BC Advantage Funds Sales Exceed $8 million

Vancouver, February 7, 2007

Portfolio Updates

OncoGenex Technologies

The Advantage Venture Fund and the Advantage Life Science Fund have invested, respectively, $900,000 and $400,000 into OncoGenex. OncoGenex is developing drugs to disable common defence mechanisms used by cancer, so that the cancers can be attacked with much lower doses of chemotherapy. The Company is conducting five phase 2 clinical trials to evaluate the safety and efficacy of its lead compound in combination with various cancer therapies for prostate, non-small cell lung and breast cancer. OncoGenex is led by Scott Cormack, an Advantage Mentor.

OncoGenex recently filed a prospectus to carry out an initial public offering to raise up to US$50M at a pre-money valuation of US$120-150M and to list its securities on NASDAQ (National Market) and the TSX. If OncoGenex completes its initial public offering within this range, our Funds would experience an unrealized gain of 300-400% on their investments into OncoGenex. This would be expected to positively impact the Net Asset Value of the shares of the Advantage Venture Fund and the Advantage Life Science Fund.

Protox Therapeutics

The Advantage Venture Fund and the Advantage Life Science Fund have invested, respectively, $2,050,000 and $300,000 into Protox Therapeutics (TSX-V: PRX). Protox recently announced promising interim results from its ongoing Phase I clinical trial evaluating PRX302 in patients with localized, recurrent prostate cancer. The findings indicate that PRX302 is well tolerated and shows encouraging signs of therapeutic activity at low doses following a single intra-prostatic injection.

Early assessment of potential therapeutic activity was determined by measuring PSA (prostate specific antigen) levels throughout the study and conducting prostate biopsies post-treatment. Results show that eight of nine patients for whom 90-day data are available reported a decrease in PSA levels compared to baseline. For six out of the nine patients, reductions in PSA levels continue to be observed through day 90 or longer, with PSA levels falling by 6% to 42% compared to baseline. A comparison of prostate biopsies taken at baseline and at 30 days post-treatment shows that 8 of the 10 patients, for whom data are available, had a decrease in cancer-positive biopsies. The average decrease was 36% with four patients showing a 50% or greater reduction, including two who showed a 100% reduction. Pursuant to this announcement, the shares of Protox are now trading at a 24% premium to our most recent investment in the company.

Allon Therapeutics

The Advantage Venture Fund has invested $2,000,000 into Allon Therapeutics (TSX: NPC). Allon recently made two announcements that have provided significant third party validation of its technology. First, Allon announced that its drug AL-108 will be used in a Phase II human clinical trial as a potential treatment for cognitive impairment in schizophrenia. The United States National Institute of Mental Health selected Allon's drug AL-108 and will conduct and pay for the Phase II clinical trial. There are estimated to be over 2 million people in North America who suffer cognitive impairment related to schizophrenia according to Datamonitor. Second, Allon announced it has received funding from The Michael J. Fox Foundation for Parkinson's Research to evaluate the effectiveness of Allon's lead drug AL-108 in pre-clinical models of Parkinson's disease. If the evaluation is successful, Allon would be in a position to begin a Phase II clinical trial to evaluate the drug's effectiveness in Parkinson's patients as early as 2008. The market has responded well to these announcements, increasing the price of the shares of Allon by 75% over the price of our most recent investment in the company

About Advantage

Advantage offers everyone in BC the opportunity to invest in some of the Province's most promising life science, technology and clean-technology companies. Advantage investors receive a 30% refundable tax credit from the BC government on investments of up to $200,000 per year.

For more information about Advantage, please review our prospectus, visit our website at www.bcadvantagefunds.com or contact our Vice President, Sales and Marketing, Ray Matthews at rmatthews@lionscapital.com or 604.818.7778.

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