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Pacgen Announces Positive Results from Phase I/II Trial of Novel,Antifungal Drug

PT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELASE. Forward looking Statements

Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Pacgen's current beliefs as well as assumptions made by and information currently available to Pacgen and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Pacgen in its Final Prospectus dated November 28, 2006, actual events may differ materially from current expectations. Pacgen disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For all forward-looking statements, Pacgen claims the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform.

    TELECONFERENCE CALL NOTIFICATION: Monday, May 7, 2007 4:30pm EDT/

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    1:30pm PDT

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On May 7, 2007, Pacgen Biopharmaceuticals Corp. will host a teleconference call at 4:30pm EDT (1:30pm PDT). To participants in the teleconference call please dial 1-800-589-8577 in Canada and the U.S. or 00-800-0022-8228 Internationally before 4:30pm EDT. The reservation number required for access is # 21231386. This
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