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Caprion Pharmaceuticals Withdraws Initial Public Offering



7/28/2006 1:13:09 PM

MONTREAL--(BUSINESS WIRE)--July 27, 2006--Caprion Pharmaceuticals Inc. announced today that it has withdrawn its initial public offering due to adverse market conditions. About Caprion Pharmaceuticals Inc.

Caprion Pharmaceuticals Inc. is a clinical-stage biotechnology company developing pharmaceutical products in the areas of infectious disease and oncology. CellCarta®, Caprion's proprietary proteomics technology, provides Caprion with an effective means to identify novel drug targets, predict which therapeutics may be safer and more efficacious and, in certain cases, identify which patients may benefit most from a particular therapy.

This press release may contain forward-looking statements about the objectives, strategies, financial conditions, results of operations and businesses of Caprion. These statements are forward-looking as they are based on our current expectations, as of the date of this press release, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statement will materialize. Risks that could cause our results to differ materially from our current expectations include, among others, the uncertainties related to clinical trials and product development, the market acceptance and commercialization, the government regulations and the Fast Track designation. We disclaim any intention or obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

Contact: Caprion Pharmaceuticals Inc. Lloyd Segal, 514-940-3600 lsegal@caprion.com or Investor Relations: Equicom Group Michael Moore, 416-815-0700 x241 mmoore@equicomgroup.com

Source: Caprion Pharmaceuticals Inc.


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