Abraxis BioScience and the California NanoSystems Institute Announce Partnership for Collaborative Research in the Development o

  
    
  
  
    
      Abraxis BioScience, Inc. (NASDAQ:ABBI), an integrated, global 
      biopharmaceutical company, and the California NanoSystems Institute at 
      UCLA today announced a partnership designed to collaborate on early 
      research in nanobiotechnology for the advancement of new technologies in 
      medicine.
    
    
      Abraxis BioScience will collaborate with the CNSI and its team of 
      leading researchers to capitalize on the explosion of scientific insight 
      and create the future of nanotechnology within biotechnology. Abraxis 
      has agreed to contribute $10 million over ten years to fund 
      collaborative projects in the new CNSI building at UCLA. The 
      Abraxis/CNSI Research Collaboration Lab space will focus on �translational 
      science,� where scientific discovery is 
      intended to quickly be translated into practical application.
    
    
      Abraxis BioScience has joined the CNSI Partners Program and is the 
      Institute�s first partner in the area of 
      pharmaceuticals and biotechnology. The partnership provides CNSI and 
      Abraxis researchers the opportunity to jointly pursue innovative 
      approaches to the diagnosis and treatment of life-threatening diseases, 
      leveraging the complementary resources and skills of both organizations. 
      To further support the partnership, visiting scholars from other 
      institutions will also be participating in the collaborative research 
      programs.
    
    
      �We are very excited about this research 
      collaboration with the CNSI and believe this type of relationship 
      emphasizes our commitment toward pursuing innovative research and 
      forging new paradigms of drug discovery and personalized drug 
      development,� said Patrick Soon-Shiong, M.D., 
      Chairman and Chief Executive Officer of Abraxis BioScience. �This 
      relationship allows both organizations to gain access to important 
      research that may have the potential to change the way diseases are 
      treated.�
    
    
      �We are eager to collaborate with Abraxis 
      BioScience. Cross-disciplinary collaboration is vital to our research 
      efforts,� said Dr. Fraser Stoddart, Director 
      of the CNSI and Fred Kavli Chair of NanoSystems Sciences at UCLA. �The 
      exciting thing about nanosystems research is that it is bringing about a 
      sea change in the academic environment � it is 
      breaking down the barriers between disciplines to achieve a seamless 
      integration between chemistry, physics, biology and engineering in all 
      of their different forms.�
    
    
      �Abraxis has an established history of 
      developing innovative technology,� said Dr. 
      Leonard H. Rome, Associate Director of the CNSI and Senior Associate 
      Dean for Research at the David Geffen School of Medicine, UCLA. �We 
      are confident they will be a strong and committed partner in furthering 
      important research and the development of drugs to treat 
      life-threatening and debilitating illnesses.�
    
    
      About the CNSI
    
    
      The California NanoSystems Institute (CNSI) is a multidisciplinary 
      research center at UCLA whose mission is to encourage university�industry 
      collaboration and to enable the rapid commercialization of discoveries 
      in nanosystems. CNSI members include some of the world�s 
      preeminent scientists, and the work conducted at the institute 
      represents world-class expertise in five targeted areas of 
      nanosystems-related research: renewable energy, environmental 
      nanotechnology and nanotoxicology, nanobiotechnology and biomaterials, 
      nanomechanical and nanofluidic systems, and nanoelectronics, photonics 
      and architectonics. For additional information, visit www.cnsi.ucla.edu.
    
    
      About Abraxis BioScience, Inc.
    
    
      Abraxis BioScience, Inc. is an integrated global biopharmaceutical 
      company dedicated to meeting the needs of critically ill patients. The 
      company develops, manufactures and markets one of the broadest 
      portfolios of injectable products and leverages revolutionary technology 
      such as its nab� platform to discover 
      and deliver breakthrough therapeutics that transform the treatment of 
      cancer and other life-threatening diseases. The first FDA approved 
      product to use this nab platform, ABRAXANE�, 
      was launched in 2005 for the treatment of metastatic breast cancer. 
      Abraxis trades on the Nasdaq Global Market under the symbol ABBI. For 
      more information about the company and its products, please visit www.abraxisbio.com.
    
    
      FORWARD-LOOKING STATEMENT
    
    
      The statements contained in this press release that are not purely 
      historical are forward-looking statements within the meaning of Section 
      21E of the Securities Exchange Act of 1934, as amended. Forward-looking 
      statements in this press release include statements regarding our 
      expectations, beliefs, hopes, goals, intentions, initiatives or 
      strategies, including statements regarding the collaboration with CNSI. 
      Because these forward-looking statements involve risks and 
      uncertainties, there are important factors that could cause actual 
      results to differ materially from those in the forward-looking 
      statements. The development of technologies and products through the 
      collaboration could be affected by a number of factors, including 
      unexpected safety, efficacy or other issues, additional time 
      requirements for data analyses and decision making, the impact of 
      pharmaceutical industry regulation, the impact of competitive products 
      and pricing and the impact of patents and other proprietary rights held 
      by competitors and other third parties. Additional relevant information 
      concerning risks can be found in Abraxis BioScience�s 
      Form 10-K for the year ended December 31, 2006 and other documents it 
      has filed with the Securities and Exchange Commission.
    
    
      The information contained in this press release is as of the date of 
      this release. Abraxis assumes no obligations to update any 
      forward-looking statements contained in this press release as the result 
      of new information or future events or developments.