Protox strengthens patent portfolio and protection of PRX302



    VANCOUVER, Oct. 18 /CNW/ - Protox Therapeutics Inc. (TSX-V:PRX), a leader
in advancing novel, targeted protein toxin therapeutics for the treatment of
cancer and other proliferative diseases, today announced that the U.S. Patent
and Trademark Office has issued U.S. Patent 7,282,476 covering the composition
of PRX302, the Company's lead drug candidate from its PORxin(TM) technology
platform, and its use for the treatment of prostate cancer. Additional claims
were issued which protect other modified proaerolysin variants targeting
prostate cancer. The patent was issued to the University of Victoria
Innovation and Development Corporation and Johns Hopkins University and is
licensed to Protox on an exclusive worldwide basis.
    "The issuance of Protox's first U.S. patent provides key patent
protection for PRX302 and is an important step in strengthening our PORxin
intellectual property portfolio," said Dr. Fahar Merchant, President and Chief
Executive Officer of Protox. "We continue to file and prosecute additional
patent applications in the U.S., Canada and globally to build and protect all
of our valuable discoveries."

    About PRX302

    PRX302 is the lead drug candidate in the company's PORxin technology
platform. PORxin drugs are pro-drugs that are activated by specific proteases
produced at elevated levels on the surface of target cells. PRX302 has been
generated by engineering the naturally occurring toxin proaerolysin to create
a potent agent with a distinct mode of action. The drug has been engineered so
that it is activated by prostate-specific antigen (PSA), an enzyme that is
overproduced in patients suffering from prostate cancer and BPH (benign
prostatic hyperplasia or enlarged prostate). Once activated, the drug punches
holes in the target cells causing the contents to leak out and ultimately cell
death.

    About Protox

    Protox Therapeutics is a leader in advancing novel, targeted protein
toxin therapeutics for the treatment of cancer and other proliferative
diseases. Two novel drug candidates derived from the company's INxin(TM) and
PORxin platforms, are being developed in three clinical programs. A Phase 2a
clinical trial evaluating PRX321 (INxin) for the treatment of primary brain
cancer has been completed and the drug has received Fast Track Designation and
Orphan Drug Status from the US FDA. Patient enrollment has been completed in
two separate Phase 1 clinical trials evaluating PRX302 (PORxin) for the
treatment of localized prostate cancer and benign prostatic hyperplasia
(enlarged prostate).

    NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
    RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
    ADEQUACY OR ACCURACY OF THIS RELEASE.

    Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from those implied by such statements,
and therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on Protox'
current beliefs as well as assumptions made by and information currently
available to Protox and relate to, among other things, anticipated financial
performance, business prospects, strategies, regulatory developments, market
acceptance and future commitments. 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 Protox in its public securities filings; actual
events may differ materially from current expectations. Protox disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

    %SEDAR: 00019575E




For further information:

For further information: James Beesley, Director, Investor Relations,
Protox Therapeutics, (604) 484-0975, jbeesley@protoxtherapeutics.com; Michael
Moore, Investor Relations, Equicom Group, (416) 815-0700 x 241,
mmoore@equicomgroup.com

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