NaPro Changes Name to Tapestry Pharmaceuticals Nasdaq Ticker Symbol Changes to TPPH BOULDER, Colo., May 4 /PRNewswire-FirstCall/ -- NaPro BioTherapeutics, Inc., announced today that it has changed its name to Tapestry Pharmaceuticals, Inc. The company's stock symbol on the Nasdaq SmallCap Market has changed from "NPRO" to "TPPH" effective immediately. The company's new website is http://www.tapestrypharma.com/. "Our new name, Tapestry, was selected because it suggests the complex intricate interdisciplinary nature of pharmaceutical drug development. The name also reinforces our development and product strategy: to build a diverse portfolio of next generation, first in class, proprietary therapeutic products for the treatment of cancer and hereditary disease," commented Leonard P. Shaykin, Chairman and Chief Executive Officer. Tapestry currently has six programs in pre-clinical development: four in oncology and two in hereditary disease. The company expects to advance two compounds into the clinic in 2004 and two more compounds into the clinic in 2005. In December 2003 the company sold its worldwide generic paclitaxel business for $71.7 million minus balance sheet adjustments. The net proceeds from that sale, approximately $50 million, are now funding the development of the company's proprietary therapeutic programs. The six programs that Tapestry currently has in pre-clinical development are: NBT-287 A proprietary third generation taxane designed to overcome multidrug (MDR-1) and mutant tubulin resistance in taxane refractory solid tumors NBT-273 A proprietary Quassinoid analogue which appears to selectively downregulate C-myc overexpressing tumors BBN Taxane A proprietary Bombesin/paclitaxel conjugate which selectively targets and internalizes to Bombesin overexpressing tumors HN-1 Taxane A proprietary synthetic peptide/paclitaxel conjugate that selectively targets and internalizes specifically to squamous cell carcinomas of the head and neck HD-1 A proprietary oligonucleotide which appears to break up the protein aggregates characteristic of Huntington's Disease SCD-1 A proprietary "gene editing" oligonucleotide which is part of an ex vivo cell therapy treatment for sickle cell disease "We are blessed with a rich and diverse portfolio of proprietary compounds to choose from as we transition, over the remainder of this year, the focus of our development activity into human clinical trials. Animal studies are currently underway in all but the Sickle Cell program. We will be selecting, over the next six months, two of our most advanced compounds to begin Phase I human trials. We are excited and optimistic about the future of our progress and the future of Tapestry Pharmaceuticals, Inc.," commented Mr. Shaykin. About Tapestry Pharmaceuticals Tapestry Pharmaceuticals, Inc. is a company focused on the development of proprietary therapies for the treatment of cancer and hereditary disease. Forward Looking Statements The statements in this press release that are not historical facts are forward-looking statements that represent management's beliefs and assumptions as of the date of this press release, based on currently available information. Forward-looking statements can be identified by the use of words such as "believes," "intends," "estimates," "may," "will," "should," "anticipates," "expected" or comparable terminology or by discussions of strategy, and include statements regarding the Company's expectation as to the advancing of compounds into the clinic, the selection of compounds to move into human trials and related timing. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot assure that these expectations will prove to be correct. Such statements involve risks and uncertainties, including whether any such compounds show sufficient prospect in the treatment of disease, the Company's ability to prepare appropriate regulatory filings in a timely manner and development of data or new information that delays the design of protocols and the submission of filing, as well as other factors identified under the captions "Risk Factors," "Special Note Regarding Forward Looking Statements" or "Cautionary Note Regarding Forward Looking Statements" in the Company's documents filed from time to time with the SEC, including the Company's Annual Report on Form 10-K for the year ending December 31, 2003 filed with the SEC on March 11, 2004. Should one or more of these risks materialize (or the consequences of such a development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those forecasted or expected. The Company disclaims any intention or obligation to update publicly or revise such statements whether as a result of new information, future events or otherwise. For further information, please contact L. Robert Cohen, Vice President, Investor Relations of Tapestry Pharmaceuticals, Inc., at 212 218 8715. DATASOURCE: Tapestry Pharmaceuticals, Inc. CONTACT: L. Robert Cohen, Vice President, Investor Relations of Tapestry Pharmaceuticals, Inc., +1-212-218-8715; or Investors, Lilian Stern of Stern Investor Relations, Inc., +1-212-362-1200, for Tapestry Pharmaceuticals, Inc.; or Media, Peter Steinerman, +1-516-374-3031, for Tapestry Pharmaceuticals, Inc. Web site: http://www.tapestrypharma.com/

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