Mistral Pharma Inc.

Mistral Pharma Inc.

October 30, 2006 08:48 ET

Mistral Pharma to Present at BioFinance 2006

MONTREAL, QUEBEC--(CCNMatthews - Oct. 30, 2006) - Mistral Pharma Inc. (TSX VENTURE:MIP) ("Mistral") announced today that it will be a presenter at the BIOFINANCE 2006 conference at the Toronto Marriott Eaton Centre. This presentation will be given by Mr. Bertrand Bolduc, President and Chief Executive Officer of Mistral Pharma on November 1st, 2006 in the Trinity II room at 10:20 a.m.

"This is a great opportunity to showcase Mistral Pharma to the Canadian investment community" commented Bertrand Bolduc. "Mistral has never been in a better financial situation, and we are excited to update investors on our upcoming developments" he added.

About Mistral Pharma Inc.

Mistral Pharma is a pharmaceutical product development and drug delivery company and its first branded product, MIST-B01, showed positive results at its first pilot clinical trial. Mistral is also working on two other control-delivery branded products. Mistral positions itself as a development partner for specialty pharmaceutical companies. Additional information about Mistral Pharma can be obtained on Mistral Pharma's website at www.mistralpharma.com

About BioFinance

BioFinance Early Phase 2006 is a one-day program that will feature presentations by the CEOs from 30 emerging life science companies from across Canada and the US. It will also feature panel discussions by experts on topics including early stage financing, aspects of the deal and US financing sources. The presenting companies will be developing new medicines, devices, diagnostics, medical technologies and systems. These companies will likely have some angel, private or seed financing already in place and will be starting the search for investment in the range of up to $ 2 to 5 million. For more information visit the BioFinance website at www.biofinance.ca.

Forward-looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of Mistral Pharma. These statements are based on assumptions and uncertainties as well as on Management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for Mistral Pharma's products, the impact of price pressures exerted by competitors, results from clinical studies and regulatory approval process as well as general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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