SOURCE: Upstream Biosciences Inc.

June 25, 2008 08:00 ET

Upstream Appoints University of North Carolina Chemoinformatics Expert to Scientific Advisory Board

Company's Development of Drugs to Treat Tropical Diseases Will Benefit From Expertise of Dr. Alexander Tropsha

VANCOUVER, BC--(Marketwire - June 25, 2008) - Upstream Biosciences Inc. (OTCBB: UPBS) today announced the appointment of Alexander Tropsha, Ph.D. of the University of North Carolina (UNC), one of the world's leading chemoinformatics experts, to the company's Scientific Advisory Board. Chemoinformatics combines chemistry and computer science to accelerate the speed and reduce the cost of discovering drugs to treat disease.

Joel L. Bellenson, Chief Executive Officer of Upstream, said Dr. Tropsha brings invaluable knowledge and validation to the company's drug discovery and drug development programs.

"Dr. Tropsha is widely considered to be the leading authority in the world at applying chemoinformatics to infectious disease, including malaria," said Bellenson. "We are fortunate that he has chosen Upstream as his first advisory board position with a company that is developing treatments for infectious disease."

Dr. Tropsha said he anticipates working closely with Upstream to help the company succeed at its primary objective of developing novel compounds to treat the parasitic diseases that afflict millions of people living and travelling in the tropics.

"I have reviewed and am impressed with Upstream's advanced computational drug discovery platform. The company has demonstrated the capability to identify and optimize multiple drug candidates quickly and efficiently," said Dr. Tropsha. "Upstream's library of compounds has produced a number of candidates with the potential to treat major tropical diseases."

Dr. Tropsha is Professor of Medicinal Chemistry and Chair of the Division of Medicine Chemistry and Natural Products of UNC's Eshelman School of Pharmacy. Dr. Tropsha is also Director of the Laboratory for Molecular Modeling at the School of Pharmacy and Director of the UNC Graduate Program in Bioinformatics and Computational Biology.

The research in Dr. Tropsha's laboratory is supported by several grants from the National Institutes of Health, National Science Foundation, the Environmental Protection Agency, and pharmaceutical companies. He has authored or co-authored more than 100 peer-reviewed publications and book chapters.

His current research interests include computer-aided drug design (ligand-based and structure-based design methods), chemoinformatics (quantitative structure activity relationships, combinatorial library design, and database mining), structural bioinformatics (protein structure analysis and prediction, identification of structural and functional protein motifs), and molecular simulations of proteins and peptides.

Dr. Tropsha is a member of several editorial boards, including the Journal of Chemical Information and Modeling. He is a permanent member of the National Institutes of Health Biodata Management and Analysis Study Section.

He is an elected member of the Board and vice-chair of the International QSAR and Modeling Society. QSAR (quantitative structure-activity relationships) is used to predict chemical properties directly from chemical structure. When combined with other alternative test methods, QSAR can minimize the need for animal tests while making the use of chemicals safer.

Dr. Tropsha received his MS degree in chemical enzymology in 1982 and his Ph.D. in biochemistry and pharmacology in 1986, both from Moscow State University. He emigrated to the United States in 1989, two years before the dissolution of the Soviet Union. In 1991, after two years of postdoctoral research at UNC, he joined the School of Pharmacy as an assistant professor and director of the Laboratory for Molecular Modeling.

About Upstream Biosciences Inc.

Founded in 2004, Upstream Biosciences is focused on developing and commercializing drug candidates to treat tropical diseases, including malaria, trypanosomiasis and leishmaniasis. Caused by parasites that have developed resistance to available treatments, these diseases afflict millions of people living in the tropics with death, illness, malnourishment and economic hardship. Upstream's drug candidates are generated using its proprietary computer-assisted drug discovery progress. The company's lead drug candidates have demonstrated anti-parasitic efficacy in vitro and positive safety data in animals. Animal efficacy studies are anticipated to begin during the Third Quarter of 2008.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that animal efficacy studies are anticipated to begin during the third quarter of 2008. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that the Company does not execute its business plan; (ii) the inability of the Company to keep pace with technological advancements in the field of genetic diagnostics and the treatment of tropical parasitic diseases; (iii) the Company's inability to adequately protect its intellectual property or the Company's inadvertent infringement of third party intellectual property; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.

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