Prostate Cancer Canada Grants Award to Osta's Principal Investigator

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. (TSX VENTURE:OBI) today announced that its principal
investigator for the pre-clinical studies on its cancer program, Dr. Moulay
Alaoui-Jamali has been awarded a grant of $60,000 by Prostate Cancer Canada, a
Canadian National Foundation dedicated to the elimination of prostate cancer
through research, education, support and awareness. This award has been granted
to advance the basic science behind HO-1 signaling in hormone refractory
prostate cancer. This research will have potential long-term implications for
understanding the impact of Osta's novel HO-1 inhibitors on HO signaling and
advanced prostate cancer. This study is conducted in collaboration with Dr. Ajay
Gupta, Osta Biotechnologies; Dr. Walter A. Szarek, a Professor Emeritus,
Department of Chemistry, Queen's University, Kingston, Ontario; Dr. Tarek
Bismar, an Associate Professor at the Southern Alberta Cancer Institute,
Departments of Pathology & Laboratory Medicine and Oncology, University of
Calgary, Alberta and Dr. Hyman M. Schipper, a Professor at the Department of
Neurology and Medicine at the Jewish General Hospital and McGill University.


Dr. Alaoui-Jamali, the Principal Investigator of this study and a Professor of
Medicine at McGill University and the Group Leader of Drug Discovery at the
Segal Cancer Centre of the Jewish General Hospital, commented "We are very
pleased to have received this award, which will allow us to pursue the basic
science leading to the understanding of HO-1 function in the progression of
prostate cancer."


Dr. Ajay Gupta, Chairman & CEO of Osta commented "The successful granting of
this research proposal through a Canadian National competition and a peer-review
process is very exciting and reflects the recognition of HO signaling in cancer
by the scientific community. Certainly, the basic knowledge generated from this
work will help advance Osta's cancer therapeutic program directed towards the
development of its novel HO-1 inhibitors to treat advanced prostate cancer."


Osta Biotechnologies Inc.

Osta is a biopharmaceutical company listed on the TSX Venture Exchange (TSX
VENTURE:OBI) dedicated to developing novel diagnostics and therapeutics for the
aging population particularly in the areas of Cancer, Alzheimer's disease,
Osteoporosis, Osteoarthritis and XLH.


Certain information in this press release is forward-looking and is subject to
numerous risks and uncertainties. By their nature, such forward-looking
statements involve risks and uncertainties that could cause actual results to
differ materially from those contemplated by the forward-looking statements.
These risks include actions of Osta's competitors, and those inherent in
scientific research and development.