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Axokine Diet Drug for Obesity Treatment
Form of Ciliary Neurotrophic Factor in Weight Loss Program
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Axokine Diet Drug for the Treatment of Obesity

Regeneron Pharmaceuticals (Nasdaq:REGN) announced today that it will move forward with the Phase III development program of Axokine for the treatment of obesity. This decision was made following a meeting with the U.S. Food and Drug Administration (FDA) to review results from the initial pivotal diet drug trial completed earlier this year and the Company's plans for future development of Axokine as an aid to weight loss.

More Diet Drug Trials
The remaining Phase III program is expected to consist of a one-year confirmatory pivotal trial similar to the initial trial, a separate one-year study in obese type 2 diabetic patients, and several smaller and shorter studies. The trials will continue to enroll a broad range of overweight and obese individuals. In total, approximately 2,300 additional people are expected to be enrolled in future trials.

Axokine Weight Loss Drug Trial
Axokine has the potential to be a new weapon in the battle against obesity. Though it causes moderate weight loss in most patients, a significant proportion of patients exhibit substantial weight loss with Axokine treatment. In the completed pivotal trial, almost three times as many patients treated with Axokine plus a weight control program lost over 10 percent of their body weight over twelve months of treatment compared to those on a weight control program alone (11.3 percent versus 4.2 percent), and these patients averaged more than 30 pounds of weight loss."

About Axokine Diet & Weight Loss Drug
Axokine is a modified form of ciliary neurotrophic factor (CNTF), which is in Phase III clinical development by Regeneron Pharmaceuticals for the treatment of obesity. This investigational compound has a novel mechanism of action - the inhibition of hunger signals that stimulate appetite. Ongoing Phase III trials are studying the safety and efficacy of Axokine.

Source: Press Release, Sept. 9, 2003

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