News Release

Second Clinical Study of GRN163L in Multiple Myeloma

MENLO PARK, Calif., October 20, 2008 - Geron Corporation (Nasdaq: GERN) today announced that it has enrolled the first multiple myeloma patient in a clinical trial of its telomerase inhibitor drug, GRN163L, in combination with other treatments.

The primary objective of the Phase I dose escalation study is to determine the safety, maximum tolerated dose (MTD) and objective response rate of GRN163L when administered intravenously in combination with bortezomib (Velcade^®) with and without dexamethasone in patients with relapsed or refractory disease.

"There is a need for novel therapies in the treatment of multiple myeloma," said William Bensinger, M.D. of the Fred Hutchinson Cancer Research Center, a principal investigator for the trial. "GRN163L has shown synergistic effects in combination with bortezomib in preclinical models of multiple myeloma, so we are very interested in assessing this treatment regimen in patients."

This is the second trial to be conducted of GRN163L in multiple myeloma. A Phase I single agent study initiated is ongoing.

"We are pleased to reach this milestone in the clinical development of our lead anti-cancer drug," said Fabio Benedetti, M.D, Geron's chief medical officer, oncology. "We have been able to draw on our experience to date with GRN163L from our ongoing single agent studies, including in multiple myeloma, for critical aspects of the design of this combination trial. Our clinical program for this drug now includes six active trials evaluating GRN163L as either a single agent or in combination with current treatment regimens."

Preclinical studies have also demonstrated that GRN163L can inhibit clonogenic growth of both primary myeloma patient samples and subpopulations from myeloma cell lines enriched for cancer stem cells. These subpopulations show resistance to several conventional agents, including bortezomib. Cancer stem cells capable of clonogenic growth may play an important role in rapid regrowth of tumors after initial reduction by standard treatments.

About Multiple Myeloma

Multiple myeloma is a malignancy of plasma cells, which are antibody-producing cells of the immune system. Multiple myeloma usually arises in the bone marrow and is characterized by interference with the production of blood cells, destructive lesions of bone that can cause debilitating fractures, and excessive production of antibody molecules. These abnormal molecules may interfere with the function of many tissues and organs in addition to bone marrow, including the kidneys. Multiple myeloma is the second most common hematological malignancy of adults.

The American Cancer Society has projected that 19,900 new cases and 10,790 deaths due to multiple myeloma will have occurred in the United States by the end of this year. Although the number of treatment options for multiple myeloma has increased in recent years, the vast majority of multiple myeloma patients progress or recur after initial therapy and ultimately die from the disease.

Bortezomib (Velcade^®) is a proteasome inhibitor drug that is a current standard treatment for refractory or relapsing multiple myeloma. Dexamethasone is a glucocorticosteriod often given with bortezomib in the treatment of myeloma.

About Telomerase and GRN163L

Telomerase is a critical and potentially broadly applicable tumor target. The enzyme is expressed in a wide range of malignant tumors, and its activity is essential for the indefinite replicative capacity of cancer cells that enables their malignant cell growth. Telomerase is absent or expressed only transiently at low levels in most normal adult tissues.

GRN163L is a short chain oligonucleotide that binds with high affinity and specificity to the catalytic site of telomerase, resulting in competitive inhibition of enzyme activity. Proprietary manufacturing chemistry and the addition of a 5' lipid chain have enabled the molecule to penetrate cells and tissues throughout the body.

GRN163L has demonstrated anti-tumor effects in a wide range of preclinical hematological and solid tumor models, including multiple myeloma.

About Geron

Geron is a biopharmaceutical company that is developing first-in-class therapeutic products for the treatment of cancer and chronic degenerative diseases, including spinal cord injury, heart failure and diabetes. The products are based on our core expertise in telomerase and human embryonic stem cells. For more information, visit www.geron.com.

This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding potential applications of Geron's telomerase technology constitute forward-looking statements that involve risks and uncertainties, including, without limitation, risks inherent in the development and commercialization of potential products, uncertainty of clinical trial results or regulatory approvals or clearances, need for future capital, dependence upon collaborators and maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Geron's periodic reports, including the quarterly report on Form 10-Q for the quarter ended June 30, 2008.

CONTACT:

Anna Krassowska, Investor and Media Relations, 650-473-7765, info@geron.com

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