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ARCA biopharma to Present at Rodman & Renshaw Tenth Annual Healthcare Conference

Thursday, November 6, 2008 General News J E 4
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BROOMFIELD, Colo. and SAN CARLOS, Calif., Nov. 6 ARCA biopharma, Inc., a biopharmaceutical company developinggenetically-targeted therapies for heart failure and other cardiovasculardiseases, and Nuvelo, Inc. (Nasdaq: NUVO) today announced that MichaelBristow, M.D., Ph.D., ARCA's chairman and chief science and medical officer,will present at the Rodman & Renshaw Tenth Annual Healthcare Conference onWednesday, November 12, 2008, at 11:10 a.m. EST in New York City.

ARCA biopharma and Nuvelo, Inc. announced on September 25, 2008 that theyhave entered into a definitive merger agreement, expected to create acardiovascular-focused, late-stage biotechnology company. The presentationwill discuss the assets of both companies, including ARCA's lead productGencaro(TM) (bucindolol hydrochloride) a near-term commercial opportunity, aswell as Nuvelo's mid-stage pipeline asset, novel short-acting anticoagulantNU172, to drive long-term growth. ARCA recently announced that the FDA hasaccepted for filing a New Drug Application for Gencaro. The presentation willalso discuss the structure and strategic plan of the combined company, pendingthe closing of the merger.

A live audio webcast of the presentation will be available online via theARCA biopharma website at http://www.arcabiopharma.com or the InvestorRelations portion of Nuvelo's website at http://www.nuvelo.com.

About ARCA biopharma

ARCA biopharma, Inc. is a privately held company focused on developing andcommercializing genetically targeted therapies for heart failure and othercardiovascular diseases. The Company's lead product candidate, Gencaro(TM)(bucindolol hydrochloride), is an investigational pharmacologically uniquebeta-blocker and mild vasodilator being developed for heart failure and otherindications. ARCA has identified common genetic variations that predictindividual patient response to Gencaro. The NDA for Gencaro, including theproposed brand name, is under review by FDA. The companion genetic test forGencaro is in development by ARCA's partner, Laboratory Corporation ofAmerica. For more information please visit http://www.arcabiopharma.com.

About Nuvelo

Nuvelo, Inc. is dedicated to improving the lives of patients through thediscovery, development and commercialization of novel drugs for acutecardiovascular disease, cancer and other debilitating medical conditions.Nuvelo's development pipeline includes NU172, a direct thrombin inhibitorwhich has completed Phase 1 development for use as a potential short-actinganticoagulant during medical or surgical procedures; and NU206, a Wnt pathwaymodulator in Phase 1 development for the potential treatment ofchemotherapy/radiation therapy-induced mucositis and inflammatory boweldisease. In addition, Nuvelo is pursuing research programs in leukemia andlymphoma therapeutic antibodies and Wnt signaling pathway therapeutics tofurther expand its pipeline and create additional partnering and licensingopportunities.

Information about Nuvelo is available at its website athttp://www.nuvelo.com or by phoning 650-517-8000.

Forward-looking statements

This press release contains "forward-looking statements" which include,without limitation, statements regarding the completion of the proposed mergertransaction between Nuvelo, ARCA and Dawn Acquisition Sub, Inc., thetransaction's anticipated benefits, timing, progress and anticipatedcompletion of the combined company's clinical stage and research programs,which statements are hereby identified as "forward-looking statements" forpurposes of the safe harbor provided by the Private Securities LitigationReform Act of 1995. Such statements are based on the companies' managements'current expectations and involve risks and uncertainties. Actual results andperformance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation,failure of Nuvelo or ARCA's stockholders to approve the merger, the ability tocomplete the transaction contemplated by this communication in a timelyfashion, the risk that Nuvelo's and ARCA's business operations will not beintegrated successfully; the combined company's inability to further identify,develop and achieve commercial success for products and technologies; the riskthat the combined company's financial resources will be insufficient to meetthe combined company's business objectives; uncertainties relating to drugdiscovery and the regulatory approval process; clinical development processes;enrollment rates for patients in the companies' clinical trials; changes inrelationships with strategic partners and dependence upon strategic partnersfor the performance of critical activities under collaborative agreements; andthe impact of competitive products and technological changes. These and otherfactors are identified and described in more detail in Nuvelo's filings withthe SEC, including without limitation Nuvelo's quarterly report on Form 10-Qfor the quarter ended June 30, 2008 and subsequent filings. We disclaim anyintent or obligation to update these forward-looking statements.

Additional Information and Where to Find It

Nuvelo has filed a registration statement on Form S-4, and a related proxystatement/prospectus/consent solicitation, in connection with the merger.Investors and security holders are urged to read the registration statement onForm S-4 and the related proxy statement/prospectus/consent solicitation whichcontain important information about the merger transaction. Investors andsecurity holders may obtain free copies of these documents and other documentsfiled with the SEC at the SEC's website at http://www.sec.gov. In addition,investors and security holders may obtain free copies of the documents filedwith the SEC by contacting Nuvelo Investor Relations at the email address:ir@nuvelo.com or by phone at 650-517-8000.

In addition to the registration statement and related proxystatement/prospectus/consent solicitation, Nuvelo files annual, quarterly andspecial reports, proxy statements and other information with the SEC. You mayread and copy any reports, statements or other information filed by Nuvelo,Inc. at the SEC public reference room at 100 F Street, N.E., Washington, D.C.20549. Please call the SEC at 1-800-SEC-0330 for more information. Please callthe SEC at 1-800-SEC-0330 for further information on the public referenceroom. Nuvelo, Inc.'s filings with the SEC are also available to the publicfrom commercial document-retrieval services and at SEC's website athttp://www.sec.gov, and from Investor Relations at Nuvelo as described above.

This communication shall not constitute an offer to sell or thesolicitation of an offer to sell or the solicitation of an offer to buy anysecurities, nor shall there be any sale of securities in any jurisdiction inwhich such offer, solicitation or sale would be unlawful prior to registrationor qualification under the securities laws of any such jurisdiction. Nooffering of securities shall be made except by means of a prospectus meetingthe requirements of Section 10 of the Securities Act of 1933, as amended.

Nuvelo, ARCA and their respective directors and executive officers may bedeemed to be participants in the solicitation of proxies from the stockholdersof Nuvelo in connection with the merger transaction. Information regarding thespecial interests of these directors and executive officers in the mergertransaction is included in the proxy statement/prospectus/consent solicitationdescribed above. Additional information regarding the directors and executiveofficers of Nuvelo is also included in Nuvelo's proxy statement for its 2008Annual Meeting of Stockholders which was filed with the SEC on April 23, 2008and its Annual Report on Form 10-K for the year ended December 31, 2007, whichwas filed with the SEC on March 12, 2008. These documents are available asdescribed above.

SOURCE ARCA biopharma, Inc., Nuvelo, Inc.
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