Protox appoints Dr. Jack Geltosky to its board of directors

    VANCOUVER, Sept. 30 /CNW/ - Protox Therapeutics Inc. (TSX:PRX), a leader
in the development of receptor targeted fusion proteins, announced today that
it has appointed Dr. Jack Geltosky to its Board of Directors. Dr. Geltosky is
the Senior Vice President of Business Development at the Arizona Technology
Enterprise where he is responsible for developing business strategies,
licensing and partnering in the life sciences sector. He has been in the
pharmaceutical industry for more than 27 years and has extensive experience
with numerous and diverse deal structures in the licensing and partnering
    "We are very pleased to welcome Dr. Geltosky to the Protox Board of
Directors," said Frank Holler, Chairman of the Board of Protox. "His extensive
experience in the pharmaceutical industry, including in-licensing,
out-licensing, partnering and general business development, make him a
valuable addition to our Board as we advance our clinical programs."
    Until recently, Dr. Geltosky was Vice President of External Science,
Technology and Licensing at Bristol Myers Squibb ("BMS") where he was
responsible for the acquisition and licensing as well as coordinating due
diligence efforts on potential in- and out-licensing candidates. While at BMS
he also supported collaborations with Merck, Astra Zeneca and Pfizer. Prior to
joining BMS, Dr. Geltosky was President and Chief Executive Officer of Message
Pharmaceuticals. Prior to Message Pharmaceuticals he was Vice President,
Scientific Licensing, World Wide Business Development at SmithKline Beecham
(now GlaxoSmithKline). For 10 years, he held roles of increasing
responsibility within Johnson & Johnson. Dr. Geltosky began his career as a
research scientist at E.I. DuPont.
    Dr. Geltosky holds a B.S. in chemistry from Memphis State University and
a Ph.D. in biochemistry from the California Institute of Technology. He is
currently on the Board of Directors at Enzon Pharmaceuticals (Nasdaq:   ENZN)

    About Protox

    Protox Therapeutics is a leader in advancing novel, receptor targeted
fusion proteins. Two novel drug candidates derived from the company's
INxin(TM) and PORxin(TM) 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 and EMEA. Phase
2a clinical trials evaluating PRX302 (PORxin) for the treatment of localized
prostate cancer and benign prostatic hyperplasia (enlarged prostate) are
ongoing. Protox is also collaborating with the U.S. National Institutes of
Health (NIH) on a research program focused on the discovery of next generation
fully human targeted therapeutics.

    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.

For further information:

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

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