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910PreTarget Press Release

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  • Janice and Ben Haines
    Sep 29, 1998
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      Greetings,
      Here is a press release showing an update on PreTarget which we are
      tracking. It looks like things didn't go well with Avicidin(R) anti-Epcam
      antibody for colon and prostate cancer but note they are "continuing to
      develop our Pretarget(R) technology through our lymphoma program that uses
      an anti-CD20 antibody.''

      Regards,
      -Ben(KIA)
      ---8<----8<----

      Tuesday September 29, 4:59 pm Eastern Time

      Company Press Release

      Janssen Terminates Avicidin Agreement with NeoRx

      SEATTLE--(BUSINESS WIRE)--Sept. 29, 1998--NeoRx Corp. (Nasdaq:NERX - news)
      today announced that Janssen Pharmaceutica N.V. will terminate its
      Avicidin(R) agreement with NeoRx at the end of the calendar year.

      Janssen is currently completing Phase II trials in patients with advanced
      colon and prostate cancers. Although preliminary reports from investigators
      indicate evidence of some anti-tumor effects in each trial, unexpectedly
      high incidence of unacceptable diarrhea (believed to be due to
      cross-reactivity of the Avicidin(R) anti-Epcam antibody with the intestine)
      as well as greater decreases in blood counts occurred in these studies
      compared to the Phase I trial that established what was believed to be the
      appropriate dose to use in Phase II studies. All rights to the Avicidin(R)
      product and the underlying Pretarget(R) technology will revert to NeoRx,
      together with all data generated by the study.

      ``We are disappointed by Janssen's decision, but encouraged that the basic
      Pretarget(R) system appears to work'' said Paul G. Abrams, M.D., J.D.,
      NeoRx president and CEO. ``We will analyze the Avicidin(R) data when the
      studies are completed to determine what approaches might be useful. Better
      patient selection, dose modification or a different antibody that does not
      bind to intestine may reduce the unexpected side effects. We appreciate
      Janssen taking the product through the Phase II, single dose, murine
      antibody studies and for reimbursement of expenses. We are continuing to
      develop our Pretarget(R) technology through our lymphoma program that uses
      an anti-CD20 antibody.''

      To date, NeoRx has received $17 million from the Avicidin(R) agreement, in
      addition to expense reimbursements. The company has $32 million in cash to
      support its programs that include two ongoing clinical trials --
      Pretarget(R) lymphoma and Skeletal Targeted Radiation.

      Using a different antibody from that used in Avicidin(R), NeoRx is
      enrolling patients with relapsed B-cell lymphoma in a Pretarget(R) lymphoma
      Phase I trial. The company and its investigators believe that Pretarget(R)
      may deliver the same, or higher, doses of radiation that can be delivered
      using conventional antibody targeting in lymphoma patients, but without a
      costly bone marrow transplant.

      In the Skeletal Targeted Radiation trials, multiple myeloma patients
      receive escalating doses of the test agent, standard doses of chemotherapy,
      reduced doses of total body irradiation, and stem cell transplantation. The
      goal is to improve responses observed with the standard treatment of
      chemotherapy, total body irradiation and stem cell transplantation without
      increasing the side effects associated with this high dose therapy. The
      study is underway at two major cancer centers in the United States.

      NeoRx Corp. develops therapeutic products to treat cancer and
      cardiovascular diseases, with an initial focus on lymphoma, multiple
      myeloma, atherosclerosis, and restenosis after balloon angioplasty.

      Avicidin(R) and Pretarget(R) are registered trademarks of NeoRx Corp.

      This release contains forward-looking statements relating to the
      development of the company's products and future operating results that are
      subject to certain risks and uncertainties that could cause actual results
      to differ materially from those projected. The words ``believe,''
      ``expect,'' ``intend,'' ``anticipate,'' variations of such words, and
      similar expressions identify forward-looking statements, but their absence
      does not mean that the statement is not forward- looking. These statements
      are not guarantees of future performance and are subject to certain risks,
      uncertainties and assumptions that are difficult to predict. Factors that
      could affect the company's actual results include the progress and costs of
      clinical trials and the timing of regulatory approvals. Reference is made
      to the company's latest Annual Report on Form 10-K filed with the
      Securities and Exchange Commission for a more detailed description of such
      factors. Readers are cautioned not to place undue reliance on these
      forward-looking statements that speak only as of the date of this release.
      The company undertakes no obligation to publicly update any forward-looking
      statement to reflect new information, events or circumstances after the
      date of this release or to reflect the occurrence of unanticipated events.

      Visit NeoRx at www.neorx.com

      Contact:

      NeoRx Brad Ogura, Manager, Investor Relations 206/281-7001, ext. 502 OR
      Dewe Rogerson Inc. Juliane Snowden (investors) Elissa Grabowski (media)
      212/688-6840