HBY Hybridon

Idera is Developing Targeted Immune Therapies Based on Toll-like Receptors CAMBRIDGE, Mass., Sept. 12 /PRNewswire-FirstCall/ -- Hybridon, Inc. (AMEX:HBY) announced today that it has changed its name to Idera Pharmaceuticals, Inc. (AMEX:IDP). Idera common shares will begin trading under a new American Stock Exchange symbol 'IDP' on Tuesday, September 13, 2005. The Company's new website is located at http://www.iderapharma.com/. (Logo: http://www.newscom.com/cgi-bin/prnh/20050912/NEM028LOGO ) "This name change signifies a new era for our Company and reflects the significant progress we have made in the development of targeted immune therapies based on Toll-like receptors" commented Sudhir Agrawal, D.Phil., President and CEO of Idera Pharmaceuticals. "We believe that our immune modulatory oligo (IMO(TM)) therapies are broadly applicable for developing products for the treatment of many diseases. Our lead IMO candidate is in Phase 2 clinical testing for cancer, and we are collaborating with Novartis for the discovery and development of IMOs for treating asthma and allergies." Idera Highlights * Portfolio of Immune Modulatory Oligonucleotide (IMO(TM)) compounds as agonists of Toll-like Receptor 9 (TLR9) * Growing patent estate with over 100 issued and pending patent applications worldwide. * Lead candidate IMO-2055 (IMOxine(R)) in Phase 2 trials for patients with Renal Cell Carcinoma; Phase 1 data presented at ASCO, May 2005; chemotherapy combination trial in cancer patients planned to begin in the fourth quarter of 2005 * Broad therapeutic potential of IMO technology platform * Alliance with Novartis International Pharmaceuticals Ltd. to discover and develop IMO candidates for the treatment of asthma and allergies * Identification of lead preclinical IMO candidate with induction of high interferon-alpha levels * Initial clinical data presented on the use of IMO as an adjuvant in combination with our licensee, the Immune Response Corporation's HIV vaccine About Idera's TLR9 Candidates Toll-like Receptors (TLRs), are immune system receptors that recognize elements of pathogens such as bacteria and trigger a defensive immune response. Idera's IMO compounds mimic bacterial DNA and are specifically identified by Toll-like Receptor 9 (TLR9). When TLR9 is activated, it stimulates a response that involves multiple immune system components acting to fight disease through both innate and adaptive immunity. Idera's IMO drug candidates have potential applications in a wide variety of diseases, such as cancer and infectious diseases as well as asthma and allergies, and in combination with vaccines. About Idera Pharmaceuticals, Inc. Idera Pharmaceuticals, Inc. is a biotechnology company focused on the discovery, development, and commercialization of targeted immune therapies based on modulation of TLRs. Idera has identified novel chemical entities based on proprietary DNA structures (IMO) that modulate immune responses through interactions with the TLR9. The Company continues to identify new drug candidates specific to various diseases, including cancer, infectious diseases and asthma/allergies, based on the differentiated biological activities of its IMO compounds. The Company's website is located at http://www.iderapharma.com/. Idera Pharmaceuticals (AMEX:IDP) is based in Cambridge, Massachusetts. Idera's lead candidate is IMO-2055, a TLR9 agonist currently in Phase 2 clinical testing for cancer. Idera is also collaborating with Novartis for the discovery, development, and commercialization of IMO drug candidates targeting asthma and allergies. Forward Looking Statements This press release contains forward-looking statements concerning Idera Pharmaceuticals, Inc. that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "estimates," "intends," "should," "could," "will," "may," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause Idera's actual results to differ materially from those indicated by such forward-looking statements, including whether products based on Idera's technology will advance through the clinical trial process on a timely basis or at all and receive approval from the United States Food and Drug Administration or equivalent foreign regulatory agencies; whether, if such products receive approval, they will be successfully distributed and marketed; whether Idera's cash resources will be sufficient to fund product development and clinical trials; and such other important factors as are set forth under the caption "Risk Factors" in Idera's Quarterly Report on Form 10-Q filed on August 9, 2005, which important factors are incorporated herein by reference. Idera disclaims any intention or obligation to update any forward-looking statements. Contacts: Hybridon, Inc. MacDougall Biomedical Idera Pharmaceuticals, Inc. Communications 617-679-5500, x5517 508-647-0209 x12 Robert G. Andersen Douglas MacDougall E-mail: http://www.newscom.com/cgi-bin/prnh/20050912/NEM028LOGO http://photoarchive.ap.org/ DATASOURCE: Hybridon, Inc. CONTACT: Robert G. Andersen, Hybridon, Inc., Idera Pharmaceuticals, Inc., 617-679-5500, x5517, or ; Douglas MacDougall, MacDougall Biomedical Communications, 508-647-0209 x12 Web site: http://www.iderapharma.com/

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