MONTREAL, QUEBEC--(Marketwire - December 17, 2007) - Osta Biotechnologies Inc. (TSX VENTURE: OBI) announces that it has held a closing of a private placement by issuing 680,322 units at a price of $0.30 per unit, for gross proceeds to Osta of $204,100. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles its holder to acquire one additional common share for a period of two years from the closing date of the placement, at a price of $0.50. The proceeds from the private placement will be applied by Osta toward the furtherance of its research and development activities, as well as working capital and general corporate purposes.
