Amorfix and QED Bioscience announce agreement to develop novel monoclonal
antibodies for cancer

TSX: AMF

TORONTO, June 24 /CNW/ - Amorfix Life Sciences and QED Bioscience announced today that they have entered into an agreement to develop high-affinity monoclonal antibodies against a number of targets for cancer. Under the agreement, QED will generate monoclonal antibodies against several disease specific epitopes (DSE's) on misfolded CD38 protein. The DSE's were identified by Amorfix using their proprietary ProMIS(TM) computational platform discovery technology.

"CD38 is a well characterized target on the surface of a variety of lymphoid tumors including multiple myeloma, AIDS-related lymphomas and post-transplant lymphoproliferations and is part of a complex network producing growth and survival signals to tumor cells. As such, CD38 represents an attractive target for therapeutic intervention with a specific antibody," said Dr. Robert Gundel, Chief Executive Officer at Amorfix. "Using our ProMIS(TM) technology, we have identified DSE's on misfolded CD38 that may provide the required specificity for our antibody to target and kill tumor cells expressing this protein while leaving normal cells intact. In addition, CD38 can be used as a prognostic marker which fits well into our strategy of developing companion diagnostics along with novel therapeutic antibodies. We are very pleased to be collaborating with QED Bioscience on this important and exciting project."

"We are very happy for the opportunity to add our expertise in monoclonal antibody development to the outstanding research being conducted at Amorfix" said Dr. Eileen Skaletsky, President and CEO of QED Bioscience. "Their technology is ideal for generating unique antibody targets, and we are looking forward to a rewarding and fruitful collaboration."

About Amorfix

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

About QED Bioscience

QED Bioscience is a leader in the field of custom antibody development for academic and industrial applications. With more than 20 years of experience in this field, QED Bioscience applies its proven proprietary methods to development of novel monoclonal and polyclonal antibodies from program design through small- or large-scale manufacturing. QED Bioscience's repertoire includes genetic immunization, anti-idiotype antibody development, and a patented growth medium for rapid and economical production of monoclonal antibodies in vitro. For more information about QED Bioscience visit www.qedbio.com.

This information release may contain certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Amorfix Life Sciences Ltd.

For further information: For further information: Dr. Robert Gundel, President & Chief Executive Officer, Amorfix Life Sciences Ltd., Tel: (416) 847-6957, Fax: (416) 847-6899, bob.gundel@amorfix.com; James Parsons, Chief Financial Officer, Amorfix Life Sciences Ltd., Tel: (416) 847-6929, Fax: (416) 847-6899, james.parsons@amorfix.com

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Amorfix Life Sciences Ltd.

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