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Protox To Graduate To Toronto Stock Exchange

Vancouver, British Columbia, January 30, 2008 – 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 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