Med BioGene Announces Adjournment of Annual Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 2, 2012) - Med BioGene Inc. (TSX VENTURE:MBI) today announced that the annual meeting of MBI shareholders scheduled for, and convened on March 30, 2012, was adjourned due to the lack of requisite quorum.

The annual meeting has been adjourned to Tuesday, April 10, 2012 at 10:00 a.m. (Pacific Time) at the Terminal City Club, 837 West Hastings Street, Vancouver, British Columbia.

MBI's articles provide that the quorum for the transaction of business at a meeting of shareholders is two shareholders represented in person or by proxy holding in aggregate at least 20% of the issued shares.

At the adjourned meeting to be held on April 10, 2012, if the 20% quorum is not present then the shareholders represented in person or by proxy at the meeting shall constitute quorum.

The Company's notice of meeting, information circular and form of proxy in respect of the annual meeting available on SEDAR at www.sedar.com and mailed to the MBI shareholders remain unchanged.

Proxies previously submitted in respect of the meeting will be voted at the adjourned meeting unless properly revoked. Given the adjournment, proxies may now be received by our registrar and transfer agent, Computershare Investor Services Inc., no later than April 4, 2012 at 10:00 a.m. (Pacific Time). Proxies received by Computershare after this time will not be accepted; however, the Chairman of the meeting may determine, in his sole discretion, to accept a proxy that is delivered in person to the Chairman at the meeting as to any matter in respect of which a vote has not already been cast.

About Med BioGene

MBI is a life science company focused on the development and commercialization of genomic-based personalized clinical laboratory diagnostic tests. MBI is committed to advancing personalized medicine by commercializing tests that provide clinically relevant information to improve patient treatment and reduce health care costs. MBI and Precision Therapeutics have partnered to commercialize MBI's flagship test, LungExpress Dx. For more information on MBI, please visit www.medbiogene.com. For more information on Precision Therapeutics, please visit www.precisiontherapeutics.com.

Certain statements in this press release contain forward-looking statements and information ("forward-looking statements") under applicable United States and Canadian securities legislation. Words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward looking statements include, but are not limited to, that with respect to the timing, completion and/or results of clinical trials or studies, future profits, future product revenues, future shareholder value, future operations and plans, the completion and use of proceeds from transactions or financings and the prospects for negotiating partnerships or collaborations and their timing. These forward-looking statements are only a prediction based upon the party's current expectations, and actual events or results may differ materially. A party may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on uncertain assumptions that could cause a party's actual results and the timing of events to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. A party's forward-looking statements do not reflect the potential impact of any future partnerships, collaborations, acquisitions, mergers, dispositions, joint ventures or investments that that party may make. All forward-looking statements are qualified in their entirety by this cautionary statement and a party undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date of this press release, other than as required by applicable law.

LungExpress Dx is MBI's trademark. Each trademark, trade name or service mark of any other entity appearing in this news release belongs to its holder.