Osta Announces Change of Auditors

THE ISSUE OF THIS PRESS RELEASE IS LIMITED TO CANADA ONLY. THIS PRESS RELEASE
SHOULD NOT BE ISSUED IN THE UNITED STATES THROUGH U.S. NEWS WIRE AGENCIES.


Osta Biotechnologies Inc. (NEX:OBI) advises that MNP S.E.N.C.R.L. have resigned
as auditors of the Company. Accordingly, the Company, on behalf of the Audit
Committee and the Board of Directors, has appointed Nexia Friedman LLP Chartered
Accountants as successor auditors to MNP effective August 6, 2012.


There have been no reservations contained in the auditor's reports rendered by
MNP for the two most recent fiscal years and, in the opinion of the Company, no
reportable events within the meaning of National Instrument 51-102 have occurred
prior to the date hereof. The Company will file the required Notice of Change of
Auditor reporting package in accordance with National Instrument 51-102. The
resignation by MNP was not the result of any disagreement between the Company
and MNP on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure.


About Osta Biotechnologies Inc.

Osta is a biopharmaceutical company listed on the NEX board of the TSX Venture
Exchange currently focusing on developing therapeutics for Cancer and
Alzheimer's disease.