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Biomira Inc. receives Nasdaq delisting notification
Date:11/5/2007

s goal is to develop and commercialize novel synthetic vaccines and targeted small molecules that have the potential to improve the lives and outcomes of cancer patients.

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws in the United States and Canada. Forward-looking statements involve risks and uncertainties, including risks and uncertainties related to compliance by either Biomira or Oncothyreon with applicable Nasdaq listing requirements; the impact of the proposed effective reverse stock split on compliance with Nasdaq listing requirements; benefits currently anticipated to be derived from the proposed reincorporation transaction; and Biomira's business, including, without limitation, statements related to our agreements with Merck KGaA, the therapeutic and commercial potential of Stimuvax and other drug candidates in our clinical development pipeline, benefits anticipated from the acquisition of ProlX, future clinical development plans, the details of our planned clinical trials, the regulatory approval process and the general economic environment. A number of factors could cause actual results or events to differ materially from those anticipated by forward-looking statements. In particular, neither Biomira nor Oncothyreon can predict whether the conditions to completion of the reincorporation, including shareholder and judicial approvals, will be obtained. In addition, even if the reincorporation and the associated effective reverse stock split are approved and implemented, neither Biomira nor Oncothyreon can provide any assurances that they will continue to satisfy Nasdaq listing requirements. The business of Biomira and, assuming completion of the arrangement, the business of Oncothyreon are subject to numerous risks and uncertainties associated with biopharmaceutical development companies, including risks relating to the results of clin
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