Med BioGene Inc.
TSX VENTURE : MBI

Med BioGene Inc.

March 19, 2007 08:30 ET

Med BioGene Announces Collaboration to Develop Genetic Biomarkers for Lymphoma and Leukemia for Use in Diagnosis, Prognosis and Drug Development

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 19, 2007) - Med BioGene Inc. (TSX VENTURE:MBI), a biotechnology company developing genetic biomarkers to improve screening, diagnosis, prognosis and treatment decisions for patients suffering from certain cancers and cardiovascular disease, is pleased to announce that it has entered into a research collaboration and option agreement with Duke University to further develop and validate MBI's genetic biomarkers for lymphoma and leukemia using its Gene Expression Profiling System™.

"We are very pleased and enthusiastic about collaborating with Duke University, one of the world's most prestigious academic institutions," said Erinn Broshko, Chief Executive Officer of MBI.

"This collaboration further demonstrates Med BioGene's focus and commitment to rapidly develop a novel tool using microarray analysis for disease diagnosis and prognosis and therapeutic development. We expect our Gene Expression Profiling System™ to be more accurate, faster and more cost effective than current methods of diagnosing lymphoma and leukemia. Furthermore, the development of these biomarkers is the first step towards personalized medicine and is intended to replace the conventional "one drug fits all" approach to disease management," concluded Mr. Broshko.

"In diagnosing and treating lymphoma and leukemia, there is a need for technologies that can provide maximum insight into gene regulation and gene alterations on the transcriptional level. Microarray analysis used to perform gene expression profiling may be the method of choice in this regard because it allows simultaneous detection of the expression of nearly all human genes in one experimental approach," noted Dr. David Rizzieri, MD, Associate Professor of Medicine at the Duke University Medical Center. "Med BioGene's technology may have applications in clinical research, disease diagnosis, treatment and drug development. Our investigators are eager to begin the collaboration," added Dr. Rizzieri.

About the Collaboration

The collaboration between MBI and Duke includes, among other things, the following terms: Duke will provide to MBI a certain number of samples from patients with clinically confirmed lymphoma and leukemia for genetic analysis by MBI using its Gene Expression Profiling System™; MBI and Duke will collaborate on the further analysis of those results; Duke grants to MBI an option to acquire exclusive world-wide licensing rights to the intellectual property developed by Duke under the collaboration; MBI will pay to Duke certain royalties on revenue received from the commercialization of the intellectual property developed under the collaboration; Duke will be entitled to publish the results of the collaboration, subject to review and comment by MBI; and MBI will reimburse Duke for certain expenditures incurred under the collaboration. Initiation of the research to be conducted under the collaboration is subject to receipt by the parties of all relevant institutional review board approvals.

About Med BioGene

MBI is a biotechnology company with advanced research and development in gene expression technology. MBI intends to utilize its expertise in gene expression to identifying those genes, known as "biomarkers", which mark the presence of various diseases. These biomarkers will be used as an effective tool for accurate and rapid screening and diagnosis and to unlock innovation in therapeutic development and treatment. With a robust set of qualified biomarkers, disease screening and diagnosis will be quicker, less invasive and more accurate and the safety of new therapeutics will be increased, drug products will get to patients in less time and treatment decisions will be more informed.

MBI is currently focused on developing and validating biomarkers in respect of lymphoma, leukemia, colorectal cancer and cardiovascular disease through its Gene Expression Profiling System™.

Certain statements in this press release contain forward-looking information under applicable 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 information, although not all forward-looking information contains these identifying words. Forward-looking information includes, but are not limited to, those with respect to future profits, future product revenues, future operations and plans, the use of proceeds from financings, the timing of clinical trials and the completion date for clinical trials and the prospects for negotiating partnerships or collaborations and their timing. These forward-looking statements or information are only predictions based upon MBI's current expectations, and actual events or results may differ materially. MBI may not actually achieve the plans, intentions or expectations disclosed in its forward-looking information. Forward-looking information is subject to known and unknown risks and uncertainties and are based on uncertain assumptions that could cause MBI'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 this forward-looking information, which speaks only as of the date of this press release. Our forward-looking information does not reflect the potential impact of any future partnerships, collaborations, acquisitions, mergers, dispositions, joint ventures or investments MBI may make. All forward-looking information is qualified in its entirety by this cautionary statement and MBI undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date of this press release, other than as required by applicable law.

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