Procyon's Shares are Now Eligible Within the Quebec SME Growth Stock Plan.

MONTREAL -- Procyon Biopharma Inc. (TSX:PBP), a biotechnology company developing innovative therapeutics in the fields of cancer and HIV/AIDS, announced today that it received confirmation from Le Ministere du Revenu du Quebec that its common shares are eligible within the SME Growth Plan and are registered by the Autorite des Marches Financiersin compliance with the measures announced in the 2005-2006 Quebec Budget, on April 21, 2005. This listing within the SME Growth Stock Plan provides 100% deductibility for eligible individual investors for Quebec income tax purposes, provided certain conditions are met.

"We are pleased that Procyon's common shares are eligible within the Quebec SME Growth Stock Plan as the latter constitutes an incentive for individual investing on the public market and will allow the Company to attract more investors, particularly in the retail segment of the market," said Hans J. Mader, president and chief executive officer of Procyon Biopharma.

Further information on the SME Growth Stock Plan can be found on Le Ministere du Revenu du Quebec web site at: www.revenu.gouv.qc.ca.

ABOUT PROCYON BIOPHARMA INC.

Procyon Biopharma Inc. is a biotechnology company actively engaged in the discovery and development of innovative therapeutics in the fields of cancer and HIV/AIDS.The Company leverages its strengths in research and clinical development, bringing products through late-stage clinical trials and then evaluating the best options for further development, such as co-development and licensing.Procyon's pipeline includes: PCK3145, a non-toxic peptide soon to enter a Phase II North American trial for the treatment of advanced metastatic prostate cancer; TVT-Dox, a tumor vasculature  targeting technology for the treatment of solid tumors for which an IND filing is expected within 12 months; and PPL-100, a protease inhibitor for the treatment of drug-resistant HIV/AIDS which will enter clinical development before the end of the year.Procyon has won the 2005 Frost & Sullivan Award for Excellence in Technology for its overall scientific and technological contributions towards the advancement of cancer therapy.Headquartered in Montreal, Procyon shares are listed on the Toronto Stock Exchange (TSX) under the ticker symbol PBP. For more information, visit www.procyonbiopharma.com.

This release 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.

Procyon Biopharma Inc. (TSX:PBP)