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) announced today that Dr. Aldo
Baumgartner and Mr. Paul L'Archeveque have resigned from its board of directors.
Both Dr. Baumgartner and Mr. L'Archeveque had joined the board in 2005. During
his tenure at Osta, Dr. Baumgartner served on various committees and acted as
the Chairman of the audit committee. He had previously served as President & CEO
of Roche Canada and Wyeth Ayerst Canada. During his tenure at Osta, Mr.
L'Archeveque served on various committees. He had previously served as President
& CEO of Genome Quebec.


"Dr. Baumgartner and Mr. L'Archeveque have been valued members of Osta's board
of directors," said Dr. Ajay Gupta, Chairman and CEO of Osta. "We are grateful
for their professional advice and we wish both Dr. Baumgartner and Mr.
L'Archeveque the very best in the future." 


Osta is also pleased to announce the appointment of Dr. Michael Munzar to its
board of directors. The appointment of Dr. Munzar to Osta's board of directors
remains subject to TSX approval. Dr. Munzar is a clinician and is currently
serving as Medical Director of Statcare medical clinic in Pointe Claire, Quebec.
Dr. Munzar has extensive experience in the regulatory development of drugs and
medical devices, especially in-vitro diagnostic devices. He obtained his MDCM
from McGill University in 1979. He served as Medical Director of Nymox
Pharmaceutical Corporation (NASDAQ:NYMX) from 1996-2004 and as the President of
Serex Inc., a wholly owned subsidiary of Nymox from 2000-2004. 


"It is a great pleasure and honor for us to have a highly experienced clinician
scientist like Dr. Munzar joining our board of directors. His addition to our
team is very timely and synergistic to our new and exciting research and
development programs and is invaluable as he brings vast knowledge in clinical
trials as well as solid expertise in regulatory affairs" says Dr. Ajay Gupta,
Osta's Chairman & CEO.


Osta will not be filling the remaining vacancy right away while it searches for
a suitable replacement.


Osta Biotechnologies Inc.

Osta is a biopharmaceutical company listed on the TSX Venture Exchange (TSX
VENTURE:OBI) currently focusing on developing therapeutics for Cancer and
Alzheimer's disease.


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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