Polydex Pharmaceuticals Receives Staff Deficiency Letter from Nasdaq

TORONTO, Jan. 22, 2008 (PRIME NEWSWIRE) -- Polydex Pharmaceuticals Limited
(Nasdaq:POLXF) announced today that on January 18, 2008, it received a Nasdaq
Staff Deficiency Letter from The Nasdaq Stock Market notifying it that the
Company's bid price per share for its common stock had closed below the $1.00
minimum bid price for 30 consecutive business days. As a result, Polydex no
longer meets the requirements of Marketplace Rule 4310(c)(4) for continued
listing on The Nasdaq Capital Market and has 180 calendar days, or until July
14, 2008, to regain compliance. During this 180-day period, Polydex shares will
continue to trade on The Nasdaq Capital Market.

To regain compliance, the closing bid price of the Company's common stock must
remain at or above $1.00 for a minimum of 10 consecutive business days prior to
the end of the 180 calendar day compliance period. If the Company does not
regain compliance by the end of the compliance period (or any extension thereof)
and chooses not to appeal the decision of The Nasdaq Stock Market to delist its
common stock, Polydex common stock will be delisted from The Nasdaq Capital
Market.

Polydex Pharmaceuticals Limited, based in Toronto, Ontario, Canada, is engaged
in the research, development, manufacture and marketing of biotechnology-based
products for the human pharmaceutical market, and also manufactures bulk
pharmaceutical intermediates for the worldwide veterinary pharmaceutical
industry.

The Polydex Pharmaceuticals Limited logo is available at
http://www.primenewswire.com/newsroom/prs/?pkgid=3414

Please visit the Company's website: www.Polydex.com.

Note: This press release may contain forward-looking statements, within the
meaning of the United States Securities Act of 1933, as amended, and the United
States Securities Exchange Act of 1934, as amended, regarding Polydex
Pharmaceuticals Limited. Actual events or results may differ materially from the
Company's expectations, which are subject to a number of known and unknown risks
and uncertainties including but not limited to changing market conditions,
future actions by the United States Food and Drug Administration or equivalent
foreign regulatory authorities as well as results of pending or future clinical
trials. Other risk factors discussed in the Company's filings with the United
States Securities and Exchange Commission may also affect the actual results
achieved by the Company.

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CONTACT: North Arm Capital Services
Investor Relations for Polydex Pharmaceuticals Limited:
Linda Hughes
1-877-945-1621
(Linda@northarm.com)