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

Webcast Presentation Scheduled for Wednesday, November 12, 2008 at 11:10 a.m. EST BROOMFIELD, Colo. and SAN CARLOS, Calif., Nov. 6


BROOMFIELD, Colo. and SAN CARLOS, Calif., Nov. 6 /PRNewswire-FirstCall/ --
ARCA biopharma, Inc., a biopharmaceutical company developing
genetically-targeted therapies for heart failure and other cardiovascular
diseases, and Nuvelo, Inc. (Nasdaq: NUVO) today announced that Michael
Bristow, M.D., Ph.D., ARCA's chairman and chief science and medical officer,
will present at the Rodman & Renshaw Tenth Annual Healthcare Conference on
Wednesday, November 12, 2008, at 11:10 a.m. EST in New York City.


ARCA biopharma and Nuvelo, Inc. announced on September 25, 2008 that they
have entered into a definitive merger agreement, expected to create a
cardiovascular-focused, late-stage biotechnology company. The presentation
will discuss the assets of both companies, including ARCA's lead product
Gencaro(TM) (bucindolol hydrochloride) a near-term commercial opportunity, as
well as Nuvelo's mid-stage pipeline asset, novel short-acting anticoagulant
NU172, to drive long-term growth. ARCA recently announced that the FDA has
accepted for filing a New Drug Application for Gencaro. The presentation will
also discuss the structure and strategic plan of the combined company, pending
the closing of the merger.


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



About ARCA biopharma


ARCA biopharma, Inc. is a privately held company focused on developing and
commercializing genetically targeted therapies for heart failure and other
cardiovascular diseases. The Company's lead product candidate, Gencaro(TM)
(bucindolol hydrochloride), is an investigational pharmacologically unique
beta-blocker and mild vasodilator being developed for heart failure and other
indications. ARCA has identified common genetic variations that predict
individual patient response to Gencaro. The NDA for Gencaro, including the
proposed brand name, is under review by FDA. The companion genetic test for
Gencaro is in development by ARCA's partner, Laboratory Corporation of
America. For more information please visit http://www.arcabiopharma.com.



About Nuvelo


Nuvelo, Inc. is dedicated to improving the lives of patients through the
discovery, development and commercialization of novel drugs for acute
cardiovascular disease, cancer and other debilitating medical conditions.
Nuvelo's development pipeline includes NU172, a direct thrombin inhibitor
which has completed Phase 1 development for use as a potential short-acting
anticoagulant during medical or surgical procedures; and NU206, a Wnt pathway
modulator in Phase 1 development for the potential treatment of
chemotherapy/radiation therapy-induced mucositis and inflammatory bowel
disease. In addition, Nuvelo is pursuing research programs in leukemia and
lymphoma therapeutic antibodies and Wnt signaling pathway therapeutics to
further expand its pipeline and create additional partnering and licensing
opportunities.


Information about Nuvelo is available at its website at
http://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 merger
transaction between Nuvelo, ARCA and Dawn Acquisition Sub, Inc., the
transaction's anticipated benefits, timing, progress and anticipated
completion of the combined company's clinical stage and research programs,
which statements are hereby identified as "forward-looking statements" for
purposes of the safe harbor provided by the Private Securities Litigation
Reform Act of 1995. Such statements are based on the companies' managements'
current expectations and involve risks and uncertainties. Actual results and
performance 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 to
complete the transaction contemplated by this communication in a timely
fashion, the risk that Nuvelo's and ARCA's business operations will not be
integrated successfully; the combined company's inability to further identify,
develop and achieve commercial success for products and technologies; the risk
that the combined company's financial resources will be insufficient to meet
the combined company's business objectives; uncertainties relating to drug
discovery and the regulatory approval process; clinical development processes;
enrollment rates for patients in the companies' clinical trials; changes in
relationships with strategic partners and dependence upon strategic partners
for the performance of critical activities under collaborative agreements; and
the impact of competitive products and technological changes. These and other
factors are identified and described in more detail in Nuvelo's filings with
the SEC, including without limitation Nuvelo's quarterly report on Form 10-Q
for the quarter ended June 30, 2008 and subsequent filings. We disclaim any
intent 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 proxy
statement/prospectus/consent solicitation, in connection with the merger.
Investors and security holders are urged to read the registration statement on
Form S-4 and the related proxy statement/prospectus/consent solicitation which
contain important information about the merger transaction. Investors and
security holders may obtain free copies of these documents and other documents
filed 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 filed
with 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 proxy
statement/prospectus/consent solicitation, Nuvelo files annual, quarterly and
special reports, proxy statements and other information with the SEC. You may
read 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 call
the SEC at 1-800-SEC-0330 for further information on the public reference
room. Nuvelo, Inc.'s filings with the SEC are also available to the public
from commercial document-retrieval services and at SEC's website at
http://www.sec.gov, and from Investor Relations at Nuvelo as described above.


This communication shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. No
offering of securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as amended.


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



SOURCE  ARCA biopharma, Inc., Nuvelo, Inc.