Thallion Common Shares to Commence Trading on the TSX-V as of December 12, 2012

MONTRÉAL, QUÉBEC--(Marketwire - Dec. 11, 2012) - Thallion Pharmaceuticals Inc. (TSX:TLN) ("Thallion" or the "Company") today announced that it has received notice from the TSX Venture Exchange (the "TSX-V") that Thallion's common shares will commence trading on the TSX-V at the opening of market on December 12, 2012. Thallion's common share trading symbol ("TLN") will remain unchanged.

This announcement follows a previous announcement made by Thallion on December 4, 2012 relating to the conditional approval obtained from the TSX-V to list its common shares on the TSX-V and Thallion's application for a voluntary delisting of its common shares from the TSX.

Thallion's common shares will be delisted from the TSX and listed concurrently on the TSX-V at the close of business (5:01 p.m. EST) on Tuesday, December 11, 2012.

About Thallion Pharmaceuticals Inc.

Thallion Pharmaceuticals Inc. is a biotechnology company developing pharmaceutical products in the areas of infectious disease and oncology. The Company's clinical programs include Shigamabs® and TLN-4601, a novel anti-cancer therapy. Shigamabs® is a dual antibody product being evaluated in a Phase II clinical trial for the treatment of Shiga toxin-producing E. coli bacterial infections. Additional information about Thallion can be obtained at www.thallion.com.

Forward-Looking Statements

This press release contains certain forward-looking statements, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and other similar expressions which constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements reflect Thallion's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, the satisfaction of the conditions to maintain its listing on the TSX-V. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Thallion undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws.