AMORFIX CLOSES $.5 MILLION PRIVATE PLACEMENT

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TSX: AMF

TORONTO, Feb. 28 /CNW/ - Amorfix Life Sciences Ltd. (TSX: AMF) announced today that it has closed a non-brokered private placement, pursuant to which a total of 1,470,586 common shares of Amorfix were issued at a price of $0.34 per common share for gross proceeds of $500,000.

The Company intends to use the net proceeds of the private placement for general corporate purposes.   The common shares issued in connection with the private placement are subject to a four month hold period that expires on June 29, 2011.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Amorfix
Amorfix Life Sciences Ltd. (TSX:AMF) is a product development company developing therapeutic products and diagnostic devices targeting misfolded protein diseases including Alzheimer's Disease (AD), cancers, and ALS. Amorfix utilizes its computational discovery platform, ProMIS™, to predict novel Disease Specific Epitopes ("DSEs") on the molecular surface of misfolded proteins. Amorfix's lead programs include therapeutics and companion diagnostics for cancers, antibodies and vaccines to DSEs in ALS and AD diagnostic tests. In addition, Amorfix's proprietary Epitope Protection™ technology enables it to specifically identify very low levels of misfolded proteins in a biological sample. The Company's diagnostic programs include an ultrasensitive method for the detection of aggregated beta-Amyloid in brain tissue, CSF and blood from animal models of AD, months prior to observable amyloid formation, and development of a human screening test for AD. For more information about Amorfix, visit www.amorfix.com.

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