Med BioGene Inc.
TSX VENTURE : MBI

Med BioGene Inc.

November 02, 2007 08:30 ET

Med BioGene Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2007) - Med BioGene Inc. (TSX VENTURE:MBI), a life science company focused on the development and commercialization of genomic-based diagnostic and screening tests for cancer and cardiovascular disease, today announced that effective October 11, 2007 it granted to a director and two consultants five year incentive stock options to purchase an aggregate of 92,500 common shares at an exercise price of $0.34 per share.

About Med BioGene

MBI is a life science company focused on the development and commercialization of genomic-based clinical laboratory diagnostic and screening tests for cancer and cardiovascular disease. MBI develops these tests by identifying the genes, known as "biomarkers", which indicate the presence of disease. The development of these tests is the first step towards personalized medicine and will replace the conventional "one drug fits all" approach to disease management.

Expected benefits include:

- more accurate, quicker and less invasive diagnosis;

- tailoring of treatment decisions to the needs of each patient by outlining a patient's genetic profile, thus making treatment more effective and reducing healthcare costs by minimizing the treatment of non-responders; and

- prioritizing of genomic biomarkers for use as potential therapeutic targets and to validate the effectiveness of specific therapeutics.

MBI is currently developing tests for lymphoma, leukemia and cardiovascular disease through the following products: LymphExpress Dx™, LeukExpress Dx™ and CardioExpress Dx™.

Certain statements in this press release contain forward-looking information under applicable Canadian securities legislation. Words such as "anticipates", "believes", "estimates", "expects", "intends", "may", "plans", "projects", "will", "would" and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Forward looking information includes, but is 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. This forward-looking information is 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 information. Forward-looking information is subject to known and unknown risks and uncertainties and is 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 this forward-looking information, which speaks only as of the date of this press release. MBI's forward-looking information does not reflect the potential impact of any future partnerships, collaborations, acquisitions, mergers, dispositions, joint ventures or investments that MBI may make. All forward-looking information is qualified in its entirety by this cautionary statement and MBI undertakes no obligation to revise or update any forward-looking information 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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