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Biomira Selects PX-866 as Clinical Development Candidate and,Presents Promising Preclinical Data at AACR

clinical and clinical development of PX-866; the therapeutic and commercial potential of PX-866; the filing of an investigational new drug application for PX-866 and the timing thereof; and future clinical development plans. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes", "anticipates", "plans", "expects", "will", "intends", "potential", "possible" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Biomira's current expectations. Forward-looking statements involve risks and uncertainties. Various factors could cause actual results to differ materially from those projected in forward-looking statements, including those predicting the clinical development of PX-866; the therapeutic and commercial potential of PX-866; the filing of an investigational new drug application for PX-866 and the timing thereof, and future clinical development plans. There can be no guarantee that the results of earlier trials will be predictive of either safety or efficacy in future trials. Biomira expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

CONTACT: Investor and Media Relations Contact: Stephanie Seiler, Ph.D.,Gemini BioProjects LLC, (206) 713-0124, ir@biomira.com

Ticker Symbol: (Toronto:BRA.),(NASDAQ-NMS:BIOM)

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