ConjuChem not to file interim financial statements

MONTREAL, March 23 /CNW/ - ConjuChem Biotechnologies Inc. (TSX: CJB) ("ConjuChem" or the "Company") announced today that it has not filed its interim financial statements for the first quarter, ended January 31, 2010, which were due on March 17, 2010. ConjuChem also announced that it does not currently intend to file its interim financial statements during the pendency of its proceedings under the Companies' Creditors Arrangement Act (Canada), which were announced on February 26, 2010.

Relevant information and documentation relating to the restructuring of the Company, including financial information (the January 31, 2010 Balance Sheet and projected cash flows through May 2010) are available through RSM Richter Inc., the court-appointed Monitor, at the following website:

About ConjuChem

ConjuChem, developer of next generation medicines from therapeutic peptides, is creating long-acting compounds based on bioconjugation platform technologies. When applied to peptides, the Company's systemic PC-DAC(TM) Technologies enable the creation of new drugs with significantly enhanced therapeutic properties as compared to the original peptide.

The Company has two major development programs: PC-DAC(TM):Exendin-4, a GLP-1 agonist in Phase II for the treatment of Type II diabetes and PC-Insulin, a long-acting basal insulin in preclinical testing.

Detailed descriptions of the Company and its technologies can be viewed on the Company's website

Forward-Looking Statements

Some of the statements made herein may constitute forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause ConjuChem's actual results, performance or achievements to be materially different from those expressed or implied by any of the Company's statements. Actual events or results may differ materially. We disclaim any intention, and assume no obligation, to update these forward-looking statements.


For further information: For further information: Mark Perrin, President and CEO, ConjuChem Biotechnologies Inc., (514) 844-5558 ext 311,; James Smith, Investor Relations, (416) 815-0700 ext. 229,

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