For Immediate Release: August 15, 2006

Burnaby, British Columbia, Canada – Chromos Molecular Systems Inc. (TSX: CHR) has taken several significant steps in the development of its lead product candidate, CHR-1103. A humanized monoclonal antibody, CHR-1103 is being developed for the acute treatment of relapsing forms of multiple sclerosis (MS). Its unique mechanism of action has the potential to reduce the severity of a relapse in patients with MS and also stem the residual neurological damage that often accompanies relapse and leads to progression of the disease.

Chromos recently completed its first meeting with officials from the U.S. Food and Drug Administration (FDA). The two parties discussed Chromos’ clinical approach, proposed preclinical safety evaluation program and manufacture of CHR-1103. Chromos is now moving forward with preclinical safety evaluation studies in preparation for an Investigational New Drug (IND) application in Q3 2007.

Using its proprietary ACE System, Chromos engineered a stable clonal cell line expressing its product, CHR-1103 and transferred it to AppTec for process development, scale up and manufacture. The ACE System demonstrated the ability to perform well in large-scale manufacturing, validating the use of the platform for clinical and commercial scale manufacturing of biopharmaceuticals. The Company is now preparing to begin its preclinical safety evaluation studies with Charles River Laboratories.

Chromos has engaged two leading MS clinicians to act as clinical consultants for its CHR-1103 program. Lily Jung, M.D. is the Medical Director of the Seattle Neuroscience Institute at Swedish Medical Centre in Seattle, WA, and a clinical associate professor in Neurology at the University of Washington Medical School. Mariko Kita, M.D. is a clinical investigator and Director of the Virginia Mason Multiple Sclerosis Center in Seattle, WA. Drs. Jung and Kita will advise and assist with the clinical development of CHR-1103 as it enters clinical trials.

About Chromos

Chromos is a biopharmaceutical company with two drug development programs focused on inflammatory diseases and thrombotic disorders. The Company's lead program, CHR-1103, is a humanized monoclonal antibody being developed as a treatment with an initial focus on the treatment of acute relapses associated with multiple sclerosis (MS). Chromos generates revenue from its proprietary ACE System technology to engineer production quality cell lines to manufacture biopharmaceutical products including monoclonal antibodies. For more information visit our website at www.chromos.com.

Risks and Uncertainties

Certain of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Chromos (the “Company”), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

To the extent possible, management implements strategies to reduce or mitigate the risks and uncertainties associated with the Company’s operations. Operating risks include (i) the continued availability of capital to finance the Company’s activities; (ii) the Company’s limited cash position, (iii) the ability to successfully obtain proof of the effectiveness of the Company’s technology (iv) the ability to complete and maintain corporate alliances relating to the development and commercialization of the Company’s technology; (v) the ability to obtain and enforce patent and other intellectual property protection for the Company’s technology; (vi) market acceptance of the Company’s technology; (vii) the competitive environment and impact of technological change; (viii) the Company’s ability to attract and retain employees to carry out its business plans and (ix) the timely development and commercialization of any technology or products that are contingent on the completion and maintenance of corporate alliances with third parties. Further details on Chromos’ operating risks can be found in the Company’s Quarterly and Annual Reports to Shareholders.

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FOR FURTHER INFORMATION:

Joseph Zendegui, Ph.D.
Vice President, Corporate Development
Tel: 604-415-7128
Email:jzendegui@chromos.com
Website: www.chromos.com

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