Axelson BioPharma Research becomes CANTEST BioPharma Services

Press release

May 26, 2005

Burnaby, British Columbia - CANTEST Ltd. announced today the re-naming of Axelson BioPharma Research (ABR), the company’s pharmaceutical analysis division, to CANTEST BioPharma Services. The name change represents the final step in an integration process that began in 2001 with a Joint Venture between the two groups.

“The completion of ABR’s integration is a significant achievement and a big step towards our goal of developing the first truly integrated Life Sciences company in Western Canada”, states Dr. Donald Rix, CANTEST’s Chairman of the Board.

In making the transition, CANTEST has recruited top-level scientific expertise from the United States and Western Europe and made significant investments in equipment and information technology.  “CANTEST is committed to adding to its industry reputation for high quality science through the exploration of linkages with drug development clinics. In combination with all CANTEST divisions, BioPharma Services has developed into a Good Laboratory Practices (GLP) compliant, premier Canadian Contract Research Organization with a wide range of service offerings and scientific expertise”, adds Lorelei Lutter, Director of Business Development for CANTEST BioPharma Services.

Detailed information on CANTEST and its four lines of business and can be found on the company’s recently re-designed website at www.cantest.com.

About CANTEST BioPharma Services:
CANTEST BioPharma Services is a regulatory compliant contract research facility, providing testing and consulting services in support of pre-clinical and clinical trials undertaken by pharmaceutical and biotechnology organizations.

About CANTEST:
CANTEST is a full service laboratory providing professional analysis and consultation for companies, governments and individuals in biotechnology, pharmaceutical, environmental, industrial hygiene and food safety related fields.  The company operates Canadian offices in BC, Manitoba and Ontario with affiliates in the United States and Southeast Asia.

For more information regarding CANTEST BioPharma Services or CANTEST Ltd., please contact:
Lorelei Lutter (llutter@cantest.com), Director, Business Development (BioPharma Services) or Steve Timuss (stimuss@cantest.com), Director, Business Development (Corporate).

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