Acorda Therapeutics Names Anthony Caggiano Vice President, Preclinical Development

Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced Anthony Caggiano, M.D., PhD., has been promoted to Vice President, Preclinical Development and joined the Company’s management team. Dr. Caggiano will continue to manage the Preclinical and Research & Development departments, as well as oversee Acorda’s preclinical programs that aim to develop novel approaches to the treatment of multiple sclerosis (MS), spinal cord injury (SCI) and related neurological disorders.

"Since joining Acorda, Tony has made significant contributions in advancing our preclinical technologies, bringing novel and exciting protein therapeutics closer to clinical stage trials,” said Ron Cohen, M.D., President and Chief Executive Officer of Acorda Therapeutics. "Acorda has several promising technologies in our preclinical pipeline, and Tony and his team have proven expertise in the full range of preclinical initiatives necessary to move these therapies forward. We are excited about the potential of these compounds in a number of neurological indications, and believe that our preclinical programs will continue to progress under Tony’s leadership.”

Acorda currently has three diverse preclinical programs, including growth factor, antibody and enzyme based biologic technologies. Dr. Caggiano is responsible for leading the research, development, manufacturing, preclinical testing and early phase clinical planning for these compounds. He has led teams that have advanced two preclinical technologies, GGF2 and rHIgM22, from the bench concept into formal preclinical development with current Good Manufacturing Practices (cGMP) manufacturing and Good Laboratory Practices (GLP) safety and toxicology processes in place. GGF2, the lead compound from Acorda’s neuregulin program, may have applications in congestive heart failure, MS and stroke. The Company expects to submit an Investigational New Drug (IND) application for GGF2 for treatment of congestive heart failure in late 2009. rHIgM22 is a monoclonal antibody that treats MS in a completely new way by restoring myelin, the insulation on nerves that is typically damaged in MS,and an IND may be filed as early as 2010. Acorda is also developing chondroitinase, a bacterial enzyme that has been shown to modify the scar and to improve motor and sensory function in SCI.

Dr. Caggiano joined Acorda in September 2001 as a lab scientist, and throughout his seven years at the Company has held various positions of increasing responsibility in the Preclinical department. Prior to joining Acorda, Dr. Caggiano co-founded Remote Diagnostic Imaging, a company that assembled an expert staff of radiologists to provide remote diagnostic services to understaffed hospitals. Dr. Caggiano received his undergraduate degree in interdisciplinary studies of biology, chemistry and psychology from University of Virginia, and his M.D. and Ph.D. in neurobiology from the University of Chicago.

About Acorda Therapeutics

Acorda Therapeutics is a biotechnology company developing therapies for spinal cord injury, multiple sclerosis and related nervous system disorders. The Company's marketed products include Zanaflex Capsules^® (tizanidine hydrochloride), a short-acting drug for the management of spasticity. The Company's pipeline includes a number of products in development for the treatment, regeneration and repair of the spinal cord and brain.

Forward-Looking Statement

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or prospects should be considered forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including delays in obtaining or failure to obtain FDA approval of Fampridine-SR, the risk of unfavorable results from future studies of Fampridine-SR, Acorda Therapeutics' ability to successfully market and sell Fampridine-SR, if approved, and Zanaflex Capsules, competition, failure to protect its intellectual property or to defend against the intellectual property claims of others, the ability to obtain additional financing to support Acorda Therapeutics' operations, and unfavorable results from its preclinical programs. These and other risks are described in greater detail in Acorda Therapeutics' filings with the Securities and Exchange Commission. Acorda Therapeutics may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Acorda Therapeutics disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.