Forbes Medi-Tech Inc.
OTC Bulletin Board : FMTI

June 27, 2005 08:01 ET

Forbes Medi-Tech Completes FM-VP4 Toxicity Study; Study Results to Provide Key Component for Phase II IND Submission

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 27, 2005) - Forbes Medi-Tech Inc. (TSX:FMI)(NASDAQ:FMTI) today announced that it has completed a 90-day toxicity study for its cholesterol-lowering drug, FM-VP4. The final results, expected in August, will be used for the Investigational New Drug (IND) application for the upcoming US Phase II trial. To date, there have not been any significant adverse events that would jeopardize the IND submission to the FDA, anticipated in the third quarter of 2005. The Company plans to initiate a US Phase II clinical trial pending the outcome of the FDA review of the IND.

"FM-VP4 has consistently demonstrated a favorable safety profile through previous clinical and pre-clinical studies," said Charles Butt, President and CEO of Forbes Medi-Tech Inc. "The incoming study results provide the opportunity to demonstrate FM-VP4's continued safety profile over a longer period of time than previous studies and to complete the IND application."

About FM-VP4

FM-VP4 is a cholesterol absorption inhibitor, a new class in cholesterol-lowering drugs. FM-VP4 has demonstrated dramatic cholesterol-lowering and anti-atherosclerotic properties in pre-clinical studies. The cardiovascular market represents a significant opportunity as sales of cardiovascular pharmaceuticals are estimated to grow to over $40 billion by 2011. (Datamonitor, 2004)

About Forbes Medi-Tech Inc.

Forbes Medi-Tech Inc. is a life sciences company dedicated to the research, development and commercialization of innovative products for the prevention and treatment of cardiovascular disease. Our vision is to develop and market products along a treatment continuum that cardiovascular disease consumers, healthcare professionals and specialized cardiovascular disease research and healthcare institutions will identify, recommend and seek. Our business strategy is to develop and commercialize proprietary compounds to address the unmet needs of patients within the cardiovascular disease market.

This News Release contains forward-looking statements regarding the Company's toxicity study results, planned IND application and planned clinical trial, which statements can be identified by the use of forward-looking terminology such as "expected", "will be", "upcoming", "would", "anticipated", "plans", "opportunity" or comparable terminology referring to future events or results. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous factors, including the risk that the toxicity study results will not be available as planned or scheduled or will contain unanticipated results; uncertainty whether the Company will file an IND as anticipated or at all or if filed, whether it will be approved; uncertainty whether the Company will undertake a Phase II clinical trial as planned or at all or if undertaken, whether such trial will be completed or successful; intellectual property risks; the need for regulatory approvals, which are not assured and which may be denied or withdrawn; manufacturing risks and the need to manufacture to regulatory standards; product liability and insurance risks; the risk of unknown side effects; intellectual property risks; and the Company's need for future funding; any of which could cause actual results to vary materially from current results or the Company's anticipated future results. See the Company's reports filed with the Canadian and U.S. securities regulatory authorities from time to time for cautionary statements identifying important factors, risks and uncertainties that could cause actual results to differ materially from results referred to in forward-looking statements. The Company assumes no obligation to update the information contained in this News Release.


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