Insmed Incorporated to Webcast First Quarter Investor Update Conference Call; Friday, May 03, 2002, at 8:00 a.m. ET

ETRICHMOND, Va., Apr 26, 2002 (BUSINESS WIRE) -- Insmed Incorporated (Nasdaq:INSM), a biopharmaceutical company focused on the development of drug candidates for the treatment of type 2 diabetes and other metabolic and endocrine disorders, will announce financial results for the first quarter of 2002 at approximately 4:00 p.m. EST on Thursday, May 02. The Company will host a conference call on Friday, May 03, 2002, at 8:00 a.m. Eastern Time (7 a.m. Central Time). President, Chief Executive Officer and Chairman, Geoffrey Allan, Ph.D., will conduct the call that will review the first quarter and provide an outlook for the remainder of 2002. To participate in the conference call dial 888/677-5720, password: INSMED. A live audio feed of the webcast can be accessed through the Investor Relations link on the Company's website: www.insmed.com. A telephonic replay of the call will be available for one week and can be accessed at 888/562-6104. A web replay of the call will be available through the Investor Relations website beginning at 10:00 a.m.

About Insmed Incorporated

Insmed Incorporated is a biopharmaceutical company focused on the development of drug candidates for the treatment of type 2 diabetes and other metabolic and endocrine disorders. The Company's first product candidate, INS-1, is an orally active small molecule that restores insulin sensitivity to tissue. The Company is developing INS-1 for the treatment of type 2 diabetes and polycystic ovary syndrome, a significant women's health disorder. In conjunction to INS-1, the Company is developing SomatoKine®, a recombinant human protein that is targeted towards the management of both type 1 and type 2 diabetics who are less sensitive to insulin therapy. Further information is available at www.insmed.com.

CONTACT: Insmed Incorporated Baxter Phillips, III, 804/565-3041 bphillips@insmed.com