New Data Supports Talabostat's Ability to Stimulate Key Cytokines Essential to Immunostimulation; Point Therapeutics, Inc. Prese

Point Therapeutics, Inc. (NASDAQ: POTP) presented
yesterday new data further elucidating talabostat's ability to
stimulate key cytokines known to play an important role in
immunostimulation--the enhancement of the body's natural defenses
against cancer. This study was conducted in the laboratory of Dr.
Charles Dinarello, a Professor of Medicine at the University of
Colorado School of Medicine. The data were presented at the American
Association of Cancer Research Annual Meeting (AACR) International
Conference on Molecular Diagnostics in Cancer Therapeutic Development
in Chicago, IL.
   Talabostat is a new targeted anti-cancer agent believed to work
through a novel dual mechanism of action that inhibits select
dipeptidyl peptidases (DPPs). DPPs are enzymes that digest proteins
found naturally in the body, some of which can regulate tumor growth
and immune responses. By inhibiting these select DPPs, talabostat has
been shown in preclinical models to cause an increase in IL-1 beta, a
cytokine believed to play an important role in the positive regulation
of immune responses, which in turn stimulates the production of a
variety of cytokines and chemokines that promote the anti-tumor
activity of neutrophils, macrophages and T lymphocytes. Talabostat
also inhibits fibroblast activation protein (FAP), a DPP located in
the tumor stroma, which is the connective tissue supporting tumor
growth.
   In this latest study, talabostat was shown to also increase
production of IL-1 alpha. IL-1 alpha is a membrane bound cytokine
which can stimulate the immune system, helping the body to fight
cancer.
   "These results are interesting because they speak to talabostat's
ability to stimulate key cytokines that are believed to play an active
role in talabostat's anti-tumor activity by upregulating both the
innate and acquired immune system," said Dr. Dinarello. "The very
nature of talabostat's dual mechanism of action through both
immunostimulation and FAP inhibition speaks to its potential
versatility as a targeted agent with broad utility in several
different cancers," concluded Dinarello. An expert on IL-1, Dr.
Dinarello also serves on the Company's Scientific Advisory Board and
is a lead author in the study.
   A copy of the poster is available on the Company's Web site,
www.pther.com.

   About Point Therapeutics, Inc.:

   Point is a Boston-based biopharmaceutical company developing a
portfolio of dipeptidyl peptidase (DPP) inhibitors for use in cancer,
type 2 diabetes and as vaccine adjuvants. Point is currently studying
its lead product candidate, talabostat, in two Phase 3 double blind
placebo-controlled trials in non-small cell lung cancer. Point is also
studying talabostat in several Phase 2 trials, including as a
single-agent in metastatic melanoma, in combination with cisplatin in
metastatic melanoma, in combination with rituximab in advanced chronic
lymphocytic leukemia, and in combination with gemcitabine in
metastatic pancreatic cancer. In addition, Point's portfolio includes
two other DPP inhibitors in preclinical development--PT-630 for type 2
diabetes, and PT-510 as a vaccine adjuvant.

   Certain statements contained herein are not strictly historical
and are "forward looking" statements as defined in the Private
Securities Litigation Reform Act of 1995. These statements include,
without limitation, statements with respect to the company's clinical
development programs and the timing of initiation and completion of
its clinical trials. Forward-looking statements are statements that
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language, or by discussions of strategy or intentions. A number of
important factors could cause actual results to differ materially from
those projected or suggested in the forward looking statement,
including the risk factors described in Point's quarterly report on
Form 10-Q, filed with the Securities and Exchange Commission on August
9, 2006, and from time to time in Point's other reports filed with the
Securities and Exchange Commission.