Ambrilia Biopharma Inc.
TSX : AMB

Ambrilia Biopharma Inc.

June 10, 2008 11:33 ET

Ambrilia Unveils its Complete Antivirals Portfolio and Highlights Progress Made in the Strategic Plan Execution

MONTREAL, QUEBEC--(Marketwire - June 10, 2008) - Ambrilia Biopharma Inc. (TSX:AMB) today unveiled during its Annual General Meeting its complete antivirals portfolio comprising of small molecules and peptides targeting HIV/AIDS, Hepatitis C and Influenza A, as well as highlighted the latest progress made in the strategic plan execution.

"Important strides were made recently and now Ambrilia has in hand a safe and effective Phase III product, as well as a final Goserelin formulation, each targeting $1 billion-plus markets," said Philippe Calais, President and CEO. "We are advancing well in the process of monetizing these major non-virology assets through third party agreements. This represents a core objective of the strategic plan execution which should enable the Company to strengthen its financial position as well as focus on its longer-term value drivers, its unique antivirals."

Also today, the Company announced that it will present in vitro and in vivo data on its new HIV integrase inhibitors (small molecules), a result of a recent lead optimization effort, at the XVII International HIV Drug Resistance Workshop held this week, June 10-14, in Sitges, Spain. These data which show improved activities against the integrase enzyme and viruses will be presented in a poster during a poster session to be held on Wednesday, June 11.

RECENT HIGHLIGHTS

- Reported positive safety and efficacy Phase III results for Octreotide (C2L) supporting its ability to replace Novartis' Sandostatin®LAR with less frequent injections and non inferior efficacy for the treatment of acromegaly

- Expanded divestment opportunity pursuant to termination of U.S. license agreement with Covidien for C2L for a one time payment of $US1.2M to Ambrilia

- Achieved a final 3-month release formulation of Goserelin for the treatment of hormone-sensitive prostate cancer and other gynecological indications; reproducibility studies are ongoing

- Progress made in the antiviral small molecules and peptides research programs; on track to meet the objective of having at least one preclinical candidate in H1/09 or earlier

2007 HIGHLIGHTS

- Reported positive Phase II results showing the efficacy and safety of Octreotide (C2L) in acromegaly patients

- Started and completed the Phase III efficacy and safety study (Study 301) of Octreotide (C2L) in acromegaly patients

- Reported Phase I/II data for therapeutic peptide PCK3145 showing clinical activity in metastatic prostate cancer patients

- HIV integrase inhibitors data presented at prestigious scientific conferences, International HIV Drug Resistance Workshop and ICAAC

- Completed Korean partnership with Shin Poong for C2L

2007 CORPORATE HIGHLIGHTS

- Solidified financial position with the completion of a $C18.7M public offering and a $C5.8M private placement

- One additional research coverage on Ambrilia by analyst Neil Maruoka of Canaccord Adams

- Restored leadership with the appointment of President & CEO, Dr. Philippe Calais

WEBCAST DETAILS

Interested parties may access the webcast and presentation of the event on the Company's website at www.ambrilia.com, Investors' section, Conference calls and webcasts. The webcast will be archived for 365 days.

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. 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.

ABOUT AMBRILIA BIOPHARMA

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 therapeutic peptide for prostate cancer, a targeted delivery platform for cancer, a HIV protease inhibitor program (exclusive worldwide rights granted to Merck & Co., Inc.) as well antiviral small molecules (HIV integrase and entry inhibitors, HCV polymerase inhibitors) and peptides (HIV entry inhibitors, HCV entry inhibitors and FluA M2 proton channel inhibitors). Ambrilia's head office, research and development and manufacturing facilities are located in Montreal with a regional office in France. For more information, please visit the Company's web site: www.ambrilia.com.

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