Cambridge, MA, June 17, 2005 � Therion Biologics Corporation has successfully secured private equity financing totaling $30 million. The financing was led by investor/philanthropist Hans-Werner Hector, one of the founders of the world�s leading enterprise software company, SAP AG. Other participants in the financing included Loeb Investors, SRK Management Company, and Cheng Xin (CX) Venture Capital Group.

�Therion has continued to demonstrate its ability to achieve its milestones and advance its programs into late-stage clinical development,� stated Mr. Hector. �The Company has reached a pivotal stage in demonstrating its leadership in targeted cancer therapy development as it completes enrollment for clinical trials in both prostate cancer and pancreatic cancer.�

Therion will use the funds for the clinical advancement of PANVAC-VF and PROSTVAC�-VF, its lead product candidates to treat pancreatic cancer and prostate cancer, respectively. In late 2003, the Company initiated a Phase II trial of PROSTVAC-VF in prostate cancer and in mid-2004, Therion initiated a pivotal Phase III trial of PANVAC-VF in advanced pancreatic cancer under a Special Protocol Assessment with the FDA. Clinical data from both trials are expected in 2006.

�Therion is poised to make a significant impact on the treatment of cancer with our products designed to selectively seek out and destroy malignant cells without the serious side effects associated with cytotoxic chemotherapy,� said Mark Leuchtenberger, President and Chief Executive Officer of Therion Biologics Corporation. �This financing reflects the ongoing interest among our investors for our programs and strategy as we move closer to a potential BLA filing for marketing approval of PANVAC-VF and the initiation of registration studies for PROSTVAC-VF in 2006.�

In connection with this financing, Therion also announces the appointment of Kathryn Davis to the newly created position of Vice President, Clinical Affairs. Ms. Davis comes to Therion with nearly 20 years of drug development experience, most recently holding the position of Assistant Vice President, Clinical Operations, Clinical Research and Development supporting Translational Research at Wyeth Corporation in Cambridge, Massachusetts. She will be responsible for all aspects of operational clinical trial oversight at the Company.


�This recent financing has allowed us to put in place the personnel and infrastructure that we need to complete our existing clinical trials,� said Thomas Schuetz, M.D., Ph.D., Senior Vice President and Chief Medical Officer of Therion Biologics Corporation. �Kathryn�s extensive drug development experience will ensure that we remain on an aggressive track with our late-stage clinical development programs.�

About Therion Biologics Corporation
Therion Biologics Corporation is a leader in the development of novel targeted cancer therapeutics designed to selectively seek out and destroy malignant cells without the serious side effects associated with cytotoxic chemotherapy. The Company has two lead product candidates:
� PANVAC-VF is in a Phase III registration trial for the treatment of pancreatic cancer;
� PROSTVAC�-VF is in Phase II trials for the treatment of prostate cancer.

In addition to these lead product candidates, clinical trials evaluating Therion�s innovative targeted therapeutics in colorectal, ovarian, breast and lung cancers are also ongoing or planned. Therion�s strategic partners are the National Cancer Institute (NCI) and a network of renowned clinical institutions.

Therion�s technology platform has been evaluated over a 13-year period in more than 30 clinical trials comprising close to 1000 patients, chiefly through the Company�s longstanding partnership with the NCI. This extensive research has enabled Therion to clinically optimize its technology and maximize the probability for downstream success. Therion�s two lead product candidates, PANVAC-VF and PROSTVAC-VF, are a direct result of these efforts.

For more information, please visit www.therion.com

Contacts:
Titus M.F.M. Plattel
Senior Director, Marketing
Therion Biologics Corporation
(617).475.7312
www.therion.com

Kari Lampka
MacDougall Biomedical Communications
(508).647.0209
[email protected]