Nuvelo Added to Nasdaq Biotechnology Index

Nuvelo Added to Nasdaq Biotechnology Index 


SUNNYVALE, Calif., May 17  /PRNewswire-FirstCall/ -- Nuvelo, Inc.  today
announced it has been selected to be included in the Nasdaq Biotechnology Index
.

The Company's inclusion in the Index will become effective on Monday, May 24,
2004. All securities in the Index are listed on the Nasdaq National Market and
meet minimum requirements including market value, average daily share volume
and seasoning as a public company.

Launched in 1993, the Nasdaq Biotech Index includes companies classified
according to the FTSE(TM) Global Classification System as either biotechnology
or pharmaceutical. The Index is ranked on a semi-annual basis in May and in
November and serves as the basis for the iShares Nasdaq Biotechnology Index
Fund(SM) (IBB). For more information about the Nasdaq Biotechnology Index,
including eligibility criteria, visit http://www.nasdaq.com/.

About Nuvelo

Nuvelo, Inc. is engaged in the discovery, development and commercialization of
life improving therapeutics for the treatment of human disease. Nuvelo's lead
product candidate, alfimeprase, is being developed in collaboration with Amgen
and is currently in two Phase 2 trials in two indications, peripheral arterial
occlusion and catheter occlusion. Additional programs include cardiovascular
product candidates ARC183 and rNAPc2 and drug discovery focused on antibody
targets and secreted proteins.

Information about Nuvelo is available at our new Web site at
http://www.nuvelo.com/ or by phoning 408-215-4000.

Statements contained in this press release which are not historical in nature,
are intended to be, and are hereby identified as "forward-looking statements"
for purposes of the safe harbor provided by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be identified by words such
as "believe," "expect," "anticipate," "should," "may," "estimate," "goals," and
"potential," among others. Such statements are based on our management's
current expectations and involve risks and uncertainties. Actual results and
performance could differ materially from those projected in the forward-looking
statements as a result of many factors, including, without limitation,
uncertainties relating to drug discovery, clinical development processes and
the development and commercialization of our molecular diagnostics technology;
changes in relationships with strategic partners and dependence upon strategic
partners for the performance of critical activities under collaborative
agreements; the impact of competitive products and technological changes;
uncertainties relating to patent protection and regulatory approval; and
uncertainties relating to our ability to obtain substantial additional funds
required for progress in drug discovery and development. These and other
factors are identified and described in more detail in Nuvelo filings with the
SEC, including without limitation Nuvelo's annual report on Form 10-K for the
year ended December 31, 2003 and form 10-Q for the quarter ended March 31,
2004.  We disclaim any intent or obligation to update these forward-looking
statements. 

DATASOURCE: Nuvelo, Inc.



CONTACT:  Pete Garcia, Sr. VP and Chief Financial Officer,

[phone], or , or Nicole Estrin, Manager of Corporate

Communications & IR, [phone], or 



Web site:  http://www.nuvelo.com/ 

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