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Myrexis Reports Fiscal Year 2010 Results

Data for MPC-3100, a novel, fully-synthetic, small molecule Hsp90 inhibitor that is differentiated by its broad therapeutic index and oral bioavailability was also published at the annual ASCO meeting in June. The abstract included interim results from a Phase 1 clinical trial in relapsed or refractory cancers. Importantly, the study has demonstrated that patients can safely achieve drug levels which significantly exceed the drug levels observed to be safe and efficacious in non-clinical models. The trial is expected to be completed by the end of calendar year 2010.

In addition to its lead clinical programs, the Company's preclinical research efforts have gained significant traction over the past 12 months:

Preclinical studies of MPC-9528 (formerly MPI-0486348) were discussed in two presentations during the annual AACR meeting in April 2010. Validated through the Myrexis chemical proteomics platform, MPC-9528 is an inhibitor of cancer metabolism and Nicotinamide phosphoribosyltransferase (Nampt). MPC-9528 is potentially effective against a broad spectrum of cancer cells, with demonstrated activity against a wide range of tumor tissue types. Myrexis expects to complete preclinical studies in the first half of calendar year 2011.

Additional preclinical studies of MPC-9528 have identified the opportunity to develop the compound with a highly predictive companion diagnostic test. Early data suggests that as many as 40% of all tumors will be particularly sensitive to MPC-9528.

At the Federation of American Societies for Experimental Biology annual meeting in April 2010, Myrexis presented data on its newest IND candidate, the oral anti-interferon MPI-485520, which targets protein kinase IKK epsilon. Myrexis has initially targeted IKK epsilon for development against certain cancers. Results in the September 2009 issue of Cell also indicated its potential in obesity, diabetes, and associated inflammatory diseases (Chiang, et al, (2009), Cell 138, 961-975). The Company is currently focusing this program on rheumatoid arthritis and lupus. Results to be presented by the Company's scientists at American College of Rheumatology meeting in November will further validate these applications.

Fourth Quarter and Fiscal Year 2010 Results

"June 30, 2010 concluded our first year as an independent publicly traded company. We have continued to build long-term shareholder value through the continued development of our clinical and preclinical pipeline," said Robert Lollini, Chief Financial Officer and Treasurer; "in addition, we continue to have a strong cash position to fund the next stage of development of our entire oncology pipeline during the coming year."

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