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FOR IMMEDIATE RELEASE
Interim Clinical Results on Carfilzomib to be Presented at ASCO 2007

South San Francisco, California, May 24, 2007 – Proteolix, Inc. announced today that interim clinical data on intravenous carfilzomib (PR-171) are to be presented at the upcoming 2007 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, Illinois, June 2-5, 2007. Carfilzomib is a potent and selective proteasome inhibitor with a favorable safety profile currently being investigated for the treatment of multiple myeloma and lymphoma.

A. Keith Stewart, M.B. Ch.B., of the Mayo Clinic in Scottsdale/Phoenix, Arizona, will be presenting data from two Phase 1 clinical studies on Monday, June 4 in the Arie Crown Theater in a session entitled “How New Agents Work in Multiple Myeloma” beginning at 7:30 am CDT. Additional information about the 2007 ASCO Annual Meeting can be found on the ASCO website at www.asco.org.

"We are very pleased that the interim clinical results show a response so early in development, and with the potential of this product candidate to help persons afflicted with multiple myeloma,” said Susan M. Molineaux, President and CEO of Proteolix. “The data thus far strongly support the continuation of the development program, and we look forward to commencing Phase 2 trials in multiple myeloma, Non-Hodgkin’s Lymphoma and solid tumors in 2007.”

About Proteolix
Proteolix, Inc. is a biopharmaceutical company dedicated to discovering, developing and marketing pharmaceutical products that target certain cancers by inhibiting the proteasome and thereby disrupting protein turnover in cells, particularly cancer cells, which leads to cell death. Proteolix is developing next generation proteasome inhibitors, including an oral proteasome inhibitor and a selective immunoproteasome inhibitor, to expand the therapeutic potential of this new target class. Proteolix is headquartered in South San Francisco. For more information, please visit the Company's website at www.proteolix.com.

CONTACT: Stephen Brady, Executive Director, Business and Legal Affairs, (650) 266-2600.

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