Thallion Pharmaceuticals Inc.
TSX : TLN

Thallion Pharmaceuticals Inc.

August 22, 2007 17:00 ET

Thallion Successfully Completes ECO-4601 Clinical Phase I/II Study in Oncology

MONTREAL, QUEBEC--(Marketwire - Aug. 22, 2007) - Thallion Pharmaceuticals Inc. (TSX:TLN) announced today that it has successfully completed recruitment and administration of the extension phase of its Phase I/II clinical trial investigating ECO-4601 in advanced cancer patients. In the extension phase of the study, 12 patients were treated at the highest dose, 480mg/m2/day, as determined in first portion of the trial. The Phase I/II clinical trial was designed to examine the safety, pharmacologic profile and anti-tumour efficacy of ECO-4601 for the treatment of advanced cancer patients.

"The successful completion of our first clinical trial with ECO-4601 allows us to move this program forward in a Phase II setting where the compound will be tested in specific cancer indications," said Lloyd M. Segal, Chief Executive Officer of Thallion Pharmaceuticals Inc. "Final data analysis of the safety and pharmacokinetic profile along with efficacy is expected to be completed and presented next quarter and will be used to design the Phase II trial which we expect to initiate in the first half of 2008."

In the Phase I/II trial, ECO-4601 was administered to patients in 21 day cycles consisting of a two week continuous intravenous infusion followed by a one week rest period. All patients were refractory to their respective standard of care therapy. In the first portion of the Phase I/II trial, 14 patients (ten colorectal, two ovarian, one duodenal and one glioma), received escalating doses ranging from 30 to 480mg/m2/day to assess the safety, pharmacokinetics and maximum tolerated dose (MTD) of ECO-4601. The product was safe and well tolerated and a maximum target dose was attained before an MTD was reached, as reported at ASCO in June 2007. In the second portion of the Phase I/II trial 12 additional patients were treated at the highest dose, 480mg/m2/day, as determined in the first portion of the study, to obtain additional safety and pharmacokinetic data, as well as an early indication of the compound's clinical efficacy.

The clinical study was conducted at the Segal Cancer Centre, Jewish General Hospital, McGill University and the Charles Lemoyne Hospital in Montreal in conjunction with Thallion Pharmaceuticals Inc.

About ECO-4601

ECO-4601 is a novel small molecule derived from a nonpathogenic microorganism. It has demonstrated broad in vitro cytotoxic activity across a diverse panel of tumour cell lines and in vivo efficacy in a number of xenograft tumour models. Preclinical data suggest that ECO-4601 is a targeted anti-cancer agent with dual activity: selective binding to the peripheral benzodiazepine receptor (PBR) and inhibition of the Ras-MAPK pathway. ECO-4601 was discovered using DECIPHER®, Thallion's proprietary genomics-based drug discovery platform.

About Thallion Pharmaceuticals Inc.

Thallion Pharmaceuticals Inc. (TSX:TLN) is a biotechnology company developing pharmaceutical products in the areas of infectious disease and oncology. Thallion's clinical-stage programs include: Shigamabs®, a dual antibody product for the treatment of Shigatoxin-producing E. coli bacterial infections; ECO-4601, a novel anticancer therapy derived from a nonpathogenic microorganism; and CAP-232, a targeted therapy with potential efficacy in multiple oncology indications. Thallion Pharmaceuticals was formed on March 14, 2007 by the amalgamation of Ecopia BioSciences Inc. and Caprion Pharmaceuticals Inc. Additional information about the Company can be obtained at www.thallion.com.

Forward-Looking Statements

This press release contains certain forward-looking statements, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and other similar expressions which constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time-to-time in the Company's ongoing filings with the Canadian securities regulatory authorities which filings can be found at www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws.

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