MONTREAL, QUEBEC -- (MARKET WIRE) -- 06/06/07 -- Mistral Pharma Inc. (TSX Venture:MIP) announced today that it has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for a new oral drug delivery platform to be used in some of its pipeline development projects. This oral drug delivery platform was developed by Mistral's Vice President of R&D, Dr. Alain Desjardins and senior formulator Najiba Dernaoui. The patent application was filed by the Montreal office of Bereskin & Parr, a leading patent agent firm.

"The filing of this patent application shows that Mistral can count on an additional oral delivery platform, which increases the versatility of our technology portfolio" said Mr. Bertrand F. Bolduc, Mistral's President & CEO. "In addition to Procise(TM), Savit(TM) and Chronop(TM), Mistral can use at least two other platforms in order to develop optimal oral drug delivery formulations" he added.

About Bereskin & Parr

Bereskin & Parr is a leading Canadian intellectual property law firm and serves clients in over 100 countries worldwide. With its 200 people, including more than 65 lawyers, patent and trade mark agents, and technical consultants, Bereskin & Parr is consistently rated in Canada as a market benchmark for intellectual property law. Bereskin & Parr was founded in 1965, and has offices in Toronto, Mississauga, Waterloo and Montreal. www.bereskinparr.com

About Mistral Pharma Inc

Mistral Pharma is an innovative pharmaceutical product development and drug delivery company and its first two branded products, MIST-B01 & B02, showed positive results at their respective first pilot clinical trials. Mistral also have the Canadian rights to Instillagel®, a local anesthetic and antiseptic combination product used for urology procedures which is expected to be launched in Canada during Q4 2007. Mistral positions itself as a development and marketing partner for pharmaceutical companies. Additional information about Mistral Pharma can be obtained on Mistral Pharma's website at www.mistralpharma.com.

Forward-looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of Mistral Pharma. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for Mistral Pharma's products, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contacts:
Mistral Pharma Inc.
Bertrand F. Bolduc, B.Pharm., MBA
President & Chief Executive Officer
514-421-1717 # 2224
bbolduc@mistralpharma.com

Mistral Pharma Inc.
Alain Provencher, CA, CF
Vice-president, Finance & Chief Financial Officer
514-421-1717 # 2222
aprovencher@mistralpharma.com