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Protox completes US$5.1 million private placement

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Orion Fund JV Limited

On March 16, 2010, Protox Therapeutics Inc. (TSX: PRX) announced that it had closed its previously announced brokered private placement of units, resulting in gross proceeds to Protox of approximately $5.1 million. Each unit is comprised of one common share of Protox and one-half of a common share purchase warrant. Dundee Capital Markets and Canaccord Financial Inc. acted as co-lead placement agents along with Versant Partners as co-agent. Protox is a leader in the development of receptor targeted fusion proteins for the treatment of prostate disease and other forms of cancer. Protox will use the net proceeds of the offering principally to finance its drug development activities and for general corporate purposes. Fasken Martineau advised Protox in this transaction with a team that included Iain Mant and Steve Saville, who were assisted by paralegal Sarah Knappe.



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