Newly Created Hemosol BioPharma Inc. on the Hunt for Partnership, Licensing and Acquisition Targets

    TORONTO, Aug. 9 /CNW/ - Hemosol BioPharma Inc. (Hemosol) announced today
that it is actively seeking partnerships, licensing arrangements and
acquisitions of products or companies to supplement its own development
programs and commercialization plans. Products of interest include therapeutic
proteins derived from blood plasma or other sources, including bioprocess
streams, as well as other sterile injectable biopharmaceuticals.
    Hemosol BioPharma Inc. was formed July 6, 2007 following the acquisition
of substantially all the assets of Hemosol Corp., a well-known Canadian
biopharmaceutical company, by Catalyst Fund Limited Partnership II, a billion
dollar private equity fund based in Toronto and managed by The Catalyst
Capital Group Inc. Hemosol's unique assets include a commercial scale cGMP
manufacturing facility located in Mississauga and a substantial portfolio of
intellectual property supporting a pipeline of new products. Key staff have
been retained to execute on the business plan and operations. Hemosol intends
to continue the development of therapeutic plasma proteins, as well as its own
product pipeline. The company plans to build upon current business
relationships and development activities through the licensing and acquisition
of complementary products with near-term revenue potential.
    "Through this strategic partnership, licensing and acquisition program,
we will create a revenue generating company that will be a significant player
in North American biotechnology," stated Dr. David Bell, V.P. of Drug

    Dr. Dirk Alkema, V.P. of Operations, notes that, "Hemosol is in a
    position to leverage its cGMP facility and know how in the manufacture
    and testing of biopharmaceutical products to offer services to
    prospective clients, to generate revenue and accelerate the company's

    Newton Glassman, Managing Partner of Catalyst remarked: "The Catalyst
    Capital Group Inc. is extremely pleased to add Hemosol BioPharma Inc. to
    our portfolio of companies. We are confident that with the solid
    financial backing and strategic support provided by Catalyst, Hemosol is
    in a good position to make strategic acquisitions and partnerships and to
    continue to develop its plasma business and diverse pipeline of
    products." About Hemosol BioPharma Inc.

    About Hemosol BioPharma Inc.

    Hemosol BioPharma Inc. is an integrated biopharmaceutical developer and
manufacturer of biologics, particularly blood-related protein based
therapeutics. The company is pursuing a strategy to manufacture and market
therapeutic products in North America under its own label or in partnership
with others. Hemosol possesses a strong understanding of the market and
business opportunities for therapeutic proteins and experience in the
development and manufacture of biological products. Hemosol's extensive
pipeline of products address unmet medical needs in major medical markets.
Such products include protein-based therapeutics to treat infectious disease,
cancer and anemia.

    About The Catalyst Capital Group Inc.

    The Catalyst Capital Group Inc. is an investment management company that
manages over $1 Billion on behalf of two private equity funds.

    Statements in this release that are not strictly historical are
forward-looking statements and include statements about business, strategic
and development plans and objectives. These forward-looking statements involve
expectations, beliefs, projections, anticipations or other characterizations
of future events or circumstances. These forward-looking statements are not
guarantees of future performance and are subject to risks and uncertainties
that may cause actual results to differ materially from those in the
forward-looking statements.

For further information:

For further information: Hemosol BioPharma Inc., 2585 Meadowpine Blvd.,
Mississauga, ON, CANADA, L5N 8H9, (905) 286-6200, (905) 286-6300 fax,; Dirk Alkema, Ph.D. Vice President, Operations, Hemosol
BioPharma Inc., (905) 286-6209, dalkema@,; David Bell, Ph.D., Vice
President, Drug Development, Hemosol BioPharma Inc., (905) 286-6207,

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