Nymox Reports Update on Prostate Drug Licensing Negotiations

    HASBROUCK HEIGHTS, N.J., January 31 /CNW/ - Nymox Pharmaceutical
Corporation (NASDAQ:   NYMX) announced today that the Company's NX-1207 drug for
the treatment of benign prostatic hyperplasia (BPH) has attracted serious
expressions of interest from a number of major pharmaceutical companies
wishing to license the drug for sale in global markets.

    "Based on the term sheets we have received, we are optimistic about a
favorable deal for our NX-1207 product," said Paul Averback, CEO of Nymox.
"The data and clinical profile of NX-1207 continue to be compelling. Nymox has
received serious expressions of interest about NX-1207 from a number of major
pharmaceutical companies from around the world and the Company is carefully
weighing its options in order to find the right partners on the right terms."

    Nymox recently announced the successful completion of a
placebo-controlled, double-blind, multi-center Phase 2 trial of NX-1207. The
Company's recently completed Phase 2 trial showed positive efficacy and safety
results for NX-1207. Overall, patients treated with NX-1207 showed mean
improvement of 9.35 points in AUA Symptom Score values, the standard scale
used to evaluate BPH drugs and treatments. This improvement compares favorably
to the 3.5 to 5 point reported in published studies of currently approved
drugs for BPH and reached statistical significance when compared to placebo.
Subjects treated with NX-1207 also showed an overall significant reduction in
mean prostate volume. The results of the trial demonstrated the excellent
safety and side effect profile of NX-1207. Subjects treated with NX-1207 had
no serious side effects. In particular, patients given NX-1207 had no (0%)
significant sexual side effects.

    BPH afflicts approximately half of men over age 50 and close to 90% of
men by age 80. The disorder causes difficulties with urination associated with
aging, such as urination at night, urge to void frequently, hesitancy, weak
stream, and other problems.

    More information about Nymox is available at www.nymox.com, email:
info@nymox.com, or 800-936-9669.

    This press release contains certain "forward-looking statements" as
defined in the United States Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and the actual results and
future events could differ materially from management's current expectations.
The conduct of clinical trials and the development of drug products involve
substantial risks and uncertainties and actual results may differ materially
from expectations. Promising early results do not ensure that later stage or
larger scale clinical trials will be successful or will proceed as expected.
Such factors are detailed from time to time in Nymox's filings with the United
States Securities and Exchange Commission and other regulatory authorities.

For further information:

For further information: Nymox Pharmaceutical Corporation Roy Wolvin,
1-800-93NYMOX www.nymox.com

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