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Caprion Pharmaceuticals Inc. Named One of Canada’s Fastest Growing Companies in 2006 Deloitte Life Sciences Fast 15 Program

Montreal, Canada - September 22, 2006 - Caprion Pharmaceuticals Inc. announced today that it has been named to Deloitte's prestigious Canadian Life Sciences Fast 15, an extension of Deloitte's annual Canadian Technology Fast 50 which recognizes excellence, innovation and the quickest growing technology companies in Canada. The Life Sciences category was recently created by Deloitte in order to highlight outstanding achievements of companies in this business sector.

"We are very proud to be recognized by Deloitte with this important award" said Lloyd M. Segal, Caprion's President and CEO. "The biotechnology industry is extremely promising but full of risks including extensive research efforts, rapid technological change, and costly clinical trials. Being named to this select group is a testament to our Company's vision and I would like to express my gratitude to our diligent and passionate employees who are responsible for Caprion's phenomenal success."

"The Deloitte Life Sciences Fast 15 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment," said John Ruffolo, National Leader, Technology, Media & Telecommunications, Deloitte. "We applaud the successes of Caprion and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."

In order to be recognized, companies must complete a detailed questionnaire and an in-depth interview which is assessed by an independent panel of judges. Caprion was evaluated based on rigorous metrics including competitive advantage, market attractiveness, organizational effectiveness, and financial performance.

About Deloitte
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 6,200 people in 50 offices. Deloitte operates in Québec as Samson Bélair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

About Caprion Pharmaceuticals Inc.
Caprion Pharmaceuticals Inc. is a clinical-stage biotechnology company developing pharmaceutical products in the areas of infectious disease and oncology. The Company's clinical-stage programs include Shigamabs®, a product for the treatment of Shigatoxin-producing bacterial infections, and CAP-232, a targeted therapy with potential efficacy in multiple oncology indications. CellCarta®, Caprion's proprietary proteomics technology, provides Caprion with an effective means to identify novel drug targets, predict which therapeutics may be safer and more efficacious and, in certain cases, identify which patients may benefit most from a particular therapy.

Caprion Pharmaceuticals Inc.
Cindy Dandurand
(514) 228-3645

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