Ambrilia Biopharma Inc.

Ambrilia Biopharma Inc.

April 07, 2006 14:32 ET

Ambrilia Announces Term Extension of Investissement Quebec's Warrants

MONTREAL, QUEBEC--(CCNMatthews - April 7, 2006) - Ambrilia Biopharma Inc. (TSX:AMB)


Ambrilia Biopharma Inc., a biopharmaceutical company developing innovative therapeutics in the fields of oncology and infectious diseases, announced today that it has received approval from the TSX to extend the term, from 5 to 10 years, of the 1 503 759 warrants to purchase common shares of Ambrilia at an exercice price of $0.56 per share granted to Investissement Quebec, and this, 10 business days following the date hereof. The warrants were issued to Investissement Quebec under the Biolevier program as previously announced on December 13, 2002. Such extension was already provided in the agreement with Investissement Quebec and was conditional upon changes being made to the rules of the TSX to allow for warrants to be granted for a term longer than five years. The new expiry date of the warrants is February 6, 2013.


Ambrilia Biopharma Inc. (TSX:AMB) is a biopharmaceutical company developing innovative therapeutics in the fields of oncology and infectious diseases. Ambrilia's broad and innovative pipeline includes mid to early-stage products and two specialty generics, the first of which is late-stage and high-value. Ambrilia's first generic product is a long acting formulation of the drug Octreotide, used for the treatment of a rare disease called acromegaly caused by a tumor of the pituitary gland, and for certain rare digestive tumors. The second generic product is a sustained-release formulation of Goserelin, used primarily for the treatment of hormone-sensitive prostate cancer. Mid to early-stage products include: PPL-100, a promising protease inhibitor for the treatment of HIV/AIDS currently in Phase I clinical trials; PCK3145, a therapeutic anti-cancer peptide with signal transduction mediated effects on tumor metastasis and angiogenesis soon to enter a Phase II North American trial for prostate cancer; TVT-Dox, a novel anti-cancer technology targeting tumor vasculature for which an IND filing for the treatment of solid tumors is expected in 2008; SPC3, a novel fusion inhibitor for the treatment of HIV/AIDS which is at the preclinical stage and INT-XXX3, a technologically advanced integrase inhibitor program for the treatment of HIV/AIDS. Ambrilia's diagnostic products include PSP94 (Prostate Secretory Protein of 94 amino acids) immunoassay for the diagnosis and prognosis of prostate cancer.

Forward-looking statements

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could 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. 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. 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.

Contact Information