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Threshold CEO Named as Finalist for European Inventor Award

SOUTH SAN FRANCISCO, CA -- (Marketwired) -- 05/06/14 -- Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) today announced that Harold E. "Barry" Selick, Ph.D., Chief Executive Officer of Threshold and Cary L. Queen, Ph.D., President of Galaxy Biotech, have been jointly named as finalists for the European Inventor Award 2014 in the "Non-European Countries" category. Their nomination is in recognition of their work while at Protein Design Labs, Inc. ("PDL") in inventing the humanized monoclonal antibody technology that is embodied in numerous therapeutics such as Avastin® and Herceptin®, as well as Zenapax®, which was the first humanized antibody therapeutic that was approved as a drug by the U.S. Food & Drug Administration (FDA) and which was PDL's first product. Dr. Queen, who led the antibody humanization program, was the co-founder and head of research at PDL while Dr. Selick was a staff scientist working with him at the time. The final award ceremony at which the winners in each of 5 different categories will be announced will take place in Berlin, Germany, on June 17, 2014.

About the European Inventor Award

The European Inventor Award pays tribute to the creativity of inventors the world over, who use their technical, scientific and intellectual skills to make a real contribution to technological progress and economic growth and so improve people's daily lives. Launched by the European Patent Office (EPO) in 2006, the award gives inventors the recognition they deserve, and helps to encourage creativity and innovation. Any member of the public can nominate an inventor for the European Inventor Award. The selection process relies on the hard work of EPO experts and an independent international jury that evaluates innovations not only on their technological originality but also on their economic and social impact.

About Threshold Pharmaceuticals

Threshold Pharmaceuticals, Inc. 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).

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