January 2006

Forward Looking Statements

Certain statements contained in this presentation, other than statements of fact that are independently verifiable at the date hereof, may constitute forward -looking statements. Such statements, based as they are on the current expectations of management of Chemokine, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond Chemokine's control. Such risks include, but are not limited to, the impact of general economic conditions, economic conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which Chemokine does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation, as well as other risks included in Chemokine's preliminary prospectus under the heading " risk factors", which you are urged to read. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. The reader should not place undue reliance on the forward-looking statements included in this presentation . These statements speak only as update of the date they are made and Chemokine is under no obligation to revise such statements as a result of any event, circumstance or otherwise except in accordance with law.

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COMPANY AT A GLANCE

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• Biotechnology company with products

• OTCBB: CHKT

• Shares: 42 million

• 52 weeks: $0.8 – 1.30

• Market Cap. $45 million

• Well funded and Sufficient funds on hand for Two lead drugs to the end of Phase II trials

• Also trades on Toronto: CTI

Chemokines are a new and explosive drug development field

Evidence:

1- November 2005 Pfizer buys chemokine program of Incyte for $800 million

2- Summer 2004 Amgen buys First Chemokine company(Tularik) for $1.2 billion

3- Summer 2003 Millennium Buys Leukocytes (chemokine-based) for $600 million

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What are Chemokines?

Chemokines: New Class of Cytokines

Epogen, Neupogen,Avonex, Intron

$20B

Fusion (first chemokine-based drug). Roche/Trimeris

$1B

Cytokines Chemokines

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Same Market Potential

Product Pipeline

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Drug Stage of Development

Research Animal Human Human Human MarketLab Testing Testing Phase I Phase II Phase III

CTCE-9908

CTCE-0214

CTCE-0324

CTCE-0422

CTCE-0501

Cancer

Immune System Booster

Vascular Disease

Anti-Infection

Stroke

Metastasisequalsdeath

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Product # 1:CTCE-9908

Cancer Relapses, due to Metastasis

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• Almost all cancer deaths are due to cancer metastasis

• A new approach has taken by us whichStops the spread of cancer throughInhibition of cancer metastasis process

Cancer Relapse Due to Metastasis

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Cancer cells detach and migrate to blood vessel

2.

Cancer cells migrate to tissue with a high SDF-1 concentration

3.

Cancer cells accumulate and form new tumour

Lung

Liver

Bone

Primary tumour

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CXCR4 – A Validated Target

Role established in metastasis of several types of cancer, Muller et al, Nature, 2001

> 2,000 publications on CXCR4200 related to cancer

Many independent labsworking on CXCR4

Cancer cell

CXCR4

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CTCE-9908 Targeting CXCR4

The only known natural chemokine for CXCR4

An antagonist that blocks SDF-1 binding to CXCR4, preventing the formation of metastastic tumours

SDF-1

CTCE-9908

Cancer cell

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CXCR4

CTCE-9908 Preclinical Findings

Lung cancer68%

Bone cancer67%

Prostate cancer61%

Average65% ResponseRate

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Skin cancer65%

CTCE-9908 Phase I Results

Volunteers n = 24 (18 male, 6 female)

Single dose

Maximum dose tested 5 mg/kg

No dose limiting toxicity

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CTCE-9908 Next Step to Added Value

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Chemokine to start Phase Ib/II clinical trials in the Q1, 2006

Expected results in Q4, 2006

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Bloodequalslife

Product # 2:CTCE-0214

Blood Cell System Disorders

Healthy state Suppressed state(Chemotherapy, AIDS, etc.)

Rate of mobilization no longer fully replenishes WBCs and platelets

Platelets

Fewer WBCs and platelets results in infections/fatigue and other medical complications

Bone marrow

Stem cells

Spleen

White blood cells (WBC) 17

Blood vessel

CTCE-0214 Targeting CXCR4

The only known natural chemokine for CXCR4

• A CXCR4 agonist

• Mobilizes stem cells from bone marrow and spleen

• Assists in the differentiation of stem cells into white blood cells and platelets

CXCR4

SDF-1

CTCE-0214

Stem cells and

White Blood Cells(WBC)

• Mobilizes WBCs and platelets

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CTCE-0214 Clinical Trial Phase I

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Conducted in Tacoma/Seattle, Washington under US-INDEnrolled 24 volunteer subjectsRandomized, double-blind, placebo controlled

Results: The drug showed to be safe and well tolerated

Preliminary efficacy was observed

CTCE-0214 Clinical Phase I Efficacy

Safety established – No serious adverse events

Dose dependantresponse at 6, 12 and24 hours

Warrants advancing toadditional clinical trials

300%Increasein WBCs

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CTCE-0214 Market Potential

White blood cell products represent US$3 B

Projected to grow to US$4.5 B by 2008

Dominated by Neupogen® of Amgen

• Takes at least 4-5 days for response on average and up to 14 days for full recovery

CTCE-0214 has fast action

• Potential to enhance production and infection fighting capacity of white blood cells in all patients

• Potential to act synergistically with Neupogen®

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CTCE-0214 Next Step to Value

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• We have started the second Phase of clinical trialsPhase Ib/II in Dec. 2005

• The work is being conducted in Tacoma, Washington

• Results are expected in the Summer of 2006

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Peripheral Arterial Disease

Product #3

CTCE-0324

Peripheral Arterial Disease (PAD)

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Causes:DiabetesObesityAgeAtherosclerosis

Current Treatment:AmputationPhysiotherapyExerciseAspirin 10 million patients

in the USA

Our Drug Generates New Blood Vessels

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Neovascularization occurswith CTCE-0324 compound

Control - Untreated

Main Vasculature After 2 Weeks

Market Potential: $10 Billion

Company Management and Advisors

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Hassan Salari, PhD - Founder, President & CEOFounding President and CEO Inflazyme PharmaFormer Professor of Medicine, UBC

Walter Korz - Vice President, Drug DevelopmentFormer Manager of clinical development Angiotech

Malcolm Moore, D. Phil. (Medical Advisor)Professor Memorial Sloan Kettering Cancer Institute, NYCo-discoverer of Neupogen for Amgen

Shahin Rafii, M.D. (Medical Advisor)Howard Hughes Medical Institute Award Recipient, Cornell Medical Center, NY

Edward Ball, M.D. (Medical Advisor)Professor University of California San DiegoCo-founder Medarex, NJ

Comparables

Company Stage Market Cap.

Chemokine (CHKT) Phase I/II $45 million

Point Ther (POTP) Phase II $100 millionOxigene (OXGN) Phase II $115 million

AnorMED (AOM) Phase II $130 million

Curis (CRIS) Phase II $215 million

Aastrom Bio (ASTM) Phase II $285 million

Stem Cells Inc (STEM) Phase II $325 million

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• 2005 Pfizer and Incyte Pharmaceuticals. Incyte finishes Phase II (IBD). Pfizer license the product for $800 million

• 2004 Amgen and Tularik. Tularik finishes Phase II (arthritis). Amgen buys Tularik for $1.2 Billion

• 2003 Millennium Pharmaceuticals and Leukocytes. Leukocytes finishes Phase II (transplant). Millennium buys leukocyte for $600 million

• Chemokine Therapeutics, 16 patents, lead in cancer, blood disorder, vascular, 9-12 months away from finishing Phase II >>>>>>>>>>> $$$

Exit Strategy (Partnership / M&A)

The Company in Review

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• Biotechnology company with 5 products– Two drugs in Phase II in 2006– One drug entering IND in 2006– Two products in animal studies

• 16 patents

• Licensing or M & A in the horizon

• Publicly Traded – OTCBB: CHKT and TSX: CTI

• Visit our website: www.CHKT.com