March 12, 2004

News Release: Procyon to Present Clinical Updates on its Treatment for Metastatic Hormone-Refractory Prostate Cancer at Two Major Healthcare Conferences

Procyon Biopharma Inc. (TSX:PBP) announced today that it will be presenting the Company's most recent developments with its Phase IIa clinical trial involving its therapeutic peptide for metastatic hormone-refractory prostate cancer, PCK3145, at two major healthcare conferences. The Company will present its most recent clinical developments at the 95th Annual Meeting of the American Association for Cancer Research (AACR) at the end of March and subsequently will present for the first time the final Phase IIa results at the 2004 American Society of Clinical Oncology (ASCO) Annual Meeting in June. 'We are very excited to have been invited to present our complete and final data related to the Phase IIa clinical trial currently ongoing in Manchester UK,'said Hans J. Mader, President and Chief Executive Officer of Procyon Biopharma Inc. 'We attribute a great deal of value to these scientific presentations as they validate our clinical work through peer-recognition while providing us with interesting opportunities to present our technologies to potential pharmaceutical partners,'he added.

About the presentations

Dr. Chandra J. Panchal, Senior Executive Vice-President, New Technologies and Preclinical Research at Procyon, will present a scientific poster (No. 4473) entitled Safety, tolerability, pharmacokinetic and escalating single doses of PCK3145 in patients with metastatic hormone resistant prostatic cancer (HRPC) at the 95th AACR meeting to be held in Orlando, Florida. The poster will describe the latest clinical, safety and pharmacokinetic data from the Phase IIa clinical trial on PCK3145, its therapeutic peptide for the treatment of metastatic hormone-refractory prostate cancer as well as supportive preclinical results showing the effect of PCK3145 on skeletal metastasis in a rat prostate cancer model. The session will be held on Tuesday, March 30, 2004 at 1:00 p.m. Please visit www.aacr.org for more information.

Professor Robert Hawkins of the University of Manchester, UK, and the Principal Investigator of the Phase IIa trial will present a scientific poster (No. 603) entitled A multiple ascending dose, open-label, phase IIa study evaluating the safety and tolerability of PCK3145 administered intravenously in patients with metastatic hormone refractory prostate cancer (HRPC) at the 2004 ASCO Meeting to be held in New Orleans, Louisiana. This poster will present for the first time the complete detailed data for the open-label dose- escalating Phase IIa human clinical trial currently ongoing in Manchester. As reported previously, the marked reduction in plasma MMP-9 levels of patients receiving PCK3145 treatment indicates a biological effect, possibly related to control of metastasis. The poster presentation will be held on Sunday, June 6, 2004 at 1:00 p.m. in the Genitourinary Cancer General Poster Session. Please visit www.asco.org for more information.

About Procyon Biopharma

Procyon Biopharma Inc. is a publicly traded, Montreal-based, Canadian biotechnology company actively engaged in the discovery and development of innovative therapeutics and diagnostics in the fields of oncology and infectious diseases. Procyon brings its products and technologies from the laboratory to the clinical trials and licenses them to larger pharmaceutical partners for further development and commercialization. Procyon's pipeline comprises a healthy combination of early-stage anti-cancer platforms, PSP94 and ANsA, as well as anti-HIV/AIDS compounds, PL-100, a protease inhibitor, and PL-2500, a lead candidate integrase inhibitor. The Company also has two late-stage products: Fibrostat(R), licensed to Biovail Corporation, and Colopath(R)/ColorectAlert(TM), licensed to IMI International Medical Innovations Inc. Procyon shares are listed on the Toronto Stock Exchange (TSX) under the ticker symbol PBP. (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. %SEDAR: 00010254EF

For further information: Christian Marcoux, M.Sc., Manager, Investor & Public Relations, Procyon Biopharma Inc., (514) 685-2000 ext. 118, M.: (514) 602-5628, cmarcoux(at)procyonbiopharma.com

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