News Releases

Protox Strengthens Patent Portfolio And Protection Of PRX302

Vancouver, British Columbia, October 18, 2007 – Protox Therapeutics Inc. (TSX-V:PRX), a leader in advancing novel, targeted protein toxin therapeutics for the treatment of cancer and other proliferative diseases, today announced that the U.S. Patent and Trademark Office has issued U.S. Patent 7,282,476 covering the composition of PRX302, the Company’s lead drug candidate from its PORxinTM technology platform, and its use for the treatment of prostate cancer. Additional claims were issued which protect other modified proaerolysin variants targeting prostate cancer. The patent was issued to the University of Victoria Innovation and Development Corporation and Johns Hopkins University and is licensed to Protox on an exclusive worldwide basis. "The issuance of Protox’s first U.S. patent provides key patent protection for PRX302 and is an important step in strengthening our PORxin intellectual property portfolio,” said Dr. Fahar Merchant, President and Chief Executive Officer of Protox. “We continue to file and prosecute additional patent applications in the U.S., Canada and globally to build and protect all of our valuable discoveries.”

About BPH
BPH is a common urological condition characterized by painful and bothersome symptoms that include difficulty in initiating a urine stream, a sense of urgency, leaking, dribbling and presence of blood in the urine. The condition affects over 50 million men throughout North America, Europe and Japan. More than half of all men will have symptoms of BPH by age 60 and as many as 90% may suffer from BPH after the age of 70. Left untreated, it can result in serious and possibly irreversible bladder damage. Current drug therapies only provide symptomatic relief and may trigger a range of side effects including impotence and hypotension. Surgical options such as TURP (transurethral resection of the prostate), which constitute the second-largest item in the US Medicare budget, can cause impotence, incontinence as well as other more serious procedure-related effects. According to Wood Mackenzie (2006), the market opportunity for therapies used to treat BPH was US $4.9 billion.

About PRX302
PRX302 is the lead drug in the company’s PORxinTM technology platform. PORxin drugs are pro-drugs that are activated by specific proteases produced at elevated levels on the surface of target cells. PRX302 has been generated by engineering the naturally occurring toxin proaerolysin to create a potent agent with a distinct mode of action. The drug has been engineered so that it is activated by prostate-specific antigen (PSA), an enzyme that is overproduced in patients suffering from prostate cancer and BPH (benign prostatic hyperplasia or enlarged prostate). Once activated, the drug punches holes in the cells causing the contents to leak out and ultimately cell death.

About Protox
Protox Therapeutics is a leader in advancing novel, targeted protein toxin therapeutics for the treatment of cancer and other proliferative diseases. Two novel drug candidates derived from the company’s INxin™ and PORxin™ 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. Phase 1 clinical trials evaluating PRX302 (PORxin) have been completed for the treatment of localized prostate cancer and benign prostatic hyperplasia (enlarged prostate).

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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 contact:

James Beesley
Director, Investor Relations
Protox Therapeutics
604-688-0199
jbeesley@protoxtherapeutics.com

Michael Moore
Investor Relations
The Equicom Group
416-815-0700 x 241
mmoore@equicomgroup.com