Ambrilia Biopharma Inc.
TSX : AMB

Ambrilia Biopharma Inc.

August 05, 2009 09:44 ET

TSX to Resume Trading of Ambrilia's Shares

MONTREAL, QUEBEC--(Marketwire - Aug. 5, 2009) - Ambrilia Biopharma Inc. (TSX:AMB) announced today that the review by the Toronto Stock Exchange ("TSX") of the common shares of Ambrilia with respect to meeting the requirements for continued listing has been stayed until August 30, 2009 or such later date as the court may order, pursuant to the Initial Order issued on July 31, 2009 by the Quebec Superior Court of Justice under the Companies' Creditors Arrangement Act (Canada) ("CCAA"). Also, Ambrilia has refused the TSX's request as to Ambrilia voluntarily suspend trading of its common shares. Therefore, trading of Ambrilia's listed common shares will resume.

Any recovery for creditors and other stakeholders, including shareholders, is uncertain and is highly dependent upon a number of factors, including the outcome of Ambrilia proceedings under the CCAA.

About Ambrilia Biopharma Inc.

Ambrilia Biopharma Inc. (TSX:AMB) is a biotechnology company focused on the discovery and development of novel treatments for viral diseases and cancer. The Company's strategy aims to capitalize on its broad portfolio and original expertise in virology. Ambrilia's product portfolio is comprised of oncology and antiviral assets, including two new formulations of existing peptides for cancer treatment, a targeted delivery technology for cancer, an HIV protease inhibitor program as well as HIV integrase and entry inhibitors, Hepatitis C virus inhibitors and anti-Influenza A compounds. Ambrilia's head office, research and development and manufacturing facilities are located in Montreal. For more information, please visit the Company's web site: www.ambrilia.com.

Ambrilia's forward looking statements

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward-looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory approval process, establishment of corporate alliances and other risks detailed from time to time in the Company's filings. We refer you to the Risk Factors section of the Company's annual information form which contains a more exhaustive analysis of the risks and uncertainties that are generally connected to the business of the Company. Such statements are also based on various assumptions, including the successful and timely completion of clinical studies on Ambrilia's products demonstrating efficacy and safety for human use, their successful commercialization within the forecasted timelines and the attainment of the forecasted milestone payments and other revenues. Failure to complete a strategic or financial transaction as a result of the review of strategic alternatives could have a material adverse effect on Ambrilia. While Ambrilia anticipates that subsequent events and developments may cause Ambrilia's views to change, Ambrilia specifically disclaims any obligation to update these forward looking statements, unless obligated to do so by applicable securities laws.

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