SOURCE: Cleveland BioLabs, Inc.

June 12, 2007 12:52 ET

Cleveland BioLabs Set to Join Russell Microcap Index

CLEVELAND, OH--(Marketwire - June 12, 2007) - Cleveland BioLabs, Inc. (NASDAQ: CBLI) (BOST: CFB) today announced that it will join the Russell Microcap™ Index when Russell Investment Group reconstitutes its family of U.S. indexes on June 22, according to a preliminary list of additions posted Friday on www.russell.com.

Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

Dr. Michael Fonstein, Chief Executive Officer and President of Cleveland BioLabs, stated, "Our addition to the Index is reflective of the Company's significant growth and development since our IPO last year. We look forward to increased visibility resulting from our inclusion."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them.

Annual reconstitution of Russell indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000® Index and Russell Microcap. The largest 1,000 companies in the ranking comprise the large-cap Russell 1000® Index and the next 2,000 companies become the widely used small-cap Russell 2000® Index. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

About Russell

Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.

Russell's indexes are unmanaged and cannot be invested in directly. For more information on Russell indexes, go to www.russell.com.

About Cleveland BioLabs, Inc.

Cleveland BioLabs, Inc. is a drug discovery and development company leveraging its proprietary discoveries about programmed cell death to treat cancer and protect normal tissues from exposure to radiation and other stresses. The Company has strategic partnerships with the Cleveland Clinic Foundation, Roswell Park Cancer Institute, ChemBridge Corporation and the Armed Forces Research Radiobiology Institute. To learn more about Cleveland BioLabs, Inc., please visit the company's website at http://www.cbiolabs.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in our Registration Statement on Form SB-2/A filed with the Securities and Exchange Commission on September 8, 2006.

Contact Information

  • Contact:
    The Global Consulting Group
    Rachel Levine
    T: (646) 284-9439
    E: Email Contact