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INFINITY TO PRESENT NEW DATA ON ITS PROPRIETARY ANTI-CANCER AGENTS AT AACR-EORTC-NCI SYMPOSIUM

- Oral Hsp90 Inhibitor IPI-493 and Hedgehog Pathway Inhibitor IPI-926 to be Highlighted -

CAMBRIDGE, Mass., October 14, 2008 -- Infinity Pharmaceuticals, Inc. (NASDAQ: INFI), an innovative cancer drug discovery and development company, today announced that new data from several preclinical studies evaluating the company's proprietary small molecule drug candidates - oral Hsp90 inhibitor IPI-493 and oral Hedgehog signaling pathway inhibitor IPI-926 - will be presented during the 20th EORTC-NCI-AACR Symposium on "Molecular Targets and Cancer Therapeutics," being held in Geneva, Switzerland from October 21 through October 24, 2008.

The schedule of presentations for Infinity's drug candidates is as follows:

About Infinity Pharmaceuticals, Inc.
Infinity is an innovative cancer drug discovery and development company that is seeking to discover, develop, and deliver to patients best-in-class medicines for the treatment of cancer and related conditions. Infinity combines proven scientific expertise with a passion for developing novel small molecule drugs that target emerging cancer pathways. Infinity's two most advanced programs in Hsp90 inhibition and Hedgehog signaling pathway inhibition are evidence of its innovative approach to oncology drug discovery and development. For more information on Infinity, please refer to the company's website at http://www.infi.com.

Contact:
Infinity Pharmaceuticals, Inc.
Monique Allaire
(617) 453-1105
monique.allaire@infi.com

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