Med BioGene Inc.

Med BioGene Inc.

February 17, 2010 16:52 ET

Med BioGene Announces Results of Annual and Special Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2010) - Med BioGene Inc. (TSX VENTURE:MBI) today announced the results of its annual and special meeting of shareholders held on February 12, 2010.

At the meeting, shareholders representing 40% of the issued and outstanding common shares voted in person or by proxy as follows:

Outcome of Vote

1. Election of the following nominees as directors of MBI: Carried

Erinn B. Broshko
Bruce G. Cousins
Dr. Heiner Dreismann
Dennis Grimaud
Dr. Michael R. Hayden
Dr. Wilbert J. Keon
R. Hector Mackay-Dunn Q.C.
Dr. John H. Rayson
Kevin K. Rooney

2. Appointment of PricewaterhouseCoopers LLP as auditor Carried
of MBI

3. Authorization of MBI's board of directors to give Passed
effect to a consolidation of its common shares in (97% in Support)
anticipation of its proposed U.S. public offering and
listing of its common shares on the NASDAQ Capital

4. Amendment of MBI's stock option plan to increase the Passed
number of common shares in respect of which stock (95% in Support)
options may be granted thereunder

5. Amendment of MBI's articles to eliminate its Series A Passed
preferred shares and Series B preferred shares, none (100% in Support)
of which are allotted or issued

6. Approval of MBI's shareholder rights plan Passed
(97% in Support)

About Med BioGene

MBI is a life science company focused on the development and commercialization of genomic-based personalized clinical laboratory diagnostic tests. MBI is committed to advancing personalized medicine by commercializing tests that provide clinically relevant information to improve patient treatment and reduce health care costs. For more information, please visit

Certain statements in this press release contain forward-looking information and statements ("forward-looking statements") under applicable Canadian and United States securities legislation. Words such as "anticipates", "believes", "estimates", "expects", "intends", "may", "plans", "projects", "will", "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward looking statements include, but are not limited to, that with respect to future profits, future product revenues, future operations and plans, the use of proceeds from financings, the timing of clinical trials and the completion date for clinical trials and the prospects for negotiating partnerships or collaborations and their timing. These forward-looking statements are only a prediction based upon MBI's current expectations, and actual events or results may differ materially. MBI may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on uncertain assumptions that could cause MBI's actual results and the timing of events to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. MBI's forward-looking statements do not reflect the potential impact of any future partnerships, collaborations, acquisitions, mergers, dispositions, joint ventures or investments that MBI may make. All forward-looking statements are qualified in their entirety by this cautionary statement and MBI undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date of this press release, other than as required by applicable law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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