1. 1 3 RD Annual TBI Monique Létourneau Executive Vice-President & CFO September 21, 2007

2. 2 This presentation contains forward-looking statements that reflect the Company’s 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 Company’s filings. Such statements are also based on various assumptions, including the successful and timely completion of clinical studies on Ambrilia’s 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 Ambrilia’s views to change, Ambrilia specifically disclaims any obligation to update these forward ‑ looking statements, unless obligated to do so by applicable securities laws. Ambrilia’s Forward-Looking Statements

3. 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 M&A 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

4. Purposes Expertise for Development Cash and stronger position for partnerships with Pharmas M & A Source of New Technologies PIPELINE PEOPLEFINANCE

5. Ambrilia’s M&A 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 BIOXALIS MEDICA Pharmacor Inc.

6. Acquisition of Pharmacor – April 2003 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 Pharmacor Inc. Share exchange transaction valued at $ 2.8 M Advantages for Pharmacor  Access to cash resources  Opportunity for the personnel to be part of a structured organization with strong expertise in clinical development

7. 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

8. Ambrilia & Merck: Licensing Agreement Terms  Merck receives exclusive worldwide rights to Ambrilia’s 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

9. Acquisition of Bioxalis Medica – June 2005 Advantages for Ambrilia  Complementary technologies in the Portfolio (cancer)  Larger base of shareholders  Triggering event for a $3.5M financing Share exchange transaction valued at $ 3.4 M Advantages for Bioxalis  Access to cash resources  Larger shareholder base BIOXALIS MEDICA

10. Creation of Ambrilia Biopharma – March 2006  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 Procyon Cellpep  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

11. 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

12. Challenges for each Company  Dilution on a short term basis for the shareholders (share exchange transaction) - Approval required  Financing ($18.1M) at a price reflecting difficult market conditions ProcyonCellpep  Dilution - Concurrent financing with a discount to the share exchange value  Additional disclosure and more timely financial information requirements

13. 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 Procyon’s shareholders  Information Circular  Special Shareholders Meeting

14. 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.

15. Conclusion A larger TSX-listed Biotech company (T:AMB) 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 Ambrilia: The result of imaginative transactions.....