MONTREAL, QUEBEC -- (MARKET WIRE) -- February 23, 2007 -- Mistral Pharma Inc. (TSX VENTURE: MIP) (the “Corporation”, “Mistral”) announces today its financial results and review of operating highlights for the quarter ended December 31, 2006. “During the quarter, we closed a working capital loan of US $ 1.5 M from MMV Financing and actively pursued our product development activities as well as our discussions with strategic partners” said Mr. Bertrand Bolduc, the Corporation’s President & CEO.