Celsion Corporation Provides an Update Regarding ThermoDox® Agreements with Zhejiang HISUN Pharmaceutical Company for China

 Celsion Corporation Provides an Update Regarding ThermoDox® Agreements with
               Zhejiang HISUN Pharmaceutical Company for China

Exclusive Option Agreement Will Be Allowed To Expire While Celsion Conducts

Sub-Group Analysis of Chinese Patient Cohort in Phase III HEAT Study

Companies' Technology Development Contract Remains in Force

Issuance of Additional Patents Extends Protection of ThermoDox® and Other
Formulations To 2026 in Key Pacific Region Countries

PR Newswire

LAWRENCEVILLE, N.J., Feb. 5, 2013

LAWRENCEVILLE, N.J., Feb. 5, 2013 /PRNewswire/ --Celsion Corporation (NASDAQ:
CLSN) today announced that Zheijang HISUN Pharmaceutical Company (HISUN) does
not plan to pursue the exclusive option to license ThermoDox® for the Greater
China market. Accordingly, the parties will not enter into the exclusive
license agreement, and Celsion will not receive nor will it require any future
payment for the option or license, as contemplated in the Exclusive Option
Agreement announced on January 22, 2013. Celsion and HISUN have agreed that
the Technology Development Contract entered into on January 18, 2013 will
remain in effect while the parties continue to collaborate and are evaluating
next steps in relation to ThermoDox®, which include the sub-group analysis of
the Chinese cohort of patients in the Phase III Heat Study for the
hepatocellular carcinoma clinical indication and other activities to further
the development of ThermoDox® for the Greater China market .

Celsion also announced that its proprietary patent application, "Method of
Storing Nanoparticle Formulations," has recently been allowed in China and
granted in South Korea and Australia. Celsion holds an exclusive license
agreement with Duke University for its temperature-sensitive liposome
technology that covers the ThermoDox® formulation. Celsion's newly issued
patents pertain specifically to methods of storing stabilized,
temperature-sensitive liposomal formulations and will assist in the protection
of global rights. These patents will extend the overall term of the
ThermoDox® patent portfolio to 2026. The patents in these three countries are
the first in this family, which includes pending applications in the U.S.,
Europe and additional key commercial geographies in Asia. This extended
patent runway to 2026 allows for the evaluation of future development
activities for ThermoDox and Celsion's heat-sensitive liposome technology.

"We have started the population sub-group analyses for the HEAT Study," said
Michael H. Tardugno, Celsion's President and Chief Executive Officer. "While
we understand HISUN's decision regarding the exclusive option for a license at
this time, it is important to note that our Technology Development Contract
remains in force and will do so pending the results of our sub-group analysis.
Furthermore, our program for expanding patent coverage is intended to add
long-term value to our drug pipeline, extending both the term of our
ThermoDox® patent estate, supporting our multifaceted portfolio development
and life-cycle management strategy, as well as broadening the breadth of
patent protection around temperature-sensitive liposomal formulations."

Celsion ended 2012 with a strong balance sheet that provides the Company the
opportunity to evaluate its future development plans. The Company projects
its unaudited cash and investment balance to be approximately $23 million as
of December 31, 2012 and approximately $27 million as of January 31, 2013.

About ThermoDox®

ThermoDox® is a proprietary heat-activated liposomal encapsulation of
doxorubicin, an approved and frequently used oncology drug for the treatment
of a wide range of cancers. ThermoDox® is being evaluated in a Phase III
clinical trial for primary liver cancer (the HEAT study), a Phase II clinical
trial for colorectal liver metastasis and a Phase II clinical trial for
recurrent chest wall breast cancer. Localized mild hyperthermia (39.5 - 42
degrees Celsius) created by radiofrequency ablation (RFA) releases the
entrapped doxorubicin from the liposome. This delivery technology enables
high concentrations of doxorubicin to be deposited preferentially in a
targeted tumor. On January 31, 2013, Celsion announced that ThermoDox® in
combination with RFA did not meet the primary endpoint of the HEAT study in
patients with hepatocellular carcinoma, also known as primary liver cancer.
Celsion will conduct additional analyses of the data from the HEAT study to
assess the future strategic value of ThermoDox®.

About Celsion Corporation

Celsion is dedicated to the development and commercialization of innovative
cancer drugs, including tumor-targeting treatments using focused heat energy
in combination with heat-activated liposomal drug technology. Celsion has
research, license or commercialization agreements with leading institutions,
including the National Institutes of Health, Duke University Medical Center,
University of Hong Kong, the University of Pisa, the UCLA Department of
Medicine, the Kyungpook National University Hospital, the Beijing Cancer
Hospital and the University of Oxford. For more information on Celsion, visit
our website: http://www.celsion.com.

Celsion wishes to inform readers that forward-looking statements in this
release are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Readers are cautioned that such
forward-looking statements involve risks and uncertainties including, without
limitation, unforeseen changes in the course of research and development
activities and in clinical trials; the need for Celsion to analyze the results
of the HEAT Study further; the need for Celsion to evaluateits future
development plans; cash projections are unaudited; possible acquisitions of
other technologies, assets or businesses; possible actions by customers,
suppliers, competitors, regulatory authorities; and other risks detailed from
time to time in Celsion's periodic reports filed with the Securities and
Exchange Commission.

Investor Contact
Jeffrey W. Church
Sr. Vice President – Corporate
Strategy and Investor Relations
609-482-2455
jchurch@celsion.com



SOURCE Celsion Corporation

Website: http://www.celsion.com
 
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