TORONTO, Ontario – November 5, 2007: AIM Therapeutics Inc. is pleased to announce that it has successfully completed a round of private equity financing of $4 million CDN. 

AIM Therapeutics is an early stage pharmaceutical company focused on developing breakthrough medical treatments for inflammatory and immune disorders including asthma, COPD, spinal cord injury, restenosis and diabetes.  AIM has established two proprietary technology platforms: Neutropel and Ep1B.  The company will use the capital to advance its lead compound, AIM-002, for the treatment of asthma through GMP manufacturing, pre-clinical toxicology and safety pharmacology studies and formulation development by the end of 2008.  Upon successful completion of these activities, AIM-002 would be positioned for regulatory approval to initiate Phase I clinical studies.  AIM-002 is based on the Company’s Neutropel technology platform, which has led to a series of small peptides that can be administered orally, by inhalation and by injection.  These peptides work by preventing the adhesion and infiltration of neutrophils into surrounding tissue and inhibiting inflammation.  

AIM Therapeutics will also pursue validation studies of its Neutropel technology in additional disease indications, as well as continue to investigate its Ep1B technology as a potential treatment for restenosis and type 1 diabetes. 

“The Company’s success in rapidly completing this financing indicates that there is strong investor confidence in the people and the science of AIM Therapeutics." said Dr. Richard Timmer, AIM Therapeutics President and CEO.  “Our lead program is focused on providing a non-steroidal, orally delivered drug for the treatment of asthma.  Asthma is a devastating and rapidly growing disease with a strong need for new therapeutic approaches. Our investors identified with this critical need, and with our novel approach to developing new drugs for asthma and other inflammatory diseases.”  

AIM Therapeutics is a private company based in the MaRS Discovery District in Toronto, Ontario. 

About AIM Therapeutics Inc.:

AIM Therapeutics is a privately held biotechnology company focused on the development of peptide-based therapeutic candidates for the treatment of asthma, cardiovascular disease, diabetes, spinal cord injury, and other inflammatory and immune disorders.  The Company’s therapeutic candidates are based on research from leading scientists at the University of Western Ontario and the University of Calgary.  AIM Therapeutics is pursuing the pre-clinical validation and development of its lead candidates through a virtual business model being managed by BioQuest Innovations Inc.   

For more information:

Dr. Richard Timmer

416-673-8433

rtimmer@bioquestinnovations.com

www.aimtherapeutics.com