fortunate and pleased to announce its participation."

Further information on patient participation is available at www.cancer.dartmouth.edu/clinictrials/index.shtml.

Pro-Pharmaceuticals' Phase I clinical trial of its DAVANAT combination with 5-Fluorouracil (5-FU) was approved as an Investigational New Drug Application by the U.S. Food & Drug Administration last year. The DAVANAT-enhanced 5-FU was shown in pre-clinical studies to improve the drug's anti-cancer effectiveness, while significantly reducing its toxicity. Other cancer centers participating in the Phase 1 trial are the Ochsner Cancer Institute in New Orleans and a Private Oncology Clinic in Howell, NJ. In February 2003, the Company entered Phase I human clinical trials relating to advanced solid tumors.

Pro-Pharmaceuticals, Inc. -- Advancing Drugs Through Glycoscience(TM)

Pro-Pharmaceuticals, founded in 2000 and headquartered in Newton, MA, is a drug development company commercializing a new generation of anti-cancer treatments using carbohydrate molecules to significantly upgrade the safety and efficacy of anti-cancer agents. The Company is a leader in the use of structure-based drug design; an approach to drug discovery that integrates advanced biology and chemistry. Additional information is available at www.pro-pharmaceuticals.com.

FORWARD LOOKING STATEMENTS: Any statements in this press release about future expectations, plans and prospects for the Company, including statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward looking statements. Future events could cause actual results to differ materially from those indicated by such statements. Reference is made to the factors discussed in the "Plan of Operations" and "Risk Factors" sections of the Company's most recent quarterly or annual report filed with the Securities and Exchange Commission. The forward-looking statements herein represent the Company's views as of the date of this press release and should not be relied upon to represent the Company's views as of a subsequent date. While the Company anticipates that subsequent events may cause the Company's views to change, the Company disclaims any obligation to update such forward-looking statements.