Press Release

Newton, Mass. (September 13, 2010) -- Pro-Pharmaceuticals, Inc. (OTC: PRWP), Pro-Pharmaceuticals, Inc., the leading developer of therapeutics that target Galectin receptors to treat cancer and fibrosis, today announced that it has engaged the Numoda Corporation, a leading information, process and logistics management company, to oversee the Phase III clinical trial of DAVANAT® and 5-FU compared with the standard of care in the treatment of patients with advanced, metastatic colorectal cancer.

“With this collaboration, we will optimize both time and cost, which we believe will provide us positive results, faster, in the continued path to a New Drug Application (NDA) for our DAVANAT® compound,” said Theodore Zucconi, PhD., Pro-Pharmaceuticals’ Chief Executive Officer, “By engaging Numoda for the management of the trial data and subcontractors, we believe the data accuracy and time for analysis will be significantly less.”

Numoda is developing a complete project plan and budget. After approval of the plan, Numoda will be responsible for helping to manage the Pro-Pharmaceuticals clinical trial, including integration, oversight and logistical functions, providing 24x7 visibility through a single interface to all clinical research organizations, contract laboratories and statistical groups’ activities and progress.

“Numoda offers extensive systems, tools, experience and powerful resources for executing dependable clinical trials with precision and efficiency as well as managing trial expense,” said Peter Traber, M.D., Chief Medical Officer of Pro-Pharmaceuticals. “We are looking forward to this partnership in our endeavor to expedite the Phase III clinical trial for DAVANAT® as quickly and efficiently as possible.”


“Pro-Pharmaceuticals is very fortunate to have someone of the caliber and vision of Dr. Peter Traber to run this program and we are delighted to put our infrastructure, systems and tools at his disposal”, said Christopher Mather, Senior Vice President, Business Affairs, Numoda Corporation.


About DAVANAT®

DAVANAT®, the Company's lead product candidate, is a polysaccharide polymer that targets Galectin receptors on cancer cells and interferes with their activity. Peer-reviewed studies have demonstrated that Galectins affect cell development and play important roles in cancer, including tumor cell survival, angiogenesis, tumor metastasis and give the tumor the ability to evade the immune system. To date, DAVANAT® has been administered to approximately 100 cancer patients. Data from a Phase II trial for end-stage colorectal cancer patients showed that DAVANAT® in combination with 5-FU extended median survival to 6.7 months compared to 4.6 months for best standard of care as determined by the patients’ physicians. Clinical trial results also showed that patients experienced fewer serious adverse side effects of the chemotherapy and required less hospitalization, resulting in an improved quality of life.


About Pro-Pharmaceuticals, Inc.

Pro-Pharmaceuticals, OTC: PRWP, is a leader in the field of Galectin therapeutics and is engaged in the discovery, development and commercialization of therapeutics that target Galectin receptors for advanced treatment of cancer and fibrosis. Initially, the product pipeline is focused on increasing the efficacy and decreasing the toxicity of chemotherapy drugs. The Company is headquartered in Newton, Mass. Additional information is available at www.pro-pharmaceuticals.com.

Numoda Corporation

Numoda Corporation is the world’s most innovative and complete technology solutions provider for the clinical, logistical and financial management of medical research in the life sciences industry. Numoda has made drug development a much smarter, faster and less risky process with its pioneering and patented means for integrating and presenting through a single interface the entire body of clinical research in global studies from every source (e.g., investigator sites, labs, imaging centers, interactive voice/web response systems, patient diaries, drug supply chains, etc.). Through an investment affiliate, Numoda also helps clients advance their medical research through funding and facilitating strategic partnerships. Visit Numoda Corporation at www.numoda.com.


FORWARD LOOKING STATEMENTS: Any statements in this news release about future expectations, plans and prospects for the Company constitute forward-looking statements as defined in the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in such statements. We caution investors that actual results or business conditions may differ materially from those projected or suggested in forward-looking statements as a result of various factors and not place undue reliance on forward-looking statements.

More information about those risks and uncertainties is contained and discussed in the Company’s most recent quarterly or annual report and in the Company’s other reports filed with the Securities and Exchange Commission. The forward-looking statements represent the Company’s views as of the date of this news release and should not be relied upon to represent the Company’s views as of a subsequent date. While the Company anticipates that subsequent events may cause the Company’s views to change, the Company disclaims any obligation to update such forward-looking statements.


DAVANAT is a registered trademark of Pro-Pharmaceuticals.

Investor Contact: Pro-Pharmaceuticals, Inc., Anthony D. Squeglia: 1.617.559.0033; squeglia@pro-pharmaceuticals.com.

Media Contact: Joanne Hogue, LVA Communications, 1.410.658.8246; Joanne@lva.com.