March 24, 2009

Protox Therapeutics Inc. (TSX: PRX: 11.17, 0, 0%), a leader in the development of receptor targeted fusion proteins, today announced that John Parkinson has been appointed Chief Financial Officer of the Company, effective immediately. Mr. Parkinson will replace David Swetlow, Vice President of Finance and Operations, who is leaving Protox to pursue entrepreneurial opportunities.John has proven leadership capabilities, business acumen and a track record of successfully managing change and delivering profitable growth," said Dr. Fahar Merchant, President and Chief Executive Officer of Protox.

"His wealth of knowledge and experience in the US and Canadian capital markets, managing sizable partnership relationships, as well as his thorough understanding of business operations, will provide tremendous depth to our management team. John will play an essential role as we continue to advance our business development strategies and broaden and strengthen our relationships with the financial community. He also will be able to work from the foundation built by David during his time with us, who we wish every success in his new endeavor."