Thallion Announces Changes to its Board of Directors and Issuance of Stock Options

MONTREAL, QUEBEC--(Marketwire - Aug. 12, 2009) - Thallion Pharmaceuticals Inc. TLN today announced the resignation of Mr. Francois Legault. The resignation of Mr. Legault is effective immediately. "I would like to extend our deepest appreciation to Francois for his important contributions to both the audit and corporate governance committees of Thallion. His experience and advice were deeply appreciated," said Franklin Berger, Lead Director of the Board of Directors of Thallion. Further to the arrangement involving Thallion and Premium Brands Income Fund, which became effective on July 22, 2009, the Board of Directors has also approved the issuance of stock options to its directors, executive officers and certain of its employees to purchase an aggregate of 2,257,375 common shares of Thallion. Concurrent with the plan of arrangement with Premium Brands, the 2,500,907 stock options granted under Thallion's previous plan that remained unexercised at the time of the transaction were cancelled and the Company's plan was then terminated. The Board of Directors has granted these new options under the New Thallion Stock Option Plan which was approved by shareholders at the Special Meeting of shareholders held on July 10, 2009 in Montreal. About Thallion Pharmaceuticals Inc. Thallion Pharmaceuticals Inc. TLN is a biotechnology company developing pharmaceutical products in the areas of oncology and infectious disease. The Company's clinical programs include TLN-4601 and Shigamabs(R). TLN-4601 is a novel anti-cancer therapy targeting the RAS-MAPK pathway which is actively enrolling patients at multiple sites in Canada and the United States in a Phase II trial for brain cancer. Shigamabs is a dual antibody product for the treatment of Shigatoxin producing E. coli bacterial infections which is ready to begin a Phase II/III clinical program upon the completion of a development partnership. Additional information about Thallion can be obtained at www.thallion.com.