FYI-INFINITY PRESIDENT RECEIVES 25TH AACR-BRUCE F. CAIN

[Guest guest]

INFINITY PRESIDENT AND CHIEF SCIENTIFIC OFFICER RECEIVES 25TH AACR-BRUCE F.

CAIN AWARD

-- n , Ph.D. honored for groundbreaking research in cancer drug

discovery --

CAMBRIDGE, Mass. – April 5, 2006 – Infinity Pharmaceuticals, Inc. today

announced that n , Ph.D., President and Chief Scientific Officer of

Infinity Pharmaceuticals, Inc., is the recipient of the 25th annual American

Association for Cancer Research (AACR)-Bruce F. Cain Memorial Award. The award

recognizes an individual or research team for outstanding preclinical

research in the fields of medicinal chemistry, biochemistry, or tumor biology

as

related to drug discovery that has implications for the improved care of cancer

patients; it encompasses anticancer, antiviral, and antifungal agents.

Dr. is being honored for the synthesis of the first selective

proteasome inhibitor, bortezomib (VELCADE), for recognizing the potential of

a

proteasome inhibitor as a novel cancer therapeutic, and for appreciating the

relationship between the proteasome, NF-κB and multiple myeloma.

“n is very deserving of this honor given his accomplishments in

advancing the discovery and development of novel and important treatments for

cancer

patients,†said H. Holtzman, Chief Executive Officer, Infinity. “

This award is indicative of n’s expertise in and dedication to drug

discovery and Infinity is fortunate to have him directing and mentoring our

team.â€

The Cain Award will be presented during the 97th AACR Annual Meeting being

held in Washington, DC. As the 2006 recipient, Dr. will receive an

honorarium $10,000 and will deliver one of the meeting’s key lectures. Dr.

will present " The Proteasome and Cancer: The Discovery and Development of

VELCADE, " at 9:00 a.m. EDT, April 5, in Ballroom A-B of the Washington

Convention Center.

Dr. , a recognized leader in drug discovery and development, was

selected to receive the Cain Award for his groundbreaking research and

development

of PS-341, now marketed as VELCADE, for the treatment of multiple myeloma.

This small molecule represents a new target area for anticancer agents and

proves the ultimate benefit to cancer patients of targeted therapies.

Work on proteasome inhibition prompted Dr. to consider the Heat Shock

Protein 90 (Hsp90) inhibition as another way in which to selectively target

cancer cells’ aberrant protein management. IPI-504, Infinity’s lead product

candidate, is a targeted cancer therapy that preferentially induces the death

of cancer cells through Hsp90 inhibition. IPI-504 is currently in phase I

clinical trials in both multiple myeloma and gastrointestinal stromal tumors

(GIST).

Dr. joined Infinity as Chief Scientific Officer in October 2003 and

was recently named President of the Company. He has a track record of

successfully discovering and developing several first-in-class agents,

including

VELCADE, and before that, Viramune, the first non-nucleoside reverse

transcriptase inhibitor for the treatment of HIV. Dr. received his Ph.D.

from

the Massachusetts Institute of Technology in the field of synthetic organic

chemistry. He has received many awards, including the 2001 Ribbon of Hope Award

for VELCADE from the International Myeloma Foundation. Dr. is an

inventor of over 40 patents and has authored over 100 papers and book chapters

in

peer-reviewed journals.