Mistral Pharma Inc. Signs an In-Licensing Deal With CliniMed (UK)

MONTREAL, QUEBEC--(Marketwire - October 30, 2007) - Mistral Pharma Inc. (TSX VENTURE: MIP) ("Mistral") today announced that it has signed a licensing agreement with CliniMed, for the marketing and distribution of INSTILLAQUILL® for the Canadian market. Mistral intends to file a medical device submission for INSTILLAQUILL® with Health Canada in the first half of 2008. INSTILLAQUILL® is a single use extension tube for use with Farco Pharma's lubricants in sterile pre-filled syringes. INSTILLAQUILL® is used to assist with Gynecological investigations and procedures.

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