Oslo, 21 May 2007: Clavis Pharma announced today that the US National Cancer Institute has accepted seven new compounds from the company for testing under its Developmental Therapeutics Program. The drug candidates, which are structurally novel analogues of several cancer drugs, have been synthesized by applying Clavis Pharma's proprietary Lipid Vector Technology. The drug candidates will be screened in a well-established cell line test panel (NCI-60) against a variety of cancer types. Positive pre-clinical results from the NCI screening program, will constitute important pre-clinical documentation for these products and potentially contribute to the broadening of Clavis Pharma's oncology pipeline. Previously Clavis' two most advanced drug candidates, Elacyt(TM) and CP.4126, have also undergone similar NCI screening. "We are very pleased that the NCI has agreed to test additional seven of our new cancer drug candidates in their prestigious NCI-60 test panel. The outcome of these tests is of great value in our efforts to develop new and improved treatments of cancer. The interest we have received from the NCI regarding these product candidates constitutes an important endorsement of the ability of our Lipid Vector Technology to create new promising pharmaceuticals. It supports Clavis Pharma in its efforts to build a broader product pipeline.", Tom E. Pike, Chief Executive Officer of Clavis Pharma commented. For further information, please contact: Tom E. Pike CEO Tel: +47 915 19 652 [email protected] About Clavis Pharma Clavis Pharma ASA is a public oncology focused pharmaceutical company leveraging its proprietary Lipid Vector Technology (LVT) platform to create New Chemical Entities (NCEs) by significantly improving approved drugs. The improvement is achieved by chemically binding specific unsaturated lipids to existing, and well understood, approved pharmaceuticals. Data generated suggests the resulting patentable NCEs offer improved efficacy and reduced side effects through enhanced pharmacokinetic properties, greater tissue penetration and, in many cases, additional modes of action. Clavis Pharma intends to develop its drug candidates until significant value has been created and proof of principle in man has been shown. For further clinical development and commercialisation of the products, Clavis Pharma will enter strategic partnerships with established pharmaceutical or biotech companies. The company's product portfolio includes three new cancer drugs, of which the first ELACYT(TM) , is in clinical phase II, the second, CP- 4126, is in clinical phase I, and the third is in the pre-clinical phase. Results indicate that ELACYT(TM) has a promising potential for several cancer indications within solid tumours and leukaemia. Clavis Pharma ASA is listed on the Oslo Stock Exchange (ticker: CLAVIS). Additional information on Clavis Pharma can be found at: www.clavispharma.com