AltaRex Corp will apply its antigen- targeted antibody approach to the treatment of chronic hepatitis B

[Guest guest]

AltaRex Technology Platform Extended to Infectious Disease

February 9, 2001

----------------------------------------------------------------------------

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via NewsEdge Corporation -

Collaboration with World Renowned Hepatitis Researcher Initiated --

WALTHAM, Mass., Feb. 8 /PRNewswire/ -- AltaRex Corp. (Toronto: AXO., OTC:

ALXFF) announced today that it will apply its antigen- targeted antibody

approach to the treatment of chronic hepatitis B. The Company's scientists

will conduct proof of concept experiments in its laboratories in

collaboration with Lorne Tyrrell, MD, PhD, of the University of Alberta, a

world-renowned expert in the research and treatment of hepatitis.

(Photo: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO )

Dr. Tyrell's post-doctoral work in virology at the Karolinska Institute in

Stockholm led him on a 20-year odyssey to develop new approaches to the

treatment of hepatitis. He has won numerous awards for his work in the field

and in 1998 he won the Prix Galien Canada Medal for Research.

Dr. Tyrrell's lab was instrumental in the development of lamivudine, one of

the mainstays of today's anti-viral therapy for hepatitis B.

" We believe that if we can find a way to up-regulate the immune response to

the antigen, then we may clear the infection in the vast majority of chronic

carriers by using immunotherapy in combination with currently available

anti-viral therapies, " commented Dr. Tyrrell. " The trick continues to be to

find a reliable way to up-regulate the immune response. With its novel

antigen-targeted antibody approach, AltaRex has now demonstrated an ability

to trigger the immune system to recognize and attack specific cancer

antigens and the associated disease -- antigens that the immune system is

not effectively recognizing. We believe that hepatitis B could be amenable

to the AltaRex approach. "

Over 350 million people worldwide are infected with hepatitis B. In the

acute or active stage, the immune system is still capable of recognizing and

attacking the hepatitis B virus (HBV) and there is considerable success in

treating patients. However in the chronic form of the disease, the immune

system frequently does not recognize HBV, and there is a real possibility of

developing severe liver complications. Ten percent of adults diagnosed with

hepatitis B become chronic carriers and between 5% and 25% of these develop

liver cancer, making HBV a leading cause of liver cancer worldwide. In the

United States alone, over 1.25 million people are infected with HBV. The

objective of treating HBV infection is to clear the infection and prevent

the long-term complications associated with the disease.

With a planned Biologics License Application filing for OvaRex® MAb at

year-end 2001 in the United States, and advancing clinical trials of its

other anti-cancer antibodies, such as BrevaRex® MAb for multiple myeloma,

the Company is now committed to exploring other disease areas with its

patented technology. This announcement represents an important step toward

development of proprietary antibodies for the treatment of a chronic

infectious disease.

AltaRex Corp. is focused on the research, development and commercialization

of five antigen-targeted monoclonal antibodies to treat late-stage cancers.

OvaRex® MAb targets the tumor associated antigen CA 125 and is in the

final stages of clinical evaluation for ovarian cancer with

commercialization expected in the United States in 2002. Clinical data

reported to date, in OvaRex® MAb responders, evidence a prolongation in

time to relapse and/or survival in the watchful waiting and recurrent

disease indications of ovarian cancer. BrevaRex® MAb targets the tumor

associated antigen MUC1 and has successfully completed a Phase I safety and

immunology study. The Company expects to initiate a Phase I/II clinical

study of BrevaRex® MAb for the treatment of multiple myeloma in this year.

Additional information about AltaRex research and development, news and

events can be found on its web site at www.altarex.com. Clinical information

can also be found at www.centerwatch.com. Additional information about

ovarian cancer can be found at www.nci.nih.gov, www.ovariancanada.org and at

www.ovarian.org.

This news release contains forward-looking statements that involve risks and

uncertainties, which may cause actual results to differ materially from the

statements made. For this purpose, any statements that are contained herein

that are not statements of historical fact may be deemed to be forward-

looking statements. Without limiting the foregoing, the words " believes, "

" anticipates, " " plans, " " intends, " " expects " and similar expressions are

intended to identify forward-looking statements. Such risks and

uncertainties include, but are not limited to our need for capital and the

risk that the Company can not raise funds on a timely basis on satisfactory

terms or at all, changing market conditions, completion of clinical trials,

patient enrollment rates, uncertainty of pre-clinical, retrospective and

early clinical trial results, which may not be indicative of results that

will be obtained in ongoing or future clinical trials, the establishment of

manufacturing processes and new corporate alliances, the timely development,

regulatory approval and market acceptance of the Company's products,

uncertainty as to whether patents will issue from pending patent

applications and, if issued, as to whether such patents will be sufficiently

broad to protect the Company's technology, and other risks detailed from

time-to-time in the Company's filings with the United States Securities and

Exchange Commission and Canadian securities authorities.

THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE

INFORMATION CONTAINED HEREIN.

SOURCE AltaRex Corp.

CONTACT: Sondra Henrichon, Director, Investor Relations and Corporate

Communications of AltaRex Corp., 781-672-0138, ext. 5110,

shenrichon@...; or Wayne Hendry, Investor Relations of The Equicom

Group, Inc, 416-815-0700, ext. 238, whendry@...; or

, Investor Relations of The Trout Group, 212-477-9007, ext. 15

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO AP

Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or

201-369-3467

Company News On-Call: http://www.prnewswire.com/comp/128163.html or fax,

800-758-5804, ext. 128163

Web site: http://www.altarex.com (AXO. ALXFF

[Guest guest]

AltaRex Technology Platform Extended to Infectious Disease

February 9, 2001

----------------------------------------------------------------------------

----

via NewsEdge Corporation -

Collaboration with World Renowned Hepatitis Researcher Initiated --

WALTHAM, Mass., Feb. 8 /PRNewswire/ -- AltaRex Corp. (Toronto: AXO., OTC:

ALXFF) announced today that it will apply its antigen- targeted antibody

approach to the treatment of chronic hepatitis B. The Company's scientists

will conduct proof of concept experiments in its laboratories in

collaboration with Lorne Tyrrell, MD, PhD, of the University of Alberta, a

world-renowned expert in the research and treatment of hepatitis.

(Photo: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO )

Dr. Tyrell's post-doctoral work in virology at the Karolinska Institute in

Stockholm led him on a 20-year odyssey to develop new approaches to the

treatment of hepatitis. He has won numerous awards for his work in the field

and in 1998 he won the Prix Galien Canada Medal for Research.

Dr. Tyrrell's lab was instrumental in the development of lamivudine, one of

the mainstays of today's anti-viral therapy for hepatitis B.

" We believe that if we can find a way to up-regulate the immune response to

the antigen, then we may clear the infection in the vast majority of chronic

carriers by using immunotherapy in combination with currently available

anti-viral therapies, " commented Dr. Tyrrell. " The trick continues to be to

find a reliable way to up-regulate the immune response. With its novel

antigen-targeted antibody approach, AltaRex has now demonstrated an ability

to trigger the immune system to recognize and attack specific cancer

antigens and the associated disease -- antigens that the immune system is

not effectively recognizing. We believe that hepatitis B could be amenable

to the AltaRex approach. "

Over 350 million people worldwide are infected with hepatitis B. In the

acute or active stage, the immune system is still capable of recognizing and

attacking the hepatitis B virus (HBV) and there is considerable success in

treating patients. However in the chronic form of the disease, the immune

system frequently does not recognize HBV, and there is a real possibility of

developing severe liver complications. Ten percent of adults diagnosed with

hepatitis B become chronic carriers and between 5% and 25% of these develop

liver cancer, making HBV a leading cause of liver cancer worldwide. In the

United States alone, over 1.25 million people are infected with HBV. The

objective of treating HBV infection is to clear the infection and prevent

the long-term complications associated with the disease.

With a planned Biologics License Application filing for OvaRex® MAb at

year-end 2001 in the United States, and advancing clinical trials of its

other anti-cancer antibodies, such as BrevaRex® MAb for multiple myeloma,

the Company is now committed to exploring other disease areas with its

patented technology. This announcement represents an important step toward

development of proprietary antibodies for the treatment of a chronic

infectious disease.

AltaRex Corp. is focused on the research, development and commercialization

of five antigen-targeted monoclonal antibodies to treat late-stage cancers.

OvaRex® MAb targets the tumor associated antigen CA 125 and is in the

final stages of clinical evaluation for ovarian cancer with

commercialization expected in the United States in 2002. Clinical data

reported to date, in OvaRex® MAb responders, evidence a prolongation in

time to relapse and/or survival in the watchful waiting and recurrent

disease indications of ovarian cancer. BrevaRex® MAb targets the tumor

associated antigen MUC1 and has successfully completed a Phase I safety and

immunology study. The Company expects to initiate a Phase I/II clinical

study of BrevaRex® MAb for the treatment of multiple myeloma in this year.

Additional information about AltaRex research and development, news and

events can be found on its web site at www.altarex.com. Clinical information

can also be found at www.centerwatch.com. Additional information about

ovarian cancer can be found at www.nci.nih.gov, www.ovariancanada.org and at

www.ovarian.org.

This news release contains forward-looking statements that involve risks and

uncertainties, which may cause actual results to differ materially from the

statements made. For this purpose, any statements that are contained herein

that are not statements of historical fact may be deemed to be forward-

looking statements. Without limiting the foregoing, the words " believes, "

" anticipates, " " plans, " " intends, " " expects " and similar expressions are

intended to identify forward-looking statements. Such risks and

uncertainties include, but are not limited to our need for capital and the

risk that the Company can not raise funds on a timely basis on satisfactory

terms or at all, changing market conditions, completion of clinical trials,

patient enrollment rates, uncertainty of pre-clinical, retrospective and

early clinical trial results, which may not be indicative of results that

will be obtained in ongoing or future clinical trials, the establishment of

manufacturing processes and new corporate alliances, the timely development,

regulatory approval and market acceptance of the Company's products,

uncertainty as to whether patents will issue from pending patent

applications and, if issued, as to whether such patents will be sufficiently

broad to protect the Company's technology, and other risks detailed from

time-to-time in the Company's filings with the United States Securities and

Exchange Commission and Canadian securities authorities.

THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE

INFORMATION CONTAINED HEREIN.

SOURCE AltaRex Corp.

CONTACT: Sondra Henrichon, Director, Investor Relations and Corporate

Communications of AltaRex Corp., 781-672-0138, ext. 5110,

shenrichon@...; or Wayne Hendry, Investor Relations of The Equicom

Group, Inc, 416-815-0700, ext. 238, whendry@...; or

, Investor Relations of The Trout Group, 212-477-9007, ext. 15

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO AP

Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or

201-369-3467

Company News On-Call: http://www.prnewswire.com/comp/128163.html or fax,

800-758-5804, ext. 128163

Web site: http://www.altarex.com (AXO. ALXFF