VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- October 27, 2006 -- Forbes Medi-Tech Inc. (TSX: FMI)(NASDAQ: FMTI) today announced that it has closed its acquisition of TheraPei Pharmaceuticals, Inc. originally announced October 25, 2006, and that Dr. John Nestor has now taken up his new position as Forbes’ Chief Scientific Officer. Forbes issued a total of 94,672 common shares and paid cash of approximately US $400,000 on closing. Forbes also changed the name of TheraPei to “Forbes Medi-Tech (Research) Inc.”.
