MONTREAL, QUEBEC--(Marketwire - December 03, 2007) - Mistral Pharma Inc. (TSX VENTURE: MIP) (“Mistral”) today announced positive results from a first pilot pharmacokinetic (PK) study on a new controlled-release product, MIST-B04. The results of this pilot study clearly show that MIST-B04 presents a pharmacokinetic profile leading to a once daily dosing schedule compared to the three times daily immediate-release formulation presently on the market. MIST-B04 is formulated using a new drug delivery platform named TRIZERO™, which was developed internally by Mistral’s scientists and for which a patent application was filed in June 2007.