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GPC Biotech Presents New Pre-Clinical Data on RGB-286638 Broad-Spectrum Kinase Inhibitor at EORTC-NCI-AACR Meeting

MARTINSRIED/MUNICH, Germany and PRINCETON, N.J., October 27, 2008 - GPC Biotech AG (Frankfurt Stock Exchange: GPC, NASDAQ: GPCB) today reported that pre-clinical data on RGB-286638, the Company's multi-targeted protein kinase inhibitor, were presented at the 20th EORTC-NCI-AACR Symposium: Molecular Targets and Cancer Therapeutics in Geneva, Switzerland in a poster entitled, "RGB-286638 is a novel multi-targeted protein kinase inhibitor with activity in chronic myelogenous leukemia (CML) models," (Abstract #578). The data presented demonstrate that the RGB-286638 small molecule has potent activity against chronic myeloid leukemia (CML) in in vivo models that are resistant to imatinib (Gleevec®) and to dasatinib (Sprycel®), the current standards of care for treating this form of cancer. Additionally, RGB-286638 has been shown in vitro to be active against a number of families of protein kinases that are important for the proliferation of cancer cells. RGB-286638 is expected to enter Phase 1 clinical testing this year.

"The data presented today support the potential utility of RGB-286638 against some hematological malignancies," said Martine George, M.D., Senior Vice President, Drug Development and Chief Medical Officer of GPC Biotech. "We are particularly excited to see the strong effect that RGB-286638 has against Gleevec- or Sprycel-resistant tumor cells. These data are supportive of our clinical plans for RGB-286638: We expect to initiate a Phase 1 trial in solid tumors in the near future, followed by a study in hematological tumors, including CML, during 2009."

About RGB-286638 RGB-286638 is a multi-targeted protein kinase inhibitor. The RGB-286638 compound has been shown in cancer cells to lead to the inhibition of cell cycle progression, the process that controls cell division and ensures the accurate duplication of genetic material, by targeting all relevant cyclin-dependent kinases, which are proteins involved in regulating the cell cycle. RGB-286638 has also been shown to induce apoptosis (programmed cell death) and to inhibit other major protein kinases that are important for the proliferation of cancer cells. In a range of pre-clinical models of solid and hematological tumors, RGB-286638 treatment results in tumor regression and increased survival. RGB-286638 is expected to enter human clinical trials in 2008.

GPC Biotech GPC Biotech AG is a publicly traded biopharmaceutical company focused on anticancer drugs. GPC Biotech's lead product candidate is satraplatin, an oral platinum compound. The Company has various anti-cancer programs in research and development that leverage its expertise in kinase inhibitors. GPC Biotech AG is headquartered in Martinsried/Munich (Germany) and has a wholly owned U.S. subsidiary in Princeton, New Jersey. For additional information, please visit GPC Biotech's Web site at<>.

This press release contains forward-looking statements, which express the current beliefs and expectations of the management of GPC Biotech. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press release. There can be no guarantee that RGB-286638 will be successfully developed. We direct you to GPC Biotech's Annual Report on Form 20-F for the fiscal year ended December 31, 2007 and other reports filed with the U.S. Securities and Exchange Commission for additional details on the important factors that may affect the future results, performance and achievements of GPC Biotech. Forward-looking statements speak only as of the date on which they are made and GPC Biotech undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.

Gleevec® is a registered trademark of Novartis. Sprycel® is a registered trademark of Bristol-Myers Squibb Company.

For further information, please contact:

GPC Biotech AG Investor Relations & Corporate Communications Phone: +49 (0)89 8565-2693

In the U.S.: Laurie Doyle Director, Investor Relations & Corporate Communications Phone: +1 609-524-5884

Additional media contacts for Europe: MC Services AG Phone: +49 (0) 89 210 228 0

Raimund Gabriel

Hilda Juhasz

Additional investor contact for Europe: Trout International LLC Lauren Rigg, Vice President Phone: +44 207 936 9325

Posted: October 2008