SOURCE: Upstream Biosciences Inc.

February 20, 2008 08:00 ET

Upstream Biosciences Appoints Leading Bioinformatics Expert Dr. Winston Hide to Its Scientific Advisory Board

Dr. Hide's Expertise Spans Bioinformatics, Computational Genomics, Drug Discovery and Tropical Diseases and Includes Distinguished Positions in Academia, the Public Sector and Industry

VANCOUVER, BC--(Marketwire - February 20, 2008) - Upstream Biosciences Inc. (OTCBB: UPBS) today announced the appointment of Winston Hide, Ph.D., to its Scientific Advisory Board (SAB). Dr. Hide is a world-renowned bioinformatics expert who is the founder and Director of the South African National Bioinformatics Institute at the University of the Western Cape (UWC) in Cape Town, South Africa. He is Professor of Genomics at UWC and currently serves as Visiting Professor of Bioinformatics at the Harvard University School of Public Health. Dr. Hide's areas of expertise include computational biology and bioinformatics, genomics, tropical diseases and cancer. He has had a distinguished career as a researcher and teacher and also played a major role in creating a series of institutions for advanced biological and medical research in Africa and elsewhere.

As a member of Upstream's SAB, Dr. Hide has agreed to assist the company in the ongoing refinement of its advanced computational drug discovery platform and the development of its library of novel compounds for the treatment of tropical parasitic diseases, including malaria, leishmaniasis and trypanosomiasis, or African sleeping sickness.

"Winston represents a treasure trove of knowledge and insight that are highly relevant to our drug discovery efforts," said Joel L. Bellenson, Chief Executive Officer of Upstream. "He is a world class bioinformatics expert who can understand our unique computational discovery platform at a profound level. He is an African who has devoted a significant portion of his career to building first class scientific institutions in Africa and to discovering better treatments for devastating tropical diseases. His broad research interests include cancer, and our library may contain compounds with potential against malignancies. Winston is also an entrepreneur who has achieved success in private industry. We look forward to his contributions to our efforts to rapidly advance our promising drug candidates for malaria and other tropical diseases."

Upstream's computational drug discovery platform has the potential to identify and optimize multiple drug candidates quickly and efficiently. The company currently is conducting preclinical tests on a number of compounds in the hope of treating major tropical diseases. Upstream recently announced preliminary results indicating that its novel structural class of agents is demonstrating promising in vitro activity against malaria. Upstream's compounds have also shown encouraging therapeutic potential in vitro against leishmaniasis and trypanosomiasis. Malaria, leishmaniasis and trypanosomiasis, which are caused by related parasites, are leading sources of disability, death and economic hardship in Africa.

"With our shared commitment to developing solutions for diseases disproportionately affecting the people of Africa and other developing nations, I am delighted to support the Upstream team at this exciting time in the company's development, as its computational discovery platform and library of drug candidates are producing positive preclinical data," said Dr. Hide. "Upstream's strategy of advancing its pipeline by leveraging relationships with a variety of global institutions is congruent with my own approach, and I look forward to supporting its drug discovery and development efforts going forward."

In addition to his roles at UWC and Harvard, Dr. Hide currently leads a pathogen bioinformatics unit of the South African Medical Research Council where he is responsible for the bioinformatics of the Tsetse Fly Genome Project. The tsetse fly carries the pathogen that causes African sleeping sickness. In collaboration with the European 6th Framework Programme, the U.S. Department of Energy, the Brazilian Genome Project and the International Human Genome Consortium, Dr. Hide has developed several systems for disease gene discovery. Collaborating Institutions include Stanford, Harvard, Yale, Oxford, Riken, Cambridge and Tokyo Universities, and the Pasteur Institute.

Dr. Hide founded the African Society for Computational Biology and Bioinformatics and established Africa's first World Health Organization African Regional Training Centre for Bioinformatics, its first National Bioinformatics Network, its first large-scale HIV bioinformatics program and its first accredited graduate program in bioinformatics. He was the first African to be elected to the Board of Directors of the International Society for Computational Biology. Dr. Hide was a Keck Computational Fellow at the Baylor College of Medicine Department of Molecular Genetics and also a Fellow at the Smithsonian National Museum of Natural History in Washington, DC. He was a Director of Genomics at MasPar Computer Corporation in Silicon Valley. Dr. Hide is an International Kerr Programme Fellow of the Ludwig Institute for Cancer Research.

Dr. Hide received a BSc degree from the University College Cardiff, University of Wales and a Ph.D. in molecular genetics from Temple University. He lectures widely and serves as an editorial board member and reviewer for numerous scientific journals. Dr. Hide is the recipient of many honors and awards.

About Upstream Biosciences Inc.

Founded in 2004, Upstream Biosciences is a pioneer in the discovery and development of novel compounds against tropical parasitic diseases and in the development of genetic diagnostics for cancer susceptibility and drug response. Upstream's innovative approach to drug discovery and its proprietary data mining pipeline enable it to apply advanced computational approaches to generating novel drug candidates and to locating and analyzing the genetic variations important to disease progression and drug response. For more information, visit www.upstreambio.com.

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: (i) the Company's library may contain compounds with potential against malignancies; (ii) the Company's computational drug discovery platform has the potential to identify and optimize multiple drug candidates quickly and efficiently; (iii) the Company is currently conducting preclinical tests on a number of compounds in the hope of treating major tropical diseases; (iv) the Company is developing novel compounds against tropical parasitic diseases and developing genetic diagnostics for cancer susceptibility and drug response; and (v) the Company may apply advanced computational approaches to generating novel drug candidates and to locate and analyze the genetic variations important to disease progression and drug response. 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; (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties; and (x) the conference not proceeding as planned for any reason. 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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