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 study on its novel compound, OB-28 in an Alzheimer's disease animal
model. Data from this study showed statistically significant amelioration of
behavioral deficits in a transgenic mouse model of Alzheimer's disease treated
with OB-28. Funding for this study was provided by an affiliate of the
Alzheimer's Drug Discovery Foundation (ADDF). 


These findings represent an important milestone in Osta's plan to develop novel
drugs for the treatment of Alzheimer's disease and provide an important
advancement towards generating sufficient pre-clinical data in order for the
company to advance towards IND filing. 


Results of the Pre-Clinical Study

The pre-clinical study was conducted in collaboration with Dr. Donald Ingram,
Professor, Nutritional Neuroscience and Aging Laboratory and Director, Animal
Metabolism and Behavior Core, Pennington Biomedical Research Center, a research
campus of the Lousiana State University. In this study, a total of 103 wild type
(wt) and double transgenic 3 month old mice (APPswe/PS1dE9; dTg) were treated
with either saline, memantine (10 mg/kg/day) or OB-28 at doses of 15 mg/kg/day
and 30 mg/kg/day via daily intra-peritoneal injections over a period of 4 months
and the behavioral deficits in the wt and dTg mice were assayed using the Stone
T-maze (STM) test as well as contextual and tone fear conditioning tests. The
STM test measures learning to navigate through a series of 14 choice-points
enroute from a start box to a goal box to escape from water. In this learning
test, OB-28 was found to have a statistically significant and positive impact on
amelioration of behavioral deficits in the dTg mice in terms of a significant
reduction in mean acquisition errors in 5 trial blocks compared to those treated
with saline control (p = 0.017 for OB-28 15 mg/kg; p = 0.052 for OB-28 30
mg/kg). Memantine was also found to have a positive and statically significant
impact on amelioration of behavioral deficits in dTg mice compared to those
treated with saline control (p = 0.003). Trends for a positive impact of OB-28
at both dose levels in dTg mice were also observed in the fear conditioning
tests compared to those treated with saline control but these effects did not
reach statistical significance In addition, the three treatments appeared to
have no significant impact on performance in any of the wt animals.


Dr. Ajay Gupta, Chairman & CEO of Osta commented, "We are quite excited with
these results. They support our hypothesis that suppression of glial HO-1
hyperactivity could be a novel approach for neurotherapeutic intervention in
Alzheimer's disease. The successful development of OB-28 for the treatment of
Alzheimer's disease would represent a major breakthrough in the treatment of
this devastating disease."


Dr. Howard Fillit, Executive Director of the ADDF commented, "The pre-clinical
study data of OB-28 is an encouraging milestone and provides support for further
development of this novel compound. We look forward to Osta's continued success
as they advance OB-28 to the clinic." 


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 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.


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.

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