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Upstream Biosciences Acquires Innovative Platform Technology and Drug Candidates for Tropical Parasitic Diseases
Date:8/27/2007

-Acquisition of Pacific Pharma Technologies Brings Proprietary Artificial Intelligence-Based Drug Discovery Platform and Novel Drug Candidates to

Upstream-

-Initial Compounds Demonstrate Promising In Vitro Activity Against Devastating Parasitic Diseases Affecting 300 Million People Worldwide-

VANCOUVER, B.C., Aug. 27 /PRNewswire-FirstCall/ -- Upstream Biosciences Inc. (OTC Bulletin Board: UPBS) today announced it has completed the acquisition of Pacific Pharma Technologies Inc., an early stage biopharmaceutical company with a proprietary technology platform that combines artificial intelligence, advanced computational methods and chemical diversity techniques to discover new drugs. This technology has already generated novel compounds that in laboratory studies demonstrate both human and veterinary potential against major tropical parasitic diseases.

"This acquisition significantly broadens our strategic focus and provides Upstream with important new capabilities," said Joel L. Bellenson, Chief Executive Officer of Upstream. "We believe the innovative technology platform pioneered by Pacific Pharma may have substantial commercial potential in a number of therapeutic areas and it fits well with our existing core competencies in computational-based approaches to biomarker identification. Pacific Pharma has also generated novel compounds that have exhibited activity against targets relevant to cancer, the focus of our biomarker programs."

In screening studies in vitro, Pacific Pharma's lead compounds have demonstrated encouraging signs of efficacy against leishmaniasis and African sleeping sickness (trypanosomiasis). These parasites, which belong to a family of protozoa species that include Chagas disease and malaria, infect millions of individuals in Africa, South Asia and South America. Current treatments are often toxic, ineffective, inconvenient and expensive. In addition, recent reports document
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SOURCE Upstream Biosciences Inc.
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