Entelos Cancels Escrow Shares Related to Iconix Biosciences, Inc. Acquisition

    


Entelos Inc.

Entelos, Inc. (LSE: ENTL) announces today that it has completed the review and
reconciliation process with respect to computing the number of shares of Entelos
common stock, if any, to be issued to former shareholders of Iconix Biosciences,
Inc. ("Iconix") as the "earn out payment" pursuant to the merger agreement
Entelos and Iconix entered into in August 2007.

The merger agreement had provided for a potential maximum earn out payment of
$25 million in Entelos stock if certain financial milestones were achieved
during the first year post-closing. In connection with this potential earn out
payment, the Company had issued 7,935,328 Entelos shares into an escrow account
in the fall of 2007. The review and reconciliation process required by the
merger agreement has been completed and the Company and the Iconix stockholder
representative have determined that there is no earn out payment due to former
shareholders of Iconix. All escrow shares have thus been returned to the Company
and cancelled and no shares will be issued to former shareholders of Iconix as
earn-out payment.

Accordingly, as at the date of this announcement, Entelos' issued share capital
has been reduced to 69,561,887 ordinary shares.

Enquiries

Entelos, Inc.
Alan Blazei, Chief Financial Officer                                         Tel: [phone]
Jill Fujisaki, Vice President, Investor Relations

KBC Peel Hunt, Ltd (Nominated Advisor and Broker)
Capel Irwin/David Anderson                                               Tel [phone]

Buchanan Communications
Lisa Baderoon                                                            Tel [phone]
Mary-Jane Johnson

About Entelos

Entelos, Inc. (www.entelos.com) is a US-based life sciences company applying
next-generation predictive technologies to revolutionize the way medicines are
discovered, developed, and utilized. The Company leverages its proprietary in
silico disease models, "virtual human" technology, and toxicology reference
systems to develop safer and more effective drugs, improve the quality of
health-related consumer products, and deliver on the promise of personalized
medicine. Entelos provides customized products, technology and research services
to global pharmaceutical, health-care, and consumer products companies in safety
testing, arthritis, cardiovascular diseases, asthma, obesity, diabetes,
hematopoeisis (anemia), cholesterol metabolism, skin sensitization, and personal
care products.