Thallion Pharmaceuticals Inc. Provides Update on Shigamabs(R) Clinical Development and U.S. Regulatory Plan

MONTREAL, QUEBEC--(Marketwire - October 29, 2007) - Thallion Pharmaceuticals Inc. (TSX: TLN) today announced that the Company has not yet been able to reach a mutual agreement with the United States Food and Drug Administration (FDA) on the appropriate clinical trial design and strategy for Shigamabs®, a dual antibody product for the treatment of Shigatoxin-producing E. coli (STEC) bacterial infections. The Company intends to submit the appropriate regulatory documents in Europe, South America and Canada and expects to initiate a Phase II/III trial in these jurisdictions in the first half of 2008.

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