Adherex Announces a New Corporate Direction for the Company

RESEARCH TRIANGLE PARK, NORTH CAROLINA, Jul 07 (MARKET
WIRE) --
Adherex Technologies Inc. (TSX: AHX) announced today, the Company has
decided to focus its remaining resources on the development of
eniluracil. This decision was reached after careful evaluation of the
existing portfolio. The new clinical plan will be led by Dr. Thomas
Spector, the principal inventor of the eniluracil / 5-fluorouracil cancer
treatment while working at Burroughs Wellcome Laboratories 20 years ago.
Consistent with this new direction the company is announcing the
following management and Board of Directors changes:

Mr. Robert Butts, a principal of Southpoint Capital, LP, which is the
company largest shareholder, was appointed as the new Chairman of the
Board. Mr. Butts commented, "The Board and management are enthusiastic
about the new focus of the company and the potential market opportunity
for eniluracil."

Mr. Rosty Raykov, an existing shareholder, was appointed as the new Chief
Executive Officer and member of the Board. Mr. Raykov is also a General
Partner at DCML, a private investment partnership. Prior to joining DCML,
Mr. Raykov was a General Partner of Alchem Investment Partners
(2006-2007), an event driven hedge fund. Prior to founding Alchem, Mr.
Raykov was a portfolio manager and securities analyst for John A. Levin &
Co. Event Driven Fund (2002-2005). Prior to joining John A. Levin & Co.,
Mr. Raykov was a securities analyst for the Merger Fund at Tiedemann
Investment Group (1999-2002) and an investment banking analyst at Bear
Stearns (1998-1999). Mr. Raykov earned a B.S. in Business Administration
from the University of North Carolina at Chapel Hill.

Mr. Raykov commented, "I am elated that after 15 years, the future
development of eniluracil will once again be overseen by Dr. Spector."

Mr. Robert Andrade, an existing shareholder, was appointed as a Vice
President and member of the Board. Mr. Andrade is a General Partner at
DCML, a private investment partnership. Prior to joining DCML, Mr.
Andrade was a portfolio manager and securities analyst for Millennium
Partners L.P. (2006-2007). Prior to joining Millennium Partners L.P., Mr.
Andrade was a securities analyst for the Event Driven Fund at Caxton
Associates LLC (2003-2005). Prior to Caxton Associates LLC, Mr. Andrade
was a private equity associate at Trimaran Capital Partners (2000-2003)
and an investment banking analyst at Bear Stearns (1997-1999). Mr.
Andrade earned a M.A. and B.A. in Economics from the University of
Southern California.

Dr. Thomas Spector was appointed as the new Chief Scientific Officer. He
is President of Spector Consulting Services. Dr. Spector is the principal
inventor of the eniluracil / 5-fluorouracil treatment. In 2004, Dr.
Spector discovered why the dosing regimen in Glaxo's Phase III clinical
trial was not optimal. Dr. Spector has authored and co-authored many
scientific articles on eniluracil / 5-fluorouracil. He has over 35 years
experience in drug discovery and development and was The International
Vice President of Cancer Research at GlaxoWellcome (now GSK). Dr. Spector
received a Ph.D. in Pharmacology from Yale University.

Dr. Spector commented, "I am excited to be working with the new team to
advance the development of eniluracil / 5-fluorouracil. When administered
correctly, this therapy has potential to bring significant benefit to
cancer patients."

Dr. William Peters has resigned as Chairman of the Board and as Chief
Executive Officer. In addition to Dr. Peters, the following Board
members' resignations have been accepted by the company: Dr. Robin
Norris, Dr. Fred Mermelstein, Dr. Donald Kufe, Mr. Michael Martin, and
Dr. Peter Morand. The company would like to thank these individuals for
their years of contribution and service.

The new Board of Directors will consist of the following members:
continuing directors, Mr. Robert Butts, Dr. Arthur Porter, Mr. Claudio
Bussandri, and Mr. William Breen, new directors, Mr. Robert Andrade and
Mr. Rosty Raykov.

With the exception of Dr. Peters' resignation and the additions of
Messrs. Raykov and Andrade, and Dr. Spector, the management team remains
unchanged at this time.

About Adherex Technologies

Adherex Technologies Inc. is a biopharmaceutical company focused on the
development of eniluracil and 5-fluorouaricil. For more information,
please call Rosty Raykov at 919-536-3105.

This press release contains forward-looking statements that involve
significant risks and uncertainties. Actual results might differ
materially from those expressed or implied by such forward-looking
statements. Such forward-looking statements include, without limitation,
those regarding our development plans and the expected funding or other
transactions, timing and results of our development as well as our
efforts to pursue strategic alternatives. We can provide no assurance
that development will proceed as currently anticipated, that previous
results will be predictive of future outcomes, that the expected funding,
timing or results of our development will be realized, or that we will be
able to form strategic collaborations or partnerships with other
companies. We are subject to various risks, including our near term need
for additional capital to fund our operations, risks associated with
transition of management, current and anticipated conditions in the
economy and financial markets, our history of losses, our ability to
continue to meet the listing requirements of the TSX, the uncertainties
of clinical trials, drug development and regulatory review, the early
stage of our product candidates, our reliance on collaborative partners,
and other risks inherent to the biopharmaceutical industry. For a more
detailed discussion of related risk factors, please refer to our public
filings available at www.sedar.com and www.sec.gov.

Contacts:
Adherex Technologies Inc.
James A. Klein, Jr.
Chief Financial Officer
919-484-8484
919-484-8001 (FAX)
Kleinj@adherex.com
www.adherex.com

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