Methods and compositions for modulating angiogenesis are disclosed. Such modulation is made possible by the use of NK-B, NK-B analogs, NK receptor agonists and NK receptor antagonists to promote or inhibit angiogenesis. The method for modulating the angiogenic activity of cells comprises contacting cells capable of angiogenesis with an effective amount of NK-B, an NK-B analog, an NK receptor agonist or an NK receptor antagonist wherein the angiogenic activity of the cells is increased or decreased. The angiogenesis modulating compounds can be administered to alleviate and or prevent angiogenesis related diseases in patients, such as, for example, cancer, rheumatoid arthritis, macular degeneration, atherosclerosis, coronary artery disease, peripheral vascular disease, varicose veins and preeclampsia.