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Thursday June 20, 10:20 am Eastern Time

Press Release

SOURCE: Hemosol Inc.

Hemosol Receives Key U.S. Patent Approval

TORONTO, June 20 /CNW/ - Hemosol Inc. (NASDAQ: HMSL, TSE: HML, HML.WT)
today announced that it has received a Notice of Allowance from the United States Patent and Trademark Office for the
Company`s patent application entitled "Hemoglobin-Haptoglobin Complexes". The U.S. patent is the first to be allowed for this
invention with several additional applications pending in other countries including Canada. The "Hemoglobin-Haptoglobin
Complexes" patent family covers products and methods for the targeted delivery of drugs and bioactive molecules via
hemoglobin-haptoglobin complexes that are being developed under the HepSelect(TM) platform.

"This patent will strengthen Hemosol`s portfolio of drug delivery patents and will play a key role in our strategy to accelerate the
commercial development of Hemosol`s pipeline products and maintain valuable competitive advantages," said Dr. David Bell,
Vice President of Drug Development at Hemosol. "To enhance our progress we are actively pursuing financial partnerships that
will provide the resources necessary to bring these exciting new product candidates to market."

The hemoglobin-based drug delivery patent portfolio also includes patents covering the attachment of drugs and imaging agents
to hemoglobin ("Hemoglobins as Drug Delivery Agents"). The Company regards its strong Intellectual Property position as a
key element in its ultimate commercial success by providing market exclusivity for 20 years after filing. The HepSelect(TM)
platform technology is designed to allow therapeutic drugs to be concentrated in receptor-bearing cells while protecting other
cells from drug toxicity. The HepSelect(TM) platform should enable a wide variety of drugs that are otherwise unstable, rapidly
cleared or unsuitable for systemic administration to be used to treat viral diseases and cancers of the liver.

Hemosol is actively developing a rich pipeline of platform technologies and new product candidates. The Company`s Protein
Bioconjugation program includes a hemoglobin-based oxygen therapeutic with potential application in high volume blood loss
situations (HRC 101), an oxygen therapeutic (HRC 102) designed to prevent oxidative damage during tissue reperfusion and
the HepSelect(TM) drug delivery platform with potential use for treatment of liver diseases (HRC 203 and HRC 204). In the
Cell Expansion program, Hemosol`s scientific team has developed methods to produce hemoglobin from cultured cells, as well
as a promising cell therapy that could be used to augment current cancer treatment. The Company is also active in the
identification and characterization of new factors controlling blood cell growth.

About Hemosol Inc.

Hemosol is a near-term, commercial-stage biopharmaceutical company focused initially on developing life-sustaining therapies
for the treatment of acute anemia resulting from hemoglobin deficiencies. Hemosol has a broad range of products in
development, including its flagship product HEMOLINK(TM) (hemoglobin raffimer), an oxygen therapeutic, that is designed to
rapidly and safely improve oxygen delivery to the circulatory system. HEMOLINK is currently being evaluated in late-stage
clinical trials. The Company`s pipeline includes several new product candidates designed to address major markets with unmet
medical needs including transfusion medicine, tissue reperfusion, oncology and infectious disease indications based upon its
protein bioconjugation and cell expansion technologies.

For more information visit Hemosol`s website at www.hemosol.com.

Hemosol Inc.`s common shares are listed on The NASDAQ Stock Market under the trading symbol "HMSL" and on the
Toronto Stock Exchange under the trading symbol "HML".

HEMOLINK(TM) and HepSelect(TM) are trademarks of Hemosol Inc.


Certain statements concerning Hemosol`s future prospects are "forward-

looking statements" under the United States Private Securities Litigation
Reform Act of 1995. There can be no assurances that future results will be
achieved, and actual results could differ materially from forecasts and
estimates. Important factors that could cause actual results to differ
materially from forecasts and estimates include, but are not limited to:
Hemosol`s ability to obtain regulatory approvals for its products; Hemosol`s
ability to successfully complete clinical trials for its products; technical
or manufacturing or distribution issues; the competitive environment for
Hemosol`s products; the degree of market penetration of Hemosol`s products;
and other factors set forth in filings with Canadian securities regulatory
authorities and the U.S. Securities and Exchange Commission. These risks and
uncertainties, as well as others, are discussed in greater detail in the
filings of Hemosol with Canadian securities regulatory authorities and the
U.S. Securities and Exchange Commission. Hemosol makes no commitment to revise
or update any forward-looking statements in order to reflect events or
circumstances after the date any such statement is made.

For further information

Jason Hogan, Investor & Media Relations, [phone], 800-789-3419, [phone] fax,
[e-mail], www.hemosol.com
Paul Truscott, Associate Director, Business Development, Hemosol Inc., [phone],
[e-mail]
Archived images on this organization are available through CNW E-Pix at http://www.newswire.ca. Images are
free to members of The Canadian Press. To request a free copy of this organization`s annual report, please go to
http://www.newswire.ca and click on reports@cnw.

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Related News Categories: biotech, medical/pharmaceutical


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[paucius]

Thursday June 20, 11:06 am Eastern Time

Reuters Company News
Hemosol patent application wins U.S. approval

TORONTO, June 20 (Reuters) - Hemosol Inc. (Toronto:HML.TO - News; NasdaqNM:HMSL
- News) said on Thursday its patent application involving the use of hemoglobin-haptoglobin
complexes has won approval from U.S. authorities.

The Toronto-based biopharmaceutical company said the U.S. patent is the
first to be allowed for this invention, with several additional applications
pending in other countries, including Canada.

The firm said the "Hemoglobin-Haptoglobin Complexes" patent family
covers products and methods for the targeted delivery of drugs and
bioactive molecules via hemoglobin-haptoglobin complexes.

"This patent will strengthen Hemosol`s portfolio of drug delivery patents and
will play a key role in our strategy to accelerate the commercial
development of Hemosol`s pipeline products and maintain valuable
competitive advantages," Hemosol vice president of drug development
David Bell said in a statement.

"To enhance our progress we are actively pursuing financial partnerships
that will provide the resources necessary to bring these exciting new product
candidates to market."

Hemosol shares jumped following the news, rising 36 Canadian cents, or almost 16 percent, to C$2.66 in Toronto. On Nasdaq the
stock rose 26 cents to $1.78.

($1=$1.53 Canadian)

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More Quotes and News:
Hemosol Inc (NasdaqNM:HMSL - News; Toronto:HML.TO - News)
Related News Categories: biotech, health care, medical/pharmaceutical


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