AVM Advanced Magnetics

Advanced Magnetics Included in New Russell Microcap Index CAMBRIDGE, Mass., July 25 /PRNewswire-FirstCall/ -- Advanced Magnetics, Inc. (AMEX:AVM) today announced that the company was included in the new Russell Microcap(TM) Index when Russell Investment Group reconstituted its family of US indexes on June 24, 2005. The Russell Microcap Index measures performance of the microcap segment of the US equity market. "We are pleased to become part of the new Russell Microcap Index as this will give the company additional exposure in the financial community," said Jerome Goldstein, Chairman, President and CEO of Advanced Magnetics. "We believe that exposure will benefit our shareholders as we anticipate important milestones in our development efforts for ferumoxytol and our continued regulatory efforts for Combidex(R)." The Russell Microcap Index includes the smallest 1,000 securities in the small-cap Russell 2000 Index plus the next 1,000 smallest securities. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $2.5 trillion in assets currently are benchmarked to the Russell indexes. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index. Russell recently posted the membership list for the Russell Microcap at http://www.russell.com/US/Indexes. About Advanced Magnetics Advanced Magnetics, Inc. is a developer of superparamagnetic iron oxide nanoparticles used in pharmaceutical products. As a leader in our field, we are dedicated to the development and commercialization of our proprietary nanoparticle technology for use in therapeutic iron compounds to treat anemia, as well as novel imaging agents to aid in the diagnosis of cardiovascular disease and cancer. For more information about us, please visit our website at http://www.advancedmagnetics.com/, the content of which is not part of this press release. This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Any statements contained in this press release that do not describe historical fact, including statements regarding exposure the company will receive from its addition to the Russell Microcap Index and the benefit to our shareholders therefrom, and the anticipated milestones in our efforts to develop and obtain approval for ferumoxytol and Combidex are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include the following: (1) the possibility that we may not be able to successfully complete the clinical development of ferumoxytol, one of our two products currently under development, or may not be able to complete the development in a timely manner and cost-effective manner, due to the timing of enrollment of patients in the Phase III studies, unexpected results from our clinical sites, inadequate performance by third-party service providers involved in the conduct of the clinical trials, deficiencies in the design or oversight by us of these studies, or any other factor causing a delay in or negatively affecting the results of the clinical studies for ferumoxytol; (2) the possibility that the results of past ferumoxytol studies may not be replicated in future studies; (3) uncertainties surrounding the timing and results of FDA interactions regarding the clinical development of ferumoxytol; (4) the possibility that we may not be able to timely or cost-effectively resolve the questions raised by the FDA and satisfy the conditions specified for approval of Combidex, including the provision of additional data or the conduct of additional clinical trials to demonstrate the efficacy of Combidex; (5) uncertainties relating to our ability to continue to operate at commercial scale in compliance with FDA regulations and other applicable manufacturing requirements when producing Combidex or ferumoxytol; and (6) uncertainties relating to patents and proprietary rights and other risks identified in our Securities and Exchange Commission filings. We caution readers not to place undue reliance on any forward-looking statements which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Contact: Jerome Goldstein, CEO or Lisa Gordon, VP of Business Development Advanced Magnetics, Inc. (617) 497-2070 DATASOURCE: Advanced Magnetics, Inc. CONTACT: Jerome Goldstein, CEO, or Lisa Gordon, VP of Business Development, both of Advanced Magnetics, Inc., +1-617-497-2070 Web site: http://www.advancedmagnetics.com/ http://www.russell.com/US/Indexes

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