Lorus Therapeutics Receives $600 Thousand From Escrow Account



    TORONTO, July 16 /CNW/ - Lorus Therapeutics Inc. (TSX: LOR, AMEX:   LRP)
("Lorus" or the "Corporation"), a biopharmaceutical company specializing in
the research and development of pharmaceutical products and technologies for
the management of cancer, today announced that the Corporation has received
the $600 thousand originally held in escrow in connection with Lorus'
corporate reorganization completed on July 10, 2007. The Corporation has
received total net proceeds of $6.9 million in non-dilutive financing as part
of this transaction.
    For further information about the corporate reorganization, please refer
to our press release dated July 10, 2007 available on Lorus' website or at
Sedar.com.

    Forward Looking Statements

    This press release may contain forward-looking statements within the
meaning of Canadian and U.S. securities laws. Such statements include, but are
not limited to, statements relating to: our research program plans, our plans
to conduct clinical trials, the successful and timely completion of clinical
studies and the regulatory approval process, our ability to fund future
research, our plans to obtain partners to assist in the further development of
our product candidates, the establishment of corporate alliances, the
Company's plans, objectives, expectations and intentions and other statements
including words such as "continue", "believe", "plan", "expect", "intend",
"will", "should", "may", and other similar expressions. Such statements
reflect our current views with respect to future events and are subject to
risks and uncertainties and are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by us are inherently subject
to significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause our actual results,
performance or achievements to be materially different from any future
results, performance, or achievements that may be expressed or implied by such
forward-looking statements, including, among others: our ability to obtain the
capital required for research and operations, the inherent risks in early
stage drug development including demonstrating efficacy, development time/cost
and the regulatory approval process; the progress of our clinical trials; our
ability to find and enter into agreements with potential partners; our ability
to attract and retain key personnel; changing market conditions; and other
risks detailed from time-to-time in our ongoing quarterly filings, annual
information forms, annual reports and annual filings with Canadian securities
regulators and the United States Securities and Exchange Commission.
    Should one or more of these risks or uncertainties materialize, or should
the assumptions set out in the section entitled "Risk Factors" in our Annual
Information Form underlying those forward-looking statements prove incorrect,
actual results may vary materially from those described herein. These
forward-looking statements are made as of the date of this press release and
we do not intend, and do not assume any obligation, to update these
forward-looking statements, except as required by law. We cannot assure you
that such statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not guarantees of
future performance and accordingly investors are cautioned not to put undue
reliance on forward-looking statements due to the inherent uncertainty
therein.
    Lorus Therapeutics Inc.'s recent press releases are available through the
Company's website at www.lorusthera.com. For Lorus' regulatory filings on
SEDAR, please go to www.Sedar.com. For SEDAR filings prior to July 10, 2007
you will find these under the company profile for Global Summit Real Estate
Inc. (Old Lorus).





For further information:

For further information: Lorus Therapeutics Inc., Dr. Saeid Babaei,
(416) 798-1200 ext. 490, ir@lorusthera.com

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