Cannasat and IntelGenx Complete Phase 1 Study for CAT 310

Positive Safety Data Support Further Clinical Trials

TORONTO, Dec. 4, 2007 (PRIME NEWSWIRE) -- Cannasat Therapeutics Inc. ("Cannasat") (TSX-V:CTH), a company specializing in the development of cannabinoid-based pharmaceutical products, announced today the successful completion of its first Phase 1 clinical trial.

Results of the randomized, single dose, crossover study comparing two different formulations of the product demonstrated that administration of CAT 310 was safe and well-tolerated with no serious adverse events.

"We are very pleased by the completion of this study as it represents an important milestone for the company," said David Hill, Chief Executive Officer. "This first study in humans provides us with our first set of important clinical safety and pharmacokinetic data that will guide further formulation development. Not only did the results confirm that the formulation is clinically safe, but we now have baseline data which provides an indication of how the drug is being absorbed in the blood stream."

Hill also outlined Cannasat's next steps: "We plan to conduct further clinical studies in Q1/Q2 2008 with refined formulations developed by IntelGenx, our Montreal-based formulation development partner. Our CAT 310 program is proceeding as expected and is on track to enter Phase 2 testing in Q3/Q4 2008."

ABOUT CANNASAT THERAPEUTICS

Founded in 2004, Cannasat is an early stage pharmaceutical research and development company. Cannasat is developing cannabinoid-based pharmaceutical products using proprietary formulation and drug delivery technologies. Cannabinoids have broad therapeutic applications which are believed to include the treatment of neuropathic pain, chronic pain, depression, anxiety and movement disorders. More information about Cannasat (TSX-V:CTH) is available at www.cannasat.com

ABOUT INTELGENX CORP.

IntelGenx Corp. is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx has developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. The company's research and development pipeline includes products for the treatment of osteoarthritis, pain management, smoking cessation, and seasonal affective disorder. More information about IntelGenx is available at www.intelgenx.com

FORWARD LOOKING STATEMENTS

Certain statements in this release may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

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

-0- CONTACT: Cannasat Therapeutics Inc. Andrew Williams, COO & CFO (416) 703-2449 (Ext. 253) Fax: (416) 703-8752 awilliams@cannasat.com www.cannasat.com

Posted: December 2007

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