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Protox Therapeutics Grants Stock Options
Friday, April 7, 2006 - Vancouver, British Columbia - Protox Therapeutics Inc. (TSX-V: PRX)
announced today that they have granted 705,000 options pursuant to its previously approved
stock option plan. The options were granted to various employees at an exercise price of
$0.52. The vesting period ranges from 30 months to 3 years.
About Protox Therapeutics:
Protox Therapeutics is a product-focused development-stage company and a leader in
advancing novel, targeted protein toxin therapeutics for treatment of cancer and
other diseases. Through the company’s PORxin™ technology platform,
therapeutic candidates are generated by engineering the naturally occurring protein,
pro-aerolysin. These proteins become potent anti-cancer agents when activated at a
tumor site by specific proteases produced by cancer cells. Once activated, the drug
punches holes in the cancer cells causing the contents to leak out and ultimately,
cell death. Protox has received clearance from the FDA to commence Phase 1 clinical
trials with the lead compound, PRX302, for the treatment of localized prostate cancer.
PRX302 is also being developed for treatment of benign prostatic hyperplasia.
For more information, contact:
Elayne Wandler
Director, Investor Relations and Corporate Communications, Protox Therapeutics Inc.
Direct: 604-688-4369
Cell: 778-865-0172
Fax: 604-688-0173
ewandler@protoxtherapeutics.com
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