Progenics Pharmaceuticals Announces the Appointment of Karen Ferrante, M.D. to Its Board of Directors

Progenics Pharmaceuticals Announces the Appointment of Karen Ferrante, M.D. to
Its Board of Directors

TARRYTOWN, N.Y., Jan. 29, 2014 (GLOBE NEWSWIRE) -- Progenics Pharmaceuticals,
Inc. (Nasdaq:PGNX), an oncology company focused on the development of
innovative approaches to targeting and treating cancer, announced today that
Karen Ferrante, M.D., a healthcare industry leader with more than two decades
of experience in the areas of oncology and clinical research and development,
has been elected to its Board of Directors. Most recently Dr. Ferrante held
the positions of Chief Medical Officer and was a Head of R & D at Millennium,
The Takeda Oncology Company, and Oncology Therapeutic Area Head at Takeda
Pharmaceutical Company.

"Karen's extensive experience in oncology and clinical development supports
our strategic focus in late stage oncology and complements the areas of
expertise of our current Board members," said Mark R. Baker, Chief Executive
Officer. "Karen's election rounds out this talented and dedicated group upon
whom we rely to guide us toward our goal of becoming a pre-eminent oncology
company."

"The appointment of Karen to our Board is further evidence of our commitment
to building our presence in the oncology space; to improving the lives of the
patients and families touched by this disease and, in doing so, create value
for our shareholders," said Peter Crowley, Chairman of the Board of Progenics.

Dr. Ferrante held senior positions at Millennium Pharmaceuticals and its
parent company, Takeda Pharmaceuticals, most recently as Oncology Therapeutic
Area and Cambridge USA Site Head.She held positions of increasing
responsibility at Pfizer Global Research & Development, culminating as Vice
President, Oncology Development. Dr. Ferrante began her career in the
pharmaceutical industry as Associate Director of Clinical Oncology at
Bristol-Myers Squibb Company.For more than a decade prior, she was at the New
England Deaconess Hospital in Boston (Beth Israel Deaconess), where she
completed her internship and residency in internal medicine followed by her
fellowship in hematology and oncology.While at the Beth Israel Deaconess
Hospital, she served as Clinical Instructor and Clinical Fellow in Medicine at
the Harvard Medical School.

Dr. Ferrante has authored numerous papers in the field of oncology, is an
active participant in academic and professional associations and symposia, and
holds several patents.Dr. Ferrante holds a B.S. in Chemistry and Biology from
Providence College and an M.D. from Georgetown University.

"I am intrigued by Progenics' efforts to successfully develop innovative drug
candidates to diagnose, target and treat cancer," said Dr. Ferrante."I
believe that Progenics' efforts may be a catalyst for positive change in
current treatment protocols and I look forward to contributing my time and
expertise to this worthwhile cancer effort."

About Progenics

Progenics Pharmaceuticals, Inc. is developing innovative medicines for
oncology, with a pipeline that includes several product candidates in
late-stage clinical development.Progenics' first-in-class PSMA targeted
technology platform includes an antibody drug conjugate therapeutic and a
small molecule targeted imaging agent, both in Phase 2 clinical trials. Among
other assets in its pipeline of targeted radiotherapy and molecular imaging
compounds is Azedra^TM, an ultra-orphan radiotherapy candidate in a
registrational trial under a SPA.Progenics' first commercial product,
Relistor^® (methylnaltrexone bromide) for opioid-induced constipation, is
partnered with and marketed by Salix Pharmaceuticals, Inc.Ono Pharmaceutical
Co. is developing Relistor in Japan. For additional information, please visit
www.progenics.com.

This release may contain projections and other forward-looking statements
regarding future events. Such statements are predictions only, and are subject
to risks and uncertainties that could cause actual events or results to differ
materially. These risks and uncertainties include, among others, the cost,
timing and results of clinical trials and other development activities; the
unpredictability of the duration and results of regulatory review of New Drug
Applications and Investigational NDAs; market acceptance for approved
products; generic and other competition; the possible impairment of, inability
to obtain and costs of obtaining intellectual property rights; and possible
safety or efficacy concerns, general business, financial and accounting
matters, litigation and other risks. More information concerning Progenics and
such risks and uncertainties is available on its website, and in its press
releases and reports it files with the U.S. Securities and Exchange
Commission. Progenics is providing the information in this release as of its
date and does not undertake any obligation to update or revise it, whether as
a result of new information, future events or circumstances or otherwise.

Additional information concerning Progenics and its business may be available
in press releases or other public announcements and public filings made after
this release.

(PGNX-C)

Editors Note:

For more information, please visit www.progenics.com.

CONTACT: Contacts for Progenics Pharmaceuticals:
         Kathleen Fredriksen
         Director, Corporate Development
         (914) 789-2871
         kfredriksen@progenics.com

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