updated 3/22/2011 4:17:57 PM ET 2011-03-22T20:17:57

TORONTO, March 22, 2011 (GLOBE NEWSWIRE) -- Kyto Biopharma Inc. (Pink Sheets:KBPH) ("Kyto") is a Florida-based development stage biopharmaceutical company focused on developing receptor medicated technologies to block the uptake of vitamin B12 by non-controlled proliferative cells (cancer), thereby inhibiting the cell's ability to replicate and the tumor's ability to grow, and targeted monoclonal antibody and drug delivery technologies to selectively kill solid tumor and blood borne cancer.

Kyto has secured the support of its largest shareholders as well as of Credifinance Capital Corp. ("Credifinance"), its sole note holder, and has retained as its financial advisors and agents Bionest Partners ("Bionest") and the biotech arm of Waterford Investors Services, Health Care Capital Advisors ("HCCA").

Georges Benarroch, President of Credifinance, also President & CEO of Kyto, indicated that this was part of Credifinance's shareholders request to review the various business lines and make an assessment of the U.S. holding company's overall strategy.

"The mandate given to our advisors is to secure, for Kyto technological platform and IP portfolio, during this calendar year, the best possible strategic investor and/or partner who will understand that the Company has created a considerable and valuable patented portfolio of IP in the cancer field which, although at pre clinical stage, represents an opportunity to pursue very promising therapeutic solutions," said Dr. Uri Sagman, Kyto's COO.

In view of the limited opportunities existing in the current environment for financing a company which has already spent several million dollars over the last 10 years, most of it provided by Credifinance, and which would require to get to the next stage a sizeable dilution to its shareholders only to face an uncertain valuation issue at a later stage, the board has decided to see how best it could maximize its shareholders' value and pursue the benefits of its licensing agreement.

About the Advisors:

Bionest, based in Paris, France, provides companies in the biotechnology sector with resources and advice on building business plans, developing relationships with strategic partners, and by acting as lead agent in capital fund raising.

Health Care Capital Advisors, based in Tampa, Florida, assists companies with raising capital and creating relationships in the healthcare sector.

Both firms have a strong track record of successful business consultation, and successful fund raising efforts for biopharmaceutical firms from the start-up phase to mature multinational corporations.

About Kyto Biopharma Inc.

Kyto Biopharma Inc. is a Florida based biotechnology company operating from Toronto, Canada, developing monoclonal antibody therapies for the treatment of various forms of cancer. The Kyto research and development program is conducted by the State University of New York (SUNY Brooklyn).

Kyto is currently engaged in the development of a portfolio of potential targeted biologic treatments based on:

i) Antibody-Drug Conjugates (ADCs) to target the delivery of cytotoxins to cancer cells via the coupling of saporin or other cytotoxic payloads to mAbs that are internalized after binding to the vitamin B12 receptor.

ii) Monoclonal Antibodies (mABs) to block the vitamin B12 uptake to cancer cells.

iii) siRNA, oligonucleotides designed to down-regulate/inhibit the cancer cells' ability to express the vitamin B12 receptor, leading to cell death.

Vitamin B12 regulates one of two major cellular pathways for the production of folates, the progenitor for the synthesis of DNA. Cancer cells require increased levels of vitamin B12 for proliferation than do normal cells and, in turn, over-express the receptor for the uptake of vitamin B12.

Kyto is targeting the over-expression of the vitamin B12 receptor in the treatment of various forms of cancer. The primary approach developed by Kyto is directed at selective targeting of the vitamin B12 receptor in cancer cells by monoclonal antibodies. The Kyto technology is intended to exploit over-expression of vitamin B12 receptors in cancer cells by coupling toxins (such as saporin) to monoclonal antibodies that directly target the vitamin B12 receptor and are internalized, thereby releasing the toxin directly within the tumor cells.

Kyto's portfolio consists of molecules at the research and development stage which may ultimately prove useful in the treatment of certain types of cancer. Kyto believes that there are several human therapeutic applications for its drug candidates. Specifically, a number of properties of the Company's vitamin B12 depletion and monoclonal antibody technologies suggest a potential role for its drug candidates in the therapy of solid tumors, such as colorectal and breast cancer, in addition to the treatment of leukemia.

The Kyto BioPharma Logo is available here: https://www.issuerdirect.com/corporate/mediaroom/69118

Safe Harbor

This release contains forward looking statements that reflect, among other things, management's current expectations, plans and strategies, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. Please see "Risk Factors" in the Company's public filings with the Securities and Exchange Commission for a discussion of such risks, including the Company's need for additional funds, the Company's dependence on a limited number of therapeutic compounds , the stage of the products the Company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company's ability to avoid infringement of the patent rights of others, and the company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are released. Kyto Biopharma does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.

CONTACT: Georges Benarroch
         (33) (0) 607 40 87 06

         Kyto Biopharma Inc. 
         (Toronto Office) 
         114 Belmont St. 
         Toronto, Ontario M5R 1P8 
         Tel: 416-884-8807

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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