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Protox Appoints Vice President, Business Development & Strategy

Vancouver, British Columbia, January 7, 2008 – Protox Therapeutics Inc. (TSX-V:PRX), a leader in advancing novel, targeted protein toxin therapeutics for the treatment of cancer and other proliferative diseases, announced today that it has appointed Mr. Tom D’Orazio as Vice President, Business Development and Strategy.

Mr. D’Orazio is a pharmaceutical executive who brings nineteen years of industry experience to Protox. His past responsibilities include management of commercial partnerships, strategic marketing, pipeline valuation and strategic planning. Most recently he was employed as Vice President of Strategic Marketing at Sonus Pharmaceuticals where he managed the commercial relationship with the oncology unit of Bayer Schering AG. He also was in charge of the commercial planning for Sonus’ entire pipeline of clinical-stage and pre-clinical oncology products. Prior to his employment with Sonus, Mr. D’Orazio spent five years with QLT managing their global marketing relationship with Novartis, and as the commercial lead on their oncology and ocular in-licensing teams. Mr. D’Orazio came to QLT after spending six years at Pharmacia’s (now Pfizer) global headquarters where he was instrumental in planning the launch of a new business unit that had responsibility for a portfolio of products for pituitary tumors and related neuroendocrine diseases. Mr. D’Orazio’s first experience in oncology dates back seventeen years to when he was employed by Immunex (now Amgen). He holds a bachelors degree in Chemistry from Loyola University of Chicago and an M.B.A. from Vanderbilt University.

“This strategic appointment is a key and timely addition to our team as we enter into multiple later stage clinical programs,” said Dr. Fahar Merchant, President & CEO of the Company. "Tom brings a wealth of business development experience to Protox and will be ideally suited to explore and build upon a number of key commercial relationships.”

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