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Protox Therapeutics completes US$9 million private placement

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Protox Therapeutics Inc.

On November 29, 2006, Protox Therapeutics Inc. announced that it had successfully completed its previously announced unit offering with the issue of 18,349,500 units at a price of $0.50 per unit for total gross proceeds of $9,174,750. The private placement was led by Jennings Capital Inc. and Canaccord Capital Corporation. Protox is a leader in advancing novel, targeted protein toxin therapeutics for treatment of cancer and other proliferative diseases. Net proceeds from the placement will be used to support the Company's clinical programs and for general corporate purposes. Fasken Martineau advised Protox in this transaction with a team comprised of Iain Mant and Karima Penman.


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