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Protox Expands Research Capacity
Tue, Sept 21, 2004 - Vancouver, BC - Protox Therapeutics Inc. today announced that it has substantially expanded its research capacity by establishing its own state-of-the-art laboratory in the new Discovery Parks building adjacent to the campus of University of Victoria. This additional research capacity will allow Protox to advance the development of the Company's engineered protein technology to create novel therapeutics for the treatment of cancer.

The Company's first product in development, for the treatment of localized prostate cancer, PSA-PA1 is currently in preclinical studies. Protox anticipates making an Investigational New Drug (IND) application for PSA-PA1 with the FDA by mid 2005 and initiating human trials upon approval.

"Until now, Protox has successfully relied on research and development that the Company funds at both the University of Victoria (UVIC) and the Johns Hopkins University (JHU) School of Medicine in Baltimore", stated Dr. Tom Buckley, Chief Scientific Officer of the Company. "With this expansion into our own facility, we are effectively doubling our research capacity and thus will have enhanced ability to develop our technology and explore new research in other cancers such as lung and breast cancers and Non-Hodgkin¹s Lymphoma."

Tazdin Esmail, President and CEO of Protox added, "We have been very pleased with the working relationships we¹ve developed with UVIC and JHU. Establishing our own research facility will allow us to maintain and strengthen those relationships, while at the same time opening doors to new product opportunities."

ABOUT PROTOX: Protox Therapeutics Inc. has developed, and has optioned from third parties, technologies intended to transform the naturally occurring bacterial toxin, Aerolysin, into novel cancer therapeutics. Once engineered using Protox' proprietary technology, Aerolysin has demonstrated the ability to target and kill cancer cells by forming holes in their membranes while leaving healthy "bystander" cells intact. The Company anticipates that this approach will produce therapeutics that may have greater efficacy and lower side effects than current methods of treating cancer.

For more information, contact:
Terry Vanderkruyk
Director, Investor Relations, Protox Therapeutics Inc.
Tel: 604-688-4376
Cell: 604-789-0844
Fax: 604-688-0173
tvanderkruyk@protoxtherapeutics.com