Protox to graduate to Toronto Stock Exchange

    VANCOUVER, Jan. 30 /CNW/ - Protox Therapeutics Inc. (TSX-V: PRX), a
leader in advancing novel, targeted therapeutic proteins, is pleased to
announce that it has received conditional approval for the listing of its
common shares on the Toronto Stock Exchange ("TSX"). The TSX listing is
subject to the Company providing final listing documents. Trading is
anticipated to commence on February 4, 2008 under the symbol "PRX".
    "This is a significant milestone for Protox as we move into the next
phase of growth for the Company," said Dr. Fahar Merchant, President and Chief
Executive Officer of Protox. "In a year in which we anticipate advancing
multiple Phase 2 clinical trials, we believe that graduation to a TSX listing
will help us to raise our profile, provide greater liquidity in our stock and
expose the Company to a wider investment audience."
    The common shares of the Company are currently listed on the TSX Venture
Exchange under the symbol "PRX" and will be delisted from the TSX Venture
Exchange concurrently with the listing on the TSX.

    About Protox

    Protox Therapeutics is a leader in advancing novel, targeted protein
therapeutics for the treatment of cancer and other proliferative diseases. 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. A Phase 2a clinical trial evaluating PRX302
(PORxin) for the treatment of localized prostate cancer has been initiated and
plans to commence a Phase 2 clinical trial for the treatment of benign
prostatic hyperplasia (enlarged prostate) are currently underway.


    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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