Exhibit 99

MIRAVANT ANNOUNCES RESULTS OF PHASE III STUDY OF SnET2


SANTA BARBARA,  CA, January 13, 2002 - Miravant  Medical  Technologies  (Nasdaq:
MRVT) announced today the results of its phase III clinical trials of SnET2 (tin
ethyl  etiopurpurin),  an  investigational  drug  developed  for the wet form of
age-related  macular  degeneration (wet AMD). The top line results of the trials
indicate  that SnET2 did not meet the  primary  efficacy  endpoint in this study
population.

"We have always  recognized  the  challenges  of developing a treatment for this
serious  vision-threatening  disease," said Gary S. Kledzik,  Ph.D, chairman and
chief executive officer.  "We will be undertaking a full review of the data from
the phase III trials,  and will make future  development  decisions  about SnET2
after we have completed the additional analyses."

AMD is the leading  cause of severe  vision loss in people over 50 years of age.
The wet form of AMD is the more severe type,  affecting only 10 percent of those
with the disease,  but accounting for 90% of the blindness  caused by AMD. There
are approximately 400,000 new cases of wet AMD each year in the U.S. and Europe.

Miravant developed SnET2 in collaboration with Pharmacia  Corporation.  SnET2 is
an  investigational   photodynamic   therapy  (PDT)  for  sub-foveal   choroidal
neovascularization (CNV), also known as the wet form of AMD.

The phase III trials consist of two randomized, double-masked studies, enrolling
a total of 933  patients  with wet AMD.  Patients  were  treated with SnET2 (0.5
mg/kg and 0.75 mg/kg, placebo) and a diode laser using 664nm wavelength.

Miravant Medical  Technologies  specializes in both  pharmaceuticals and devices
for  photoselective  medicine.  The company is developing  PhotoPoint(tm) PDT in
ophthalmology, dermatology, cardiovascular disease and oncology.

The  statement  above  by Dr.  Kledzik  about  future  development  of  SnET2 is
forward-looking  and relates to our future plans,  objectives,  expectations and
intentions.  Our actual results may differ  materially  from those  described in
these  statements.  For instance,  the company may decide not to further develop
SnET2  for wet AMD or any  other  indication.  For a  discussion  of  additional
important risk factors that may cause our results to differ from those described
above,  please  refer to our  annual  report  on Form  10-K  for the year  ended
December  31,  2000 and other  quarterly  and  periodic  reports  filed with the
Securities and Exchange Commission.