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Biomira announces plan to change name to Oncothyreon
Date:9/27/2007

pplication of key assumptions relating to future events and circumstances.

Forward-looking statements involve risks and uncertainties, including risks and uncertainties related to the proposed reincorporation transaction, Biomira's business, the regulatory approval process and the general economic environment. Many of these risks and uncertainties are beyond Biomira's control. These risks, uncertainties and other factors could cause our actual results to differ materially from those projected in forward-looking statements. Risks, uncertainties, and assumptions include those predicting the completion of the proposed arrangement and reincorporation; the clinical development of Stimuvax, PX-12, PX-478 and PX-866; the therapeutic and commercial potential of Stimuvax, PX-12, PX-478 and PX-866; the filing of an Investigational New Drug application for PX-866 and the timing thereof; future clinical development plans; and the other risks and uncertainties described in the reports and other documents, including the registration statement on Form S-4, filed by either Biomira Inc. or Oncothyreon Inc. with the SEC and/or Canadian regulatory authorities.

Although Biomira believes that any forward-looking statements contained herein are reasonable, it can give no assurance that its expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a detailed description of the risks and uncertainties associated with Biomira and Oncothyreon, you are encouraged to review the official corporate documents filed with the securities regulators in Canada and the United States, including the risk factors described in the amended registration statement on Form S-4 filed by Oncothyreon Inc. with the SEC and on SEDAR.

Additional Information About the Arrangement/Reincorporation and Where to

Find It

On September 27, 2007, Oncothyreon Inc., a Delaware corporation that will, if the arrangement is ap
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SOURCE Biomira Inc.
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