OnNovember 18 2008 NitroMed and Archemix Corp

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(NASDAQ: NTMD) said today that on Friday, January 9, 2009,NitroMed received a letter from Deerfield Management increasing Deerfieldsunsolicited proposal to acquire the company from $0.50 per share in cash to$0.65 per share in cash. There can be noassurance that any agreement will be reached with Deerfield for any transactioninvolving NitroMed. About NitroMedNitroMed of Lexington, Massachusetts is the maker of BiDil (isosorbidedinitrate/hydralazine hydrochloride), an orally administered medicine availablein the United States for the treatment of heart failure in self-identified blackpatients. In this population, BiDil is indicated as an adjunct to currentstandard therapies such as angiotensin converting enzyme (ACE) inhibitors andbeta blockers.

There is little experience in patients with New York HeartAssociation Class IV heart failure BiDil was approved by the U.S. Food and DrugAdministration, primarily on the basis of efficacy data from the company'slandmark A-HeFT (African American Heart Failure Trial) clinical trial. For fullprescribing information, visit: On October 22, 2008, NitroMed entered into a purchase and sale agreement withJHP Pharmaceuticals, LLC, a privately held specialty pharmaceutical company,pursuant to which NitroMed has agreed to sell to JHP Pharmaceuticalssubstantially all of the assets related to NitroMed's BiDil and BiDil XR drugbusiness. The sale of the BiDil and BiDil XR drug business is subject toNitroMed stockholder approval and other customary closing conditions. OnNovember 18, 2008, NitroMed and Archemix Corp., a privately-heldbiopharmaceutical company, entered into a merger agreement, pursuant to whichArchemix has agreed to merge with NitroMed in an all-stock transaction. Themerger is subject to approval by Archemix's and NitroMed's stockholders,consummation of the sale of NitroMed's BiDil and BiDil XR drug business andother customary closing conditions. Important Additional Information Has Been Filed with the SECNitroMed has filed with the SEC and mailed to its stockholders a definitiveproxy statement in connection with the proposed sale of its BiDil and BiDil XRdrug business to JHP Pharmaceuticals, LLC.