Mistral Pharma Inc.

Mistral Pharma Inc.

January 26, 2007 07:30 ET

Mistral Pharma Moves to Dorval

MONTREAL, QUEBEC--(CCNMatthews - Jan. 26, 2007) - Mistral Pharma Inc. (TSX VENTURE:MIP)("Mistral") announced that as of January 29, 2007, it will have moved its head office and laboratories to 1717 Trans-Canada Highway, Dorval, Quebec, H9P 1J1. Phone and Fax numbers are now as follows: Telephone : (514) 421-1717 and Fax : (514) 421-1716.

"Our new facilities are much larger and modern" commented Bertrand Bolduc. "Our R&D team now has the necessary space to develop several products simultaneously" he added.

About Mistral Pharma Inc.

Mistral Pharma is a pharmaceutical product development and drug delivery company and its first branded product, MIST-B01, showed positive results at its first pilot clinical trial. Mistral is also working on two other control-delivery branded products. Mistral positions itself as a development partner for specialty pharmaceutical companies. Additional information about Mistral Pharma can be obtained on Mistral Pharma's website at www.mistralpharma.com

Forward-looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of Mistral Pharma. These statements are based on assumptions and uncertainties as well as on Management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for Mistral Pharma's products, the impact of price pressures exerted by competitors, results from clinical studies and regulatory approval process as well as general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

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

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