Advanced Proteome Therapeutics Corporation
TSX VENTURE : APC

Advanced Proteome Therapeutics Corporation
Atreus Pharmaceuticals, Inc.

November 05, 2007 09:00 ET

Advanced Proteome Therapeutics Corporation and Atreus Pharmaceuticals, Inc. Announce Strategic R&D Agreement

BOSTON, MASSACHUSETTS--(Marketwire - Nov. 5, 2007) - Advanced Proteome Therapeutics Inc. - (APT), a subsidiary of Advanced Proteome Therapeutics Corporation (TSX VENTURE:APC) and Atreus Pharmaceuticals, Inc. (Atreus) today announced they have entered into a strategic research and development agreement to explore the development of novel protein - in vivo imaging agents using advanced site-directed peptide modification techniques developed by APT.

The research will be conducted by a team comprised of senior technology staff members from both organizations who will collaborate on focused areas of research and development to capitalize on the technical competencies of each company. The markets for imaging agents are dynamic and include diagnostic radiopharmaceuticals and immunoconjugates that have gained significant momentum in recent years.

The first product target is intended for imaging the earliest changes associated with rheumatoid arthritis. The resulting technology is expected to have clinical applications in the diagnosis and management of early rheumatoid arthritis. Diagnosis of the disease at its earliest stages allows disease modifying treatment to be instituted before any loss of function occurs.

Under the agreement, Atreus will have the exclusive right to commercialize the jointly developed agents in return for revenue sharing payments to APT. Atreus will provide technical, clinical and market expertise to the program, as well as intellectual property rights.

"APT has experience and advanced understanding of site-directed protein modification which should lead to an improved generation of in vivo imaging agents that is synergistic with our core program involving therapeutic targets. We are very excited to team with the experienced management of Atreus to develop the next level of medical imaging solutions," said Dr. Allen Krantz, President and Chief Executive Officer at APT.

APT

Advanced Proteome Therapeutics Inc. (www.advancedproteome.com) has established operations at 650 Albany Street, BDIC, Boston, MA 02118 and has begun implementing its R&D plan through its subsidiary, Advanced Proteome Therapeutics Inc. APC's primary corporate primary mission is to apply its proprietary drug delivery and drug redevelopment technologies to produce new, improved versions of therapeutic proteins and pioneer the emerging field of protein-site targeting. The market for diagnostics and therapeutic proteins and peptides is expected to surpass more than 50 Billion USD by the year 2010 and is the fastest growing segment of the pharmaceutical market. Future growth however depends largely on the industry overcoming a number of hurdles, including drug delivery challenges.

About Atreus Pharmaceuticals, Inc. (Cambridge, MA):

Atreus Pharmaceuticals, Inc. is a privately-held biomedical company which is applying new findings in molecular medicine to the development of new agents for the diagnosis and treatment of human diseases characterized by inflammation and cell death. Its lead products are annexin-based agents for imaging and therapy of early rheumatoid arthritis. For more information about Atreus Pharmaceuticals, Inc., contact Dr. Allan Green at 1-617-447-5999 (amgreen@fdaregs.com).

Except for historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, those relating to the possibility of our products infringing patents and other intellectual property of third parties, and costs of product development. APT nor Atreus will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect APT's financial results is included in the documents APT files from time to time with the Securities and Exchange Commission and Canadian securities regulatory authorities including APT's Registration Statement on Form F-10.

The forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, gaining product approval, successful entry into new markets, changes in financing conditions, and changes in FDA regulations. For further information about APC and APT Inc., contact Encompass Communications Inc. (pgenge@encompassinc.ca) at 604-630-0770 or toll free at 877-566-6592.

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