Glycominds Achieves CE MARK for Novel Crohn's Disease Blood Test; US Patent Office Grants GlycoChip Letters of Allowance

, Alon Bldg.S. gastrointestinal
prescriptions for rectal mesalamine were written for CANASA 500 mg, making
Axcan's CANASA 500 mg the most prescribed brand of rectal mesalamine in the
U.

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Since being founded in 1999, Glycominds has developed a portfolio
of complementary technologies which enable the reliable and accurate
study of protein-glycan interactions in a high-throughput and
cost-efficient way.

"Safe Harbor" statement under the Private Securities Litigation Reform
----- -----------------------------------------------------------------
Act of 1995.

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The company 's technology is breaking new ground with tests that can
predict the future activity of a patient 's condition. While the symptoms of IBS
patients can be controlled through dietary changes, inflammatory
patients require immediate pharmaceutical or surgical treatments.

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"The 1000 mg suppository is as
efficacious as the twice-a-day CANASA 500 mg suppository, but 1000 milligrams
once a day is easier for patients to use and should improve compliance.S.

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Business Editors/Health/Medical Writers

LOD, Israel----Glycominds announced
today that it has achieved the CE MARK of the EU for the marketing of
the company's IBDX(TM) products.

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About Chronic Gastrointestinal Diseases:

Worldwide 2-3 million patients each year visit doctors with
symptoms for various gastrointestinal conditions that include
cramping, abdominal pain, constipation and diarrhea.com

S.

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S.
"The once-a-day CANASA 1000 mg suppository offers a new treatment option
for patients with ulcerative proctitis," said Dr. and its subsidiaries.

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Nir Dotan, Glycominds'
CTO added: "The IBDX uses proprietary biomarkers with the unique
capability of being able to stratify Crohn's Disease patients
according to the location of the disease. This will enable doctors to
more readily identify and better treat patients with Crohn's Colitis,
a form of Crohn's Disease that is especially hard to diagnose.

ABOUT ULCERATIVE PROCTITIS

Ulcerative proctitis is a subgroup of ulcerative colitis, one of the most
common inflammatory bowel diseases.

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Glycominds is
developing personalized tests for Multiple Sclerosis, Anti-Phospolipid
Syndrome, Rheumatoid Arthritis and other diseases.

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This product line is a
significant advance over existing tests, offering a simple
non -invasive blood test with improved sensitivity and specificity. The combination of an industrial chip technology,
together with glycomics analysis and informatics capabilities, enables
the company to screen and discover novel biomarkers.

The name CANASA is a trademark of Axcan Pharma Inc .

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28 - Axcan Pharma
Inc.

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As a result, many expensive
and unnecessary diagnostics procedures are often performed, including
invasive image analysis, often involving hospitalization and repeat
doctor visits, (The costs for Irritated Bowel Syndrome patients alone
were $1.). Despite the large number of
presenting patients, only about 150,000 are eventually diagnosed with
one of the inflammatory conditions (Crohn's Disease or Ulcerative
Colitis). ("Axcan" or the "Company") announced today the launch of CANASA 1000 mg,
the only FDA approved once-daily mesalamine suppository for the treatment of
ulcerative proctitis.

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The
IBDX(TM) kits have nearly 80 percent sensitivity compared to the 50
percent level common in existing tests.glycominds. Axcan markets a broad line of prescription products sold
for the treatment of symptoms in a number of gastrointestinal diseases and
disorders such as irritable bowel disorder, irritable bowel syndrome,
cholestatic liver diseases and complications related to cystic fibrosis.

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"For the first time there is now a highly-reliable way for doctors
to test patients presenting with the very similar symptoms that occur
in chronic gastrointestinal conditions ," said Avinoam Dukler,
Glycominds CEO. Miguel Regueiro, Associate
Professor of Medicine and Co -Director of the Inflammatory Bowel Disease Center
at the University of Pittsburgh Medical Center ."
In the United States, the rectal mesalamine market is valued at
approximately U.S.

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7 billion in 2000 in the U.com
or contact Avinoam Dukler, CEO
Glycominds Ltd.

Axcan Launches CANASA 1000 mg in the U.S.

Axcan received a three-year marketing exclusivity for
the new dosage form under the non-patent exclusivity provisions of the Federal
Food, Drug and Cosmetic Act. According to IMS Health data
published in December 2004, approximately 56% of all U.

ABOUT AXCAN PHARMA

Axcan is a leading specialty pharmaceutical company involved in the field
of gastroenterology .

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In addition, using two
different IBDX(TM) markers together increases specificity to 99
percent ."
The IBDX(TM) is the first in a series of cutting-edge blood tests
for autoimmune and chronic inflammatory diseases that Glycominds is
developing based on the company's proprietary glycomics technology.
Axcan's products are marketed by its own sales force in North America and
Europe.

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"
Commenting on the improvement that the IBDX is expected to make in
the treatment of Crohn's Disease patients, Dr.

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"We expect the IBDX(TM) to revolutionize the way in
which these conditions are diagnosed ., Global Park
Lod 71291 Israel
T: +972 8 918 1080 F: +972 8 918 1081
dukler@glycominds. Actual results could differ
materially from those projected herein and depend on a number of factors
including but not limited to risks and uncertainties, which may include
acceptance and demand for new pharmaceutical products, the impact of
competitive products and pricing, new product development and launch,
reliance on key strategic alliances, availability of raw materials, the
regulatory environment, fluctuations in operating results and other risks
detailed from time to time in the Company's filings with the Securities
and Exchange Commission and under the Canadian Multijurisdictional
Disclosure System.

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Given the
similarity of the symptoms, it is often difficult for doctors to
distinguish Ulcerative Colitis from Crohn's Disease , Irritable Bowel
Syndrome and other intestinal disorders.S.

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The GlycoChip(R) recently received Notices of Allowance from
the U. It is crucial to diagnose the inflammatory patients as early
as possible in order to treat them better.
1 Yodfat St." Forward-looking statements
are subject to risks and uncertainties .

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TSX SYMBOL (Toronto Stock Exchange): AXP
Nasdaq SYMBOL (Nasdaq National Market): AXCA

MONT SAINT-HILAIRE, Quebec, Feb. In approximately 30% of patients with
ulcerative colitis, the illness begins as ulcerative proctitis where bowel
inflammation is limited to the rectum .

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The IBDX kit is a series of blood
tests for Crohn's Disease, enabling differential diagnosis between
Crohn's Disease, Ulcerative Colitis and Irritable Bowel Syndrome.
The company's gMS(TM) product for Multiple Sclerosis is expected
to be a high-value diagnostics and prognostic test to stratify MS
patients and assist physicians in selecting the appropriate treatment.
The goal is to enable earlier diagnosis of Multiple Sclerosis and
predict whether patients will have clinical or sub-clinical events
within the coming months. Patent Office for two major patents that protect this unique
technology . $82 million annually.

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At the core of Glycominds' proprietary biomarker discovery engine
is the GlycoChip(R) - an array of diverse glycan molecules covalently
attached to a solid surface.

For more information visit www. Currently, it is estimated that there
are approximately 1,000,000 cases of inflammatory bowel disease in the U.
with approximately 400,000 new cases every year. Its common shares are listed on the Toronto Stock Exchange under the
symbol "AXP" and on the NASDAQ National Market under the symbol "AXCA".
------------

This press release contains forward-looking statements, which reflect the
Company's current expectations regarding future events.

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This technology is used to identify
interactions between the glycans on the chip and antibodies in
solution. To the extent any
statements made in this release contain information that is not
historical , these statements are essentially forward looking and are
often identified by words such as "anticipate," "expect," "estimate,"
"should," "project," "plan," and "believe.

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