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Med BioGene Files Registration Statement for Proposed $24.25M U.S. IPO



12/30/2009 7:09:04 AM

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - 12/29/09) - Med BioGene Inc. today announced that it filed on December 28, 2009 a registration statement on Form F-1 with the United States Securities and Exchange Commission in connection with MBI's proposed initial public offering of common shares in the United States. MBI also filed with the British Columbia Securities Commission a Canadian non-offering preliminary short form prospectus and an application to list its common shares on The NASDAQ Capital Market. The common shares in the offering will be offered by MBI. The number of shares to be offered and the price range for the offering have not yet been determined.

Rodman & Renshaw, LLC is acting as the sole manager.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. A copy of the registration statement can be accessed through the Securities and Exchange Commission's website at www.sec.gov and a copy of the Canadian preliminary short form prospectus is available from the System for Electronic Document Analysis and Retrieval at www.sedar.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering shall be made only by means of a prospectus. Once available, a preliminary prospectus relating to these securities may be obtained from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, 20th Floor, New York, NY, 10020 or by calling (212) 356-0500.

About Med BioGene

MBI is a life science company focused on the development and commercialization of genomic-based personalized clinical laboratory diagnostic tests. MBI is committed to advancing personalized medicine by commercializing tests that provide clinically relevant information to improve patient treatment and reduce health care costs.

Certain statements in this press release contain forward-looking information and statements ("forward-looking statements") under applicable Canadian and United States securities legislation. Words such as "anticipates", "believes", "estimates", "expects", "intends", "may", "plans", "projects", "will", "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward looking statements include, but are not limited to, those with respect to: the offering; and the listing of common shares on The NASDAQ Capital Market. These forward-looking statements are only a prediction based upon MBI's current expectations, and actual events or results may differ materially. MBI may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties and are based upon uncertain assumptions that could cause MBI's actual results and the timing of events to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include, but are not limited to: market conditions for capital raising; the closing of the offering; and satisfaction of the applicable NASDAQ Capital Market listing requirements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. MBI's forward-looking statements do not reflect the potential impact of any future partnerships, collaborations, acquisitions, mergers, dispositions, joint ventures or investments that MBI may make. All forward-looking statements are qualified in their entirety by this cautionary statement and MBI undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date of this press release, other than as required by applicable law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Med BioGene Inc. Erinn B. Broshko Chief Executive Officer (604) 306-4969 ebroshko@medbiogene.com www.medbiogene.com Peterson Capital Investor Relations (604) 684-2883 rick@rickpeterson.ca www.petersoncapital.ca




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