Data from AVEO's tivozanib-FOLFOX6 combination Phase 1b trial presented at 22nd EORTC-NCI-AACR

AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, today announced that new clinical data from a Phase 1b trial evaluating the company's lead product candidate, tivozanib, a highly potent and selective inhibitor of VEGF receptors 1, 2, and 3, in combination with FOLFOX6, a standard chemotherapy regimen, will be presented during the 22^nd Annual Symposium of the European Organization for Research and Treatment of Cancer-National Cancer Institute-American Association for Cancer Research (EORTC-NCI-AACR) being held November 16-19, 2010 in Berlin, Germany. Additional preclinical data evaluating tivozanib in AVEO's proprietary tumor models and preclinical data from the company's anti-fibroblast growth factor receptor (FGFR) antibody program will also be presented.

“Tivozanib is the most potent and selective inhibitor of VEGF receptors 1, 2 and 3, and we believe tivozanib's promising tolerability and efficacy profile suggests the potential for broad applicability and combinability with chemotherapies and other targeted agents in multiple tumor types.”

"We look forward to sharing these new data from our ongoing clinical trial evaluating tivozanib in combination with FOLFOX6 chemotherapy regimen with our peers in the oncology community," said William Slichenmyer, M.D., Sc.M., chief medical officer at AVEO. "Tivozanib is the most potent and selective inhibitor of VEGF receptors 1, 2 and 3, and we believe tivozanib's promising tolerability and efficacy profile suggests the potential for broad applicability and combinability with chemotherapies and other targeted agents in multiple tumor types."

The schedule for AVEO poster presentations at EORTC-NCI-AACR is as follows:

In addition, Robert Motzer, M.D., attending physician at Memorial Sloan-Kettering Cancer Center and lead investigator of TIVO-1, a global Phase 3 clinical trial evaluating tivozanib compared to sorafenib in patients with advanced renal cell cancer (RCC), will report on previously presented tivozanib clinical data in patients with advanced RCC at 9:50 a.m. (EST) on November 12, 2010 during the 28^th Annual Chemotherapy Foundation Symposium (CFS) at the Marriott Marquis in New York City.