MONTREAL, QUEBEC -- (MARKET WIRE) -- May 18, 2007 -- Ambrilia Biopharma Inc. (TSX: AMB), a biopharmaceutical company developing novel small molecules and peptides to treat infectious diseases and cancer, completed today $5.5 million out of $ 5.8 million of the private placement announced on April 18, 2007 (the "Private Placement"), whereby the Company issued 2,293,387 from a total of 2,417,353 of its common shares to certain investors, almost all of which being current shareholders of Ambrilia, at a price of $2.42 per share. Ambrilia expects to receive the remaining amount of approximately $300,000 on Tuesday, May 22, 2007.
