Ms. Christina Cameron reports

SATELLOS BIOSCIENCE ANNOUNCES GRANT OF STOCK OPTIONS

Satellos Bioscience Inc.'s board of directors has approved the granting of stock options pursuant to the terms of the company's stock option plan. A total of 5,732,797 stock options have been awarded to directors, officers, employees and consultants of the company. The stock options are exercisable at a price of 60 cents per share for a period of 10 years from the date of the grant.

About Satellos Bioscience Inc.

Satellos is a publicly traded biotechnology company dedicated to developing life-improving medicines to treat degenerative muscle diseases. Satellos has incorporated breakthrough research in muscle stem cell polarity into a proprietary discovery platform, called MyoReGenX, to identify degenerative muscle diseases where deficits in this process affect muscle regeneration and are amenable to therapeutic intervention. With this platform, Satellos is building a pipeline of novel therapeutics to correct muscle stem cell polarity and promote the body's innate muscle repair and regeneration process. The company's lead program is an oral, small-molecule drug candidate in development as a disease-modifying treatment for Duchenne muscular dystrophy. Satellos is headquartered in Toronto, Ont.

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