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Jan. 28, 2008

Arno Therapeutics Completes License Agreements for the Exclusive Rights to Novel, Targeted Cancer Compounds

FAIRFIELD, N.J., Jan. 28, 2008 -- Arno Therapeutics, Inc., a privately held drug development company, announced that it has entered into worldwide, exclusive license agreements with The Ohio State University ("OSU") for the rights to commercially develop novel, orally available, targeted therapies for cancer.

Pursuant to the license agreements, Arno acquired the rights to several small molecules for the treatment of cancer, including OSU-03012 (NSC D728209) and OSU-HDAC42 (NSC D736012). Both agents were developed by Ching-Shih Chen, Ph.D., a professor of pharmacy and internal medicine at Ohio State and a researcher in OSU's Comprehensive Cancer Center.

OSU-03012 is a PDK-1 inhibitor that targets the Akt pathway, and also possesses activity in alternate pathways to target apoptosis and angiogenesis.

Preclinical data have demonstrated activity in multiple tumor types and synergistic activity with other agents including Avastin(R), Herceptin(R), Tarceva(R), Gleevec(R) and tamoxifen.

OSU-HDAC42 is a broad spectrum histone-deacetylase inhibitor which possesses additional mechanisms as well. In preclinical studies OSU-HDAC42 has demonstrated greater potency and a competitive profile in solid and liquid tumors when compared with vorinostat (SAHA), the leading marketed compound in the class.

"We are extremely pleased to be developing these two exciting and novel molecules for the treatment of cancer patients," said Scott Z. Fields, M.D., President and CMO of Arno. "We look forward to moving these molecules into the clinic and to hopefully bringing their benefits to patients who need them as soon as possible."

"The out-licensing of these two very important molecularly targeted oncology compounds to Arno Therapeutics is a significant milestone for Ohio State," said Dr. Michael Caligiuri, director of the Ohio State University Comprehensive Cancer Center and CEO of The James Cancer Hospital and Solove Research Institute. "These are the first two molecules for cancer treatment created entirely at OSU that will be brought into the cancer clinic."

Pursuant to the terms of the license agreement, Arno will pay development based milestones and royalties based on sales of the licensed products.

Arno plans to initiate Phase I clinical trials for both OSU-03012 and OSU-HDAC42 in 2009.

About Arno Therapeutics, Inc.

Arno Therapeutics is a biopharmaceutical company that develops and commercializes innovative products for the treatment of cancer patients. Arno is initially focusing its efforts on developing its lead compound, DB-67, a novel anti-cancer agent. DB-67 is a third generation campthothecin analogue that has demonstrated high potency and significantly improved pharmacokinetic properties as demonstrated by greater stability of the active lactone form in pre-clinical studies as compared with second-generation products. Arno is currently enrolling patients in a Phase I clinical trial. A key component of the Company's strategy is to acquire global rights to additional product candidates for the treatment of cancer while continuing to use its technology to develop and commercialize new products and line extensions. For more information on Arno please visit www.arnothera.com.

Contact:
Scott Z. Fields, M.D.
President and CMO
Arno Therapeutics, Inc.
(862) 703-7170
Email"> Email

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties that could cause our actual results and experiences to differ materially from anticipated results and expectations expressed in such forward-looking statement. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other governmental regulation, our pharmaceutical collaborator's ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, and product pricing and third party reimbursement. We undertake no obligation to update any forward-looking statement contained in this press release, except as required by law.




Arno Therapeutics, Inc.
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