Dendreon Sells New Jersey Immunotherapy Manufacturing Facility

  Dendreon Sells New Jersey Immunotherapy Manufacturing Facility

Business Wire

BRIDGEWATER, N.J. -- December 20, 2012

Dendreon Corporation (NASDAQ: DNDN) today announced the sale of its
immunotherapy manufacturing facility (IMF) based in Morris Plains, New Jersey,
to Novartis Pharmaceuticals Corporation for $43 million in cash.

“This agreement represents a positive outcome for Dendreon, our shareholders
and New Jersey,” said John H. Johnson, chairman, president and chief executive
officer of Dendreon. “Dendreon continues to make progress in improving our
financial strength, and this transaction is aligned with that goal as we work
to build value for our shareholders. We are also pleased that approximately
100 of the existing employees at the facility will have the opportunity to
retain their jobs and work for Novartis as the company builds out its
immunotherapy operations and develops new treatments for patients.”

Dendreon’s Morris Plains, New Jersey, facility is a 173,100 square foot
state-of-the-art IMF, featuring revolutionary capabilities to manufacture
PROVENGE® (sipuleucel-T), the first autologous cellular immunotherapy to
receive U.S. Food and Drug Administration approval for the treatment of
asymptomatic or minimally symptomatic metastatic castrate resistant prostate
cancer. Earlier this year, Dendreon announced its intent to wind down the
manufacturing of PROVENGE® at the Morris Plains facility in conjunction with a
strategic restructuring plan designed to accelerate the Company’s path to
profitability and future growth.

“Activated Cellular Immunotherapy offers the potential to treat a variety of
diseases in a revolutionary way. We are pleased that Novartis has selected our
facility to advance and accelerate their work in this exciting and emerging
field,” said Christine Mikail, executive vice president, corporate development
at Dendreon.

About PROVENGE®

PROVENGE^® Indication and Important Safety Information

PROVENGE^® is an autologous cellular immunotherapy indicated for the treatment
of asymptomatic or minimally symptomatic metastatic castrate resistant
(hormone refractory) prostate cancer.

PROVENGE is intended solely for autologous use and is not routinely tested for
transmissible infectious diseases.

The safety evaluation of PROVENGE was based on 601 prostate cancer patients in
four randomized clinical trials who underwent at least one leukapheresis. The
most common adverse events (incidence greater-than or equal to 15%) are
chills, fatigue, fever, back pain, nausea, joint ache, and headache. Serious
adverse events reported in the PROVENGE group include acute infusion reactions
(occurring within 1 day of infusion) and cerebrovascular events. In controlled
clinical trials, severe (Grade 3) acute infusion reactions were reported in
3.5% of patients in the PROVENGE group. Reactions included chills, fever,
fatigue, asthenia, dyspnea, hypoxia, bronchospasm, dizziness, headache,
hypertension, muscle ache, nausea, and vomiting. No Grade 4 or 5 acute
infusion reactions were reported in patients in the PROVENGE group.

To fulfill a post marketing requirement and as a part of the company's ongoing
commitment to patients, Dendreon will conduct a registry of approximately 1500
patients to further evaluate a small potential safety signal of
cerebrovascular events. In four randomized clinical trials of PROVENGE in
prostate cancer patients, cerebrovascular events were observed in 3.5% of
patients in the PROVENGE group compared with 2.6% of patients in the control
group.

For more information on PROVENGE, please see the full prescribing information
at http://www.provenge.com or call 1-877-336-3736.

About Dendreon

Dendreon Corporation is a biotechnology company whose mission is to target
cancer and transform lives through the discovery, development,
commercialization and manufacturing of novel therapeutics. The Company applies
its expertise in antigen identification, engineering and cell processing to
produce active cellular immunotherapy (ACI) product candidates designed to
stimulate an immune response in a variety of tumor types. Dendreon's first
product, PROVENGE® (sipuleucel-T), was approved by the U.S. Food and Drug
Administration (FDA) in April 2010. Dendreon is exploring the application of
additional ACI product candidates and small molecules for the potential
treatment of a variety of cancers. The Company is headquartered in Seattle,
Washington and is traded on the NASDAQ Global Market under the symbol DNDN.
For more information about the Company and its programs, visit
http://www.dendreon.com/.

Statements in this press release that are not strictly historical in nature
constitute "forward-looking statements." Such statements include, but are not
limited to, statements regarding the expected benefits of the restructuring,
the timing and elements of the restructuring, the timing and form of related
charges, the expected annual operating expense reduction, expectations and
beliefs regarding Dendreon's profitability and Dendreon's ability to achieve
improved performance as a result of the restructuring, expectations regarding
regulatory approval of PROVENGE in Europe, expectations regarding the
presentation of clinical data, developments affecting Dendreon's business and
prospects and potential revenue and earnings from product sales, and progress
generally on commercialization efforts for PROVENGE. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause Dendreon's actual results to be materially different from
historical results or from any results expressed or implied by such
forward-looking statements. These factors include, but are not limited to, our
inability to achieve and sustain commercial success for PROVENGE; the
identification of efficacy, safety or other issues with PROVENGE; a slower
than anticipated adoption by treating physicians of PROVENGE for the treatment
of patients with advanced prostate cancer due to competing therapies,
perceived difficulties in the treatment process, delays in obtaining
reimbursement or for other reasons; any promotional limitations imposed by the
FDA on our ability to commercialize and market PROVENGE; unexpected
difficulties and costs associated with the rapid expansion of our operations
to support the commercial launch of PROVENGE; and other factors discussed in
the "Risk Factors" section of Dendreon's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2012. All forward-looking statements are qualified
in their entirety by this cautionary statement. Dendreon is providing this
information as of the date of this release and does not undertake any
obligation to update any forward-looking statements contained in this release
as a result of new information, future events or otherwise.

Contact:

Dendreon Corporation
Corporate Communications
Lindsay Rocco, 862-596-1304
media@dendreon.com
or
Joele Frank, Wilkinson Brimmer Katcher
Investor Relations
Andrea Rose, 212-355-4449
InvestorRelations@dendreon.com
 
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