New Preclinical Data Supports Role of Talabostat in Enhancing Immune Functions and Promoting The Body's Natural Ability to Figh

Point Therapeutics, Inc. (NASDAQ: POTP) presented today
new preclinical data in mice indicating that talabostat's effect on
the innate immune system correlated with tumor suppression and
rejection. These data were presented at the American Association of
Cancer Research Annual Meeting (AACR) in Washington D.C. and showed a
significant increase in the infiltration of tumor-fighting
neutrophils, which are part of the innate immune system. At day 60,
the neutrophil-infiltrated tumors in the mice studied were
significantly reduced by 79% (where P is less than 0.00005) in size.
   Talabostat is a new form of targeted cancer therapy that in
preclinical models appears to employ a dual mechanism of action
through the inhibition of select dipeptidyl peptidases (DPPs), which
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 causes an increase in IL-1 beta 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.
   "These preclinical results add to the growing body of
peer-reviewed data demonstrating that talabostat can enhance the
innate and adaptive immune systems and improve their ability to fight
tumor growth," said Dr. Barry Jones, Senior Vice President of Research
at Point Therapeutics.
   Talabostat also inhibits fibroblast activation protein (FAP), a
DPP located in the tumor stroma, which is the connective tissue
supporting tumor growth. Preclinical studies have also indicated that
talabostat's inhibition of FAP can enhance anti-tumor activity. These
new data demonstrating talabostat's inhibition of FAP in mouse tumors
were presented today at AACR by researchers at Fox Chase Cancer
Center.
   "We are excited by the data presented at AACR by both Point and
Fox Chase. It supports our belief that talabostat is a unique compound
that can directly suppress tumor growth through the inhibition of FAP
while also causing anti-tumor activity by enhancing the immune system.
We are pleased about the positive preclinical and clinical results we
continue to obtain with talabostat, as we further study the compound
as a novel anti-cancer agent in lung cancer, metastatic melanoma,
chronic lymphocytic leukemia and pancreatic cancer," said Don Kiepert,
CEO of Point Therapeutics.
   Talabostat is currently in Phase 3 trials to evaluate its efficacy
to treat non-small cell lung cancer. It is also being evaluated in
Phase 2 studies to treat chronic lymphocytic leukemia, pancreatic
cancer and metastatic melanoma.

   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 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. This information includes
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 are not historical
facts, and can be identified by, among other things, the use of
forward-looking language, such as "believes," "feels," "expects,"
"may," "will," "should," "seeks," "plans," "schedule to,"
"anticipates" or "intends" or the negative of those terms, or other
variations of those terms of comparable 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-K for the year ended December
31, 2005 and from time to time in Point's periodic and other reports
filed with the Securities and Exchange Commission.