3RD Annual TBI

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3RD Annual TBI Monique Létourneau Executive
Vice-President CFO September 21, 2007
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This presentation contains forward-looking
statements that reflect the Companys current
expectation regarding future events. The
forward-looking statements involve risks and
uncertainties. Actual events could differ
materially from those projected herein and depend
on a number of factors including, but not limited
to, changing market conditions, successful and
timely completion of clinical studies,
uncertainties related to the regulatory approval
process, establishment of corporate alliances and
other risks detailed from time to time in the
Companys filings. Such statements are also based
on various assumptions, including the successful
and timely completion of clinical studies on
Ambrilias products demonstrating efficacy and
safety for human use, their successful
commercialization within the forecasted timelines
and the attainment of the forecasted milestone
payments and other revenues. While Ambrilia
anticipates that subsequent events and
developments may cause Ambrilias views to
change, Ambrilia specifically disclaims any
obligation to update these forward-looking
statements, unless obligated to do so by
applicable securities laws.
Ambrilias Forward-Looking Statements
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Overview

• Biotech Challenges
• Find technologies with a high potential of value
  addition
• Access to cash to develop these technologies
• Create interest from our clients the Pharma
  Companies
• MA Transactions
• Add, replace or complement technologies to the
  Portfolio
• Triggering event to interest new investors and
  new financing
• Create a critical mass
• Stronger financial position to be in a position
  of strength to negotiate with Pharmas

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Purposes
M A
Expertise for Development
Cash and stronger position for partnerships with
Pharmas
Source of New Technologies
PIPELINE
PEOPLE
FINANCE
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Ambrilias MA Transactions 2003-2006

• Pharmacor in 2003
• Biotech in Laval (Quebec)
• Infectious deseases HIV Protease Inhibitors
  (PPL-100) and HIV Integrase Inhibitors
• Bioxalis in 2005
• Biotech in Ville St-Laurent (Quebec)
• Cancer Tumor Vasculature Delivery Platform
• Cellpep in 2006
• Biotech in France (Paris, Marseille)
• Cancer and infectious deseases

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Acquisition of Pharmacor April 2003
Share exchange transaction valued at 2.8 M

• Advantages for Ambrilia
• Additionnal technologies in the Portfolio
  (infectious desease PPL-100)
• Larger base of shareholders
• Triggering event for a 3.25 M financing
• Addition of knowledgeable scientists in the
  field of HIV/AIDS

• Advantages for Pharmacor
• Access to cash resources
• Opportunity for the personnel to be part of a
  structured organization with strong expertise in
  clinical development

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Acquisition of Pharmacor (continued)

• Ambrilia developed the PPL-100 from the
  pre-clinical stage to Phase I
• In October 2006, Ambrilia closed a major
  out-licensing transaction of the PPL-100 with
  Merck

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Ambrilia Merck Licensing Agreement

• Terms
• Merck receives exclusive worldwide rights to
  Ambrilias HIV/AIDS PI Program, incl. lead
  compound PPL-100
• Upfront licensing fee US 17M, additional
  milestones US 212M
• Royalties on sales
• Merck assumes all future development costs
• Potential additional payments and royalties on
  development and commercialization of each related
  compound

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Acquisition of Bioxalis Medica June 2005
Share exchange transaction valued at 3.4 M

• Advantages for Ambrilia
• Complementary technologies in the Portfolio
  (cancer)
• Larger base of shareholders
• Triggering event for a 3.5M financing

• Advantages for Bioxalis
• Access to cash resources
• Larger shareholder base

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Creation of Ambrilia Biopharma March 2006
Cellpep
Procyon

• TSX-listed Biotechnology company
• 24 employees
• Located in Montreal
• Working capital 8.1 M (Dec. 31, 2005)
• Innovative therapeutic products in oncology
  and HIV/AIDS
• Development time horizon of 10 years
• Large potential revenues (large market for each
  product)
• Business model includes outsourcing
  manufacturing operations

• Private biotech company owned by French
  investment funds and financial angels
• 14 employees
• Located in France
• Minimal working capital
• Late-stage reformulated drugs in oncology and
  early-stage anti-virals
• Development time horizon of approximately 3 years
• Potential short term revenues
• Business model includes manufacturing of
  compounds

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Business Rationale

• Creation of a new company with a critical mass
• Attracts new investors
• Scientific expertise more easily accessible
• Administrative synergies
• More efficient operational structure
• Decreases the overall risk of the company
• Value-added reformulated drugs less risky
• More diversified product pipeline
• Possibility to have access to recurrent revenues
• more rapidly
• Cash generated from licensing agreements
• Possibility to benefit from sales revenue more
  rapidly

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Challenges for each Company
Procyon
Cellpep

• Dilution on a short term basis for the
  shareholders (share exchange transaction)
• - Approval required
• Financing (18.1M) at a price reflecting
  difficult market conditions

• Dilution - Concurrent financing with a discount
  to the share exchange value
• Additional disclosure and more timely financial
  information requirements

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Some of the Complex Issues

• Relative Valuation Share Exchange
• Volatile stock price of a biotech listed company
• Biotech sector under downward pressure in 2005
• Fundamental value reformulated drugs easier to
  evaluate than proprietary products shorter time
  to market for the reformulated drugs
• Cross border transaction Accounting and Legal
  aspects
• Financial reporting French GAAP vs. Canadian
  GAAP
• French regulations
• Communication issues in different time zones
• Approval by Procyons shareholders
• Information Circular
• Special Shareholders Meeting

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Resulting Product Pipeline
(1)
(2)
(1) Licensed to Mallinckrodt (U.S.), TEVA
(France, Germany, Benelux, Spain and
Scandinavia), and others (2) Licensed to Merck
Co., Inc.
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Conclusion
Ambrilia The result of imaginative transactions
.....

• A larger TSX-listed Biotech company (TAMB)
• A risk-adjusted pipeline of multiple drug
  candidates
• including value-added late-stage reformulated
  drugs
• Pipeline of products addressing large markets
• Strong partners Merck Co., Mallinckrodt, TEVA
• With potentially sales revenue generated more
  rapidly