Mr. Frank Gleeson reports

SATELLOS TO COMMENCE TRADING ON THE TORONTO STOCK EXCHANGE

Satellos Bioscience Inc.'s common shares will begin trading on the Toronto Stock Exchange (TSX) as of the opening of trading tomorrow under the company's current trading symbol, MSCL.

"We are excited to complete the uplist to the Toronto Stock Exchange, which will provide access to a broader set of institutional investors from around the world," said Frank Gleeson, co-founder and chief executive officer of Satellos. "This uplisting reflects the milestones we have achieved with our accomplished team at Satellos as we transition from a preclinical to a clinical-stage company. We look forward to achieving a number of key milestones this year as we look to advance our lead small-molecule drug candidate for Duchenne muscular dystrophy into clinical trials and explore the potential of our small-molecule regenerative medicine approach in other degenerative muscle diseases."

Shareholders are not required to exchange their share certificates or direct registration system advices, or take any other action in connection with the listing on the TSX, as there will be no change in the trading symbol or Cusip number for the common shares.

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 potential disease-modifying treatment for Duchenne muscular dystrophy. Satellos is headquartered in Toronto, Ont.

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