SOUTH SAN FRANCISCO, CA--(Marketwire - Sep 26, 2012) - Threshold Pharmaceuticals, Inc. (NASDAQ: [ THLD ]) today announced that clinical data on its investigational hypoxia-targeted drug, TH-302, will be highlighted in two presentations during the European Society for Medical Oncology (ESMO) 2012 Congress taking place September 28 - October 2, 2012, in Vienna, Austria.

Phase 2b clinical data on TH-302 in combination with gemcitabine in patients with advanced pancreatic cancer will be the subject of an oral presentation on Saturday September 29, 2012 at 10:15 a.m. CEST / 4:15 a.m. ET (Abstract 666O). Phase 1/2 clinical data on TH-302 in combination with bevacizumab in patients with resectable recurrent glioblastoma will be the subject of a poster presentation on Sunday September 30, 2012 at 1 p.m. CEST / 7 a.m. ET (Abstract 435TiP).

Presentation materials and supplemental information will be posted under the Scientific Presentations and Publications section of the company's website [ www.thresholdpharm.com ] at the time of the presentations indicated above.

About TH-302
TH-302 is a hypoxia-targeted drug that is designed to be activated under tumor hypoxic conditions, a hallmark of many cancers. Areas of low oxygen levels (hypoxia) are common in many solid tumors due to insufficient blood vessel growth. Similarly, the bone marrow of patients with hematological malignancies has also been shown, in some cases, to be extremely hypoxic.

TH-302 has been investigated in over 700 patients in Phase 1/2 clinical trials to date in a broad spectrum of tumor types, both as a monotherapy and in combination with chemotherapy treatments and other targeted cancer drugs. Threshold has several additional ongoing clinical trials, the most advanced of which is a Phase 3 pivotal study evaluating TH-302 in combination with doxorubicin versus doxorubicin alone in patients with soft tissue sarcoma. In February 2012, Threshold signed a global license and co-development agreement for TH-302 with Merck KGaA, Darmstadt, Germany.

About Threshold Pharmaceuticals
Threshold is a biotechnology company focused on the discovery and development of drugs targeting Tumor Hypoxia, the low oxygen condition found in microenvironments of most solid tumors as well as the bone marrows of some hematologic malignancies. This approach offers broad potential to treat a variety of cancers. By selectively targeting tumor cells, we are building a pipeline of drugs that hold promise to be more effective and less toxic to healthy tissues than conventional anticancer drugs. For additional information, please visit our website ([ www.thresholdpharm.com ]).

Forward-Looking Statements
Except for statements of historical fact, the statements in this press release are forward-looking statements, including statements regarding the potential therapeutic uses and benefits of TH-302 to treat patients with cancer. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Threshold's ability to enroll or complete its anticipated clinical trials, the time and expense required to conduct such clinical trials and analyze data, issues arising in the regulatory or manufacturing process and the results of such clinical trials (including product safety issues and efficacy results). Further information regarding these and other risks is included under the heading "Risk Factors" in Threshold's Quarterly Report on Form 10-Q, which has been filed with the Securities and Exchange Commission on August 6, 2012 and is available from the SEC's website ([ www.sec.gov ]) and on our website ([ www.thresholdpharm.com ]) under the heading "Investors." We undertake no duty to update any forward-looking statement made in this news release.