Osteologix announces receipt of Decision to Grant a Patent from JPO for NB S101 osteoporosis drug candidate

Osteologix, Inc. (OTCBB:OLGX) today announced that the Japan Patent Office (JPO) has issued a Decision to Grant a Patent for Application Number 2006-504379: "Treating Cartilage/Bone Conditions with Water-Soluble Strontium Salts". The patent claims cover the treatment of osteoporosis and related bone conditions using NB S101 (strontium malonate), the Company's lead osteoporosis drug candidate. The Company expects the patent will issue by the end of 2009. The patent's 20-year term will expire in 2024. Osteologix has now received patent protection for its novel osteoporosis therapy in the three major pharmaceutical markets in the world: Europe, United States and Japan.

"We believe the intellectual property protections established by this patent in Japan, combined with our U.S. and European equivalents, will enable us to maximize the value of NB S101 in the most important pharmaceutical markets around the globe," stated Philip J. Young, President and Chief Executive Officer of Osteologix.