OBI Osta Biotechnologies Inc.

The issue of this press release is limited to Canada only.  This press release
should not be issued in the United States through U.S. news wire agencies.


Osta Biotechnologies Inc. (TSX VENTURE:OBI) today announced the results of a
pre-clinical efficacy study on its lead anti-cancer therapeutic agent OB-24 in a
highly tumorigenic and metastatic human prostate cancer PC-3M xenograft mouse
model.  Data from this pre-clinical study showed statistically significant
reduction in the tumor volumes in mice treated with OB-24 compared to untreated
mice and the activity of OB-24 was found to be comparable to taxol, a drug
widely used for the treatment of this type of cancer.  OB-24 was found to be
well tolerated in mice at different dose levels with multiple administrations
and greatly potentiated taxol's anti-tumor activity while significantly reducing
its toxic effects.  Data from this study confirmed the findings of a previous
study that was made public on October 15, 2007, which showed a statistically
significant reduction in prostate tumor volumes in mice treated with OB-24
compared to untreated mice, showed a comparable reduction in tumor volumes in
mice treated with taxol and OB-24 showed a significant synergistic effect with
taxol. These results hold promise that OB-24, either alone or in combination
with other chemotherapeutic agents such as taxol, could become a treatment of
choice for metastatic and chemotherapy-resistant prostate cancer in humans.


These findings represent an important milestone in Osta's plan to develop novel
chemotherapeutic agents for the treatment of aggressive, metastatic and drug
resistant tumors and provide an important advancement towards generating
sufficient pre-clinical data in order for the company to advance towards IND
filing anticipated in 2009.


Results of the Pre-Clinical Study

The pre-clinical study was conducted in collaboration with Dr. M. Alaoui-Jamali,
a Professor of Oncology & Senior Scientist at McGill University and the Leader
of Drug Discovery Group at the Segal Cancer Centre of the Jewish General
Hospital.  In a pre-clinical study involving a total of 40 Scid male mice
implanted with human metastatic prostate cancer PC-3M cells, the tumor volumes
were found to be statistically significantly smaller in mice treated with OB-24
at 30 mg/kg daily for 24 days (49% inhibition) and 60 mg/kg (4 cycles, d1, 3, 5
per cycle; 45% inhibition) dose levels compared with those untreated. The
inhibition in tumor growth in mice treated with OB-24 at both dose levels was
similar to those treated with taxol (10 mg/kg, 4 cycles, d1, 3, 5 per cycle; 49%
inhibition).  Remarkably, OB-24 at 60 mg/kg in combination with taxol at 10
mg/kg when administered for 4 cycles, 3 days per cycle, led to a 78% inhibition
in tumor growth and a significant increase in the body weights of mice compared
to the mice treated with taxol alone. These results clearly indicate that OB-24
not only makes taxol significantly more effective but also significantly
improves its safety profile.


Dr. Ajay Gupta, Chairman & CEO of Osta commented "We are quite excited with
these results and are continuing to further scale up our pre-clinical study in
aggressive and metastatic prostate cancer models.  The successful development of
OB-24 either alone or in combination with drugs such as taxol for the treatment
of drug resistant and metastatic prostate cancer would represent a major
breakthrough in the treatment of this devastating disease."


Osta Biotechnologies Inc.

Osta is a biopharmaceutical company listed on the TSX Venture Exchange (TSX
VENTURE:OBI) dedicated to developing novel diagnostics and therapeutics for the
aging population particularly in the areas of Cancer, Alzheimer's disease,
Osteoporosis, Osteoarthritis and XLH.


Certain information in this press release is forward-looking and is subject to
numerous risks and uncertainties.  By their nature, such forward-looking
statements involve risks and uncertainties that could cause actual results to
differ materially from those contemplated by the forward-looking statements. 
These risks include actions of Osta's competitors, and those inherent in
scientific research and development.

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