The board of directors of NitroMed, Inc. (NASDAQ: NTMD) further adjourned its special meeting of stockholders, scheduled to be reconvened today to approve the sale of substantially all of NitroMed’s assets to JHP Pharmaceuticals, LLC, until January 27, 2009 at 10:00 a.m. at the offices of WilmerHale, 60 State Street, Boston, Massachusetts.

NitroMed said that Deerfield Management had revised its previously disclosed offer to acquire NitroMed from an offer that Deerfield estimated would be for at least $.75 per share to an offer that NitroMed estimates at approximately $.80 per share, subject to adjustment for NitroMed’s net cash balances at closing. NitroMed is currently engaged in discussions regarding the Deerfield proposal, subject to the obligations under NitroMed’s agreements with JHP Pharmaceuticals, LLC and Archemix Corp. There can be no assurance that NitroMed and Deerfield will reach any agreement as to any alternative proposal to the previously announced transactions with JHP Pharmaceuticals, LLC and Archemix Corp.

About NitroMed

NitroMed of Lexington, Massachusetts is the maker of BiDil (isosorbide dinitrate/hydralazine hydrochloride), an orally administered medicine available in the United States for the treatment of heart failure in self-identified black patients. In this population, BiDil is indicated as an adjunct to current standard therapies such as angiotensin converting enzyme (ACE) inhibitors and beta blockers. There is little experience in patients with New York Heart Association Class IV heart failure. BiDil was approved by the U.S. Food and Drug Administration, primarily on the basis of efficacy data from the company's landmark A-HeFT (African American Heart Failure Trial) clinical trial. For full prescribing information, visit: www.BiDil.com.

On October 22, 2008, NitroMed entered into a purchase and sale agreement with JHP Pharmaceuticals, LLC, a privately held specialty pharmaceutical company, pursuant to which NitroMed has agreed to sell to JHP Pharmaceuticals substantially all of the assets related to NitroMed's BiDil and BiDil XR drug business. The sale of the BiDil and BiDil XR drug business is subject to NitroMed stockholder approval and other customary closing conditions. On November 18, 2008, NitroMed and Archemix Corp., a privately-held biopharmaceutical company, entered into a merger agreement, pursuant to which Archemix has agreed to merge with NitroMed in an all-stock transaction. The merger is subject to approval by Archemix's and NitroMed's stockholders, consummation of the sale of NitroMed's BiDil and BiDil XR drug business and other customary closing conditions.

Important Additional Information Has Been Filed with the SEC

NitroMed has filed with the SEC and mailed to its stockholders a definitive proxy statement in connection with the proposed sale of its BiDil and BiDil XR drug business to JHP Pharmaceuticals, LLC.