Celsion Announces Collaboration With the University of Oxford for First Ever Clinical Trial Using a Targeted Chemotherapeutic Drug Released by Ultrasound to Treat Cancer

Celsion Corporation (NASDAQ: CLSN) today announced a collaboration with the University of Oxford to begin a clinical study of ThermoDox®, Celsion's heat-activated liposomal encapsulation of doxorubicin, in combination with ultrasound-guided High Intensity Focused Ultrasound (HIFU) to treat metastatic liver cancer. The early phase clinical study is being finalized and will require approval from a local Ethics Committee. Treatment of the first patient is targeted for late 2012. "Both Celsion and Oxford believe there is significant potential of combining ThermoDox® with HIFU to treat cancer," said Michael H. Tardugno, Celsion's President and Chief Executive Officer. "A ThermoDox®/HIFU trial will be an important step in demonstrating that ultrasound-induced hyperthermia can enable the highly targeted delivery of chemotherapeutic agents to tumours non-invasively. ThermoDox® can effectively deliver high concentrations of a proven chemotherapy to a heated tumor. ThermoDox® may be used with multiple heating technologies allowing for us to target an even larger population of patients with cancer."