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Protox Appoints Dr. Jack Geltosky to its Board of Directors

Vancouver, British Columbia, September 30, 2008 – Protox Therapeutics Inc. (TSX:PRX), a leader in the development of receptor targeted fusion proteins, announced today that it  has appointed Dr. Jack  Geltosky to its Board of Directors. Dr. Geltosky is the Senior Vice President of Business Development at the Arizona Technology Enterprise where he is responsible for developing business strategies, licensing and partnering in the life sciences sector. He has been in the pharmaceutical industry for more than 27 years and has extensive experience with numerous and diverse deal structures in the licensing and partnering arena.

“We are very pleased to welcome Dr. Geltosky to the Protox Board of Directors,” said Frank Holler, Chairman of the Board of Protox. “His extensive experience in the pharmaceutical industry, including in-licensing, out-licensing, partnering and general business development, make him a valuable addition to our Board as we advance our clinical programs.”  

Until recently, Dr. Geltosky was Vice President of External Science, Technology and Licensing at Bristol Myers Squibb (“BMS”) where he was responsible for the acquisition and licensing as well as coordinating due diligence efforts on potential in- and out-licensing candidates. While at BMS he also supported collaborations with Merck, Astra Zeneca and Pfizer.  Prior to joining BMS, Dr. Geltosky was President and Chief Executive Officer of Message Pharmaceuticals. Prior to Message Pharmaceuticals he was Vice President, Scientific Licensing, World Wide Business Development at SmithKline Beecham (now GlaxoSmithKline). For 10 years, he held roles of increasing responsibility within Johnson & Johnson. Dr. Geltosky began his career as a research scientist at E.I. DuPont.

Dr. Geltosky holds a B.S. in chemistry from Memphis State University and a Ph.D. in biochemistry from the California Institute of Technology. He is currently on the Board of Directors at Enzon Pharmaceuticals (Nasdaq: ENZN)

About Protox
Protox Therapeutics is a leader in advancing novel, receptor targeted fusion proteins. 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 and EMEA. Phase 2a clinical trials evaluating PRX302 (PORxin) for the treatment of localized prostate cancer and benign prostatic hyperplasia (enlarged prostate) are ongoing. Protox is also collaborating with the U.S. National Institutes of Health (NIH) on a research program focused on the discovery of next generation fully human targeted therapeutics.

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