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3RD Annual TBIMonique Létourneau

Executive Vice-President & CFO

September 21, 2007

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This presentation contains forward-looking statements that reflect the Company’s current expectation regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory approval process, establishment of corporate alliances and other risks detailed from time to time in the Company’s filings. Such statements are also based on various assumptions, including the successful and timely completion of clinical studies on Ambrilia’s products demonstrating efficacy and safety for human use, their successful commercialization within the forecasted timelines and the attainment of the forecasted milestone payments and other revenues. While Ambrilia anticipates that subsequent events and developments may cause Ambrilia’s views to change, Ambrilia specifically disclaims any obligation to update these forward‑looking statements, unless obligated to do so by applicable securities laws.

Ambrilia’s Forward-Looking

Statements

Overview

Biotech Challenges Find technologies with a high potential of value addition Access to cash to develop these technologies Create interest from our clients: the Pharma Companies

M&A Transactions Add, replace or complement technologies to the Portfolio Triggering event to interest new investors and new financing Create a critical mass Stronger financial position to be in a position of strength to

negotiate with Pharmas

Purposes

Expertise for Development

Cash and stronger position for

partnerships with Pharmas

M & A

Source of New Technologies

PIPELINE PEOPLE FINANCE

Ambrilia’s M&A Transactions – 2003-2006

Pharmacor in 2003 Biotech in Laval (Quebec) Infectious deseases – HIV Protease Inhibitors

(PPL-100) and HIV Integrase Inhibitors

Bioxalis in 2005 Biotech in Ville St-Laurent (Quebec) Cancer – Tumor Vasculature Delivery Platform

Cellpep in 2006 Biotech in France (Paris, Marseille) Cancer and infectious deseases

BIOXALISMEDICA

Pharmacor Inc.

Acquisition of Pharmacor – April 2003

Advantages for Ambrilia

Additionnal technologies in the Portfolio (infectious desease – PPL-100) Larger base of shareholders Triggering event for a $3.25 M financing Addition of knowledgeable scientists in the field of HIV/AIDS Pharmacor Inc.

Share exchange transaction valued at $ 2.8 M

Advantages for Pharmacor

Access to cash resources Opportunity for the personnel to be part of a structured organization with strong expertise in clinical development

Acquisition of Pharmacor (continued)

Ambrilia developed the PPL-100 from the pre-clinical stage to Phase I

In October 2006, Ambrilia closed a major out-licensing transaction of the PPL-100 with Merck

Ambrilia & Merck: Licensing Agreement

Terms

Merck receives exclusive worldwide rights to Ambrilia’s HIV/AIDS PI Program, incl. lead compound PPL-100

Upfront licensing fee: $US 17M, additional milestones: $US

212M

Royalties on sales

Merck assumes all future development costs Potential additional payments and royalties on development

and commercialization of each related compound

Acquisition of Bioxalis Medica – June 2005

Advantages for Ambrilia

Complementary technologies in the Portfolio (cancer)Larger base of shareholdersTriggering event for a $3.5M financing

Share exchange transaction valued at $ 3.4 M

Advantages for Bioxalis

Access to cash resources Larger shareholder base

BIOXALIS

MEDICA

Creation of Ambrilia Biopharma – March 2006

TSX-listed Biotechnology company 24 employees Located in Montreal Working capital $ 8.1 M (Dec. 31, 2005) Innovative therapeutic products – in oncology and HIV/AIDS Development time horizon of 10 years Large potential revenues (large market

for each product) Business model includes outsourcing manufacturing operations

Procyon Cellpep

Private biotech company owned by French investment funds and financial angels 14 employees Located in France Minimal working capital Late-stage reformulated drugs in oncology and early-stage anti-virals Development time horizon of

approximately 3 years Potential short term revenuesBusiness model includes manufacturing of compounds

Business Rationale

Creation of a new company with a critical mass Attracts new investors Scientific expertise more easily accessible Administrative synergies More efficient operational structure

Decreases the overall risk of the company Value-added reformulated drugs: less risky More diversified product pipeline

Possibility to have access to recurrent revenues more rapidly Cash generated from licensing agreements Possibility to benefit from sales revenue more rapidly

Challenges for each Company

Dilution on a short term basis for the shareholders (share exchange transaction) - Approval required

Financing ($18.1M) at a price reflecting difficult market conditions

Procyon Cellpep

Dilution - Concurrent financing with a discount to the share exchange value

Additional disclosure and more timely financial information requirements

Some of the Complex Issues

Relative Valuation – Share Exchange Volatile stock price of a biotech listed company Biotech sector under downward pressure in 2005 Fundamental value: reformulated drugs easier to evaluate than

proprietary products – shorter time to market for the reformulated drugs

Cross border transaction – Accounting and Legal aspects Financial reporting: French GAAP vs. Canadian GAAP French regulations Communication issues in different time zones

Approval by Procyon’s shareholders Information Circular Special Shareholders Meeting

Resulting Product Pipeline

(1)

(2)

(1) Licensed to Mallinckrodt (U.S.), TEVA (France, Germany, Benelux, Spain and Scandinavia), and others

(2) Licensed to Merck & Co., Inc.

Conclusion

A larger TSX-listed Biotech company (T:AMB)

A risk-adjusted pipeline of multiple drug candidates including value-added late-stage reformulated drugs

Pipeline of products addressing large markets

Strong partners: Merck & Co., Mallinckrodt, TEVA

With potentially sales revenue generated more rapidly

Ambrilia: The result of imaginative transactions .....