GERMANTOWN, Md., July 26 /PRNewswire-FirstCall/ -- Avalon Pharmaceuticals, Inc. (Nasdaq and NYSEArca: AVRX), a biopharmaceutical company focused on the discovery and development of small molecule therapeutics, and ChemDiv, Inc., a privately-held, chemistry-driven research & development company, today announced that they have entered into a collaboration for the discovery and development of small molecule oncology therapeutics. Avalon will use its proprietary AvalonRx(R) platform to discover new active compounds in screens against selected targets and target pathways. ChemDiv will provide Avalon access to its Discovery outSource(TM) services platform, including the world's largest commercially available chemical library, as well as medicinal and synthetic chemistry for the discovery and development of new active compounds. Avalon and ChemDiv will share in the costs of development and the value of any lead candidate resulting from their joint research efforts. Additional terms of the agreement provide Avalon with the right to select 200,000 compounds from the ChemDiv library for use in all of Avalon's discovery programs. "This is a classic win-win situation for both companies," stated Kenneth C. Carter, Ph.D., President and CEO of Avalon Pharmaceuticals, Inc. "We are pleased to partner with ChemDiv, where we are both able to leverage expertise in the ongoing effort to discover new cancer therapeutics through the combination of our AvalonRx(R) drug discovery platform and ChemDiv's compound library, chemistry resources and expertise." "We are excited about this partnership with Avalon," said Nikolay Savchuk, President and CEO of ChemDiv, Inc. "This collaboration is based on the synergy of ChemDiv's discovery assets and research resources along with Avalon's unique drug discovery engine. We believe that this combination of both Avalon's and ChemDiv's technologies will result in a reduction of the time and effort required to identify and develop new breakthrough therapeutics." About Avalon Pharmaceuticals, Inc. Avalon Pharmaceuticals is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics through the use of a comprehensive, innovative and proprietary suite of technologies based upon large-scale gene expression analysis which it calls AvalonRx(R). This platform facilitates drug discovery by expanding the range of therapeutic targets for drug intervention, including targets and target pathways frequently considered intractable using conventional HTS approaches, allows more informed decisions about which compounds to advance towards clinical trials, and facilitates drug development through identification of biomarkers of efficacy that can stratify patients or provide early indicators of response. Avalon's focus is oncology but has discovery programs in other therapeutic areas with partners. Avalon Pharmaceuticals was established in 1999 and is headquartered in Germantown, Maryland. About ChemDiv, Inc. ChemDiv is a global chemistry-driven contract research organization focused on the delivery of scientific innovation, products and services that meet the drug discovery needs of its partners. ChemDiv provides partners with access to Discovery outSource(TM), a full service drug discovery capability encompassing: medicinal chemistry, pre-clinical development, synthetic chemistry, diverse and focused screening libraries, and logistics services. This press release may contain "forward-looking statements" within the meaning of the United States Private Securities Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein that are not clearly historical in nature are forward looking. Economic, business, competitive and/or regulatory factors affecting Avalon's business are examples of factors, among others, that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements are also expressly qualified in their entirety by the cautionary statements included in Avalon's SEC filings, including its quarterly reports on Form 10-Q and its annual report on Form 10-K. Avalon is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Contacts: Avalon Pharmaceuticals, Inc. ChemDiv, Inc. Gary Lessing Nikolay Savchuk Executive Vice President & CFO President and CEO Tel: (301) 556-9900 11558 Sorrento Valley Road Fax: (301) 556-9910 San Diego, Ca, 92121 Email: Tel: (858) 794-4860 Fax: (858) 794-4931 Additional contacts for Avalon: Noonan Russo Wendy Lau (Media) Bill Farley, Sr Director BD Tel: (212) 845-4272 Tel: (516) 318-2150 Matthew Haines (Investors) Tel: (212) 845-4235 DATASOURCE: Avalon Pharmaceuticals, Inc.; ChemDiv, Inc. CONTACT: Gary Lessing, Executive Vice President & CFO, Avalon Pharmaceuticals, Inc., +1-301-556-9900, Fax: +1-301-556-9910, ; Additional contacts for Avalon - Wendy Lau (Media), +1-212- 845-4272, or Matthew Haines (Investors), +1-212-845-4235, both of Noonan Russo; Nikolay Savchuk, President and CEO, +1-858-794-4860, Fax: +1-858-794- 4931, , or Bill Farley, Sr Director BD, +1-516-318-2150, , both of ChemDiv, Inc.

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