[news 2003-2004]

GB Therapeutics receives FDA approval to begin clinical trials of Alzheimer's candidate

For immediate release

Jan. 7, 2004
MISSISSAUGA, ON -- GB Therapeutics Ltd., a spinoff company of Queen's University's PARTEQ Innovations, has received approval from the U.S. Food and Drug Administration to begin human safety testing of GT 1061, its lead drug candidate targeting mild to moderate Alzheimer's disease.

GB Therapeutics received Canadian regulatory approval to begin Phase 1a testing in December, allowing the company to pursue a dual Canada/U.S. clinical strategy, says Anthony Giovinazzo, President and CEO.

GT 1061, the first drug candidate from a new class of molecules discovered and developed by Queen's University researchers, has shown promise in improving cognitive function in preliminary studies. It is the company's first drug candidate to advance to testing in humans. Canadian clinical trials of GT 1061 begin Jan. 14.

Information:
Anthony Giovinazzo
President & CEO
GB Therapeutics Ltd.
P: 905-607-4903 ext 222
E: agiovinazzo@gbtherapeutics.com

www.gbtherapeutics.com

John Molloy
President & CEO
PARTEQ Innovations
P: 613.533.2342
E: jmolloy@parteqinnovations.com