Ecopia BioSciences Inc.

Ecopia BioSciences Inc.

May 19, 2006 17:00 ET

Ecopia Announces the Withdrawal of Preliminary Short Form Prospectus

MONTREAL, QUEBEC--(CCNMatthews - May 19, 2006) - Ecopia BioSciences Inc. (TSX:EIA) announced that due to market conditions, it has elected to withdraw the preliminary short form prospectus filed on April 10, 2006 in connection with a proposed public offering of units.

About Ecopia

Ecopia is finding novel anticancer therapies from soil-dwelling microorganisms that are one of the most prolific sources of drugs. Our current focus is to move our flagship compound ECO-4601 through Phase I clinical trials. ECO-4601 is a novel small molecule that, based on advanced animal models, crosses the blood brain barrier and is effective in significantly inhibiting primary brain tumor growth and other types of cancers. Just like well-known chemotherapies such as doxorubicin and mitomycin C, ECO-4601 comes from microorganisms that live in common soil. However, unlike these drugs that were discovered many decades ago, ECO-4601 represents a new chemical class that is the fruit of a very unique drug discovery platform called the Decipher® technology. The common shares of Ecopia are listed on the TSX (symbol: EIA).

Additional information about the Company can be obtained from Ecopia's website at

Certain statements in this press release that do not relate exclusively to historical facts are forward-looking statements, including statements with respect to (i) success and timely completion of ECO-4061 Phase I clinical studies; (ii) the potential of ECO-4601 as a chemotherapy against primary brain cancer; (iii) the potential of ECO-4601 in the treatment of other types of cancers; and (iv) the novelty of ECO-4601. These forward-looking statements rely on a number of assumptions concerning future events and are therefore subject to a number of risks and uncertainties, many of which are outside Ecopia's control. Actual results may therefore vary materially from the expectations expressed by the Corporation and depend on a number of factors. These factors include, but are not limited to: (i) the possibility of delays in approval of patients in Phase I trial; (ii) scientific uncertainties relating to the correlation between preclinical animal data and human clinical data; (iii) the safety and efficacy of ECO-4601 as a cancer treatment; (iv) timely progress and completion of Phase I study; (v) uncertainties related to the regulatory process for drug development; (vi) differences in novelty assessment by various patent offices; (vii) the ability for the Corporation to fund its future operations in light of the lack of operating revenues for the years to come; and (viii) the impact of general economic conditions. A more complete discussion of the risks and uncertainties facing the Corporation appears in Ecopia's 2005 Annual Report under Management's Discussion and Analysis of Financial Position and Results of Operations for fiscal 2005 and the 2005 Annual Information Form available at Except as required by law, Ecopia does not undertake and disclaims any obligation to update or revise its forward-looking statements or forward-looking information whether as a result of new information, future events, or otherwise.

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