Upstream Biosciences Inc. ~ Press Releases

PRESS RELEASE - AUG 16th, 2007

UPSTREAM BIOSCIENCES ANNOUNCES SUPPLY AGREEMENT WITH ANALYTICAL BIOLOGICAL SERVICES, INC. FOR TISSUE SAMPLES FOR BIOMARKER VALIDATION
Agreement will Support Development of BioMarkers for Liver and Prostate Cancer

Vancouver, British Columbia– August 16, 2007– Upstream Biosciences Inc. (OTCBB: UPBS), today announced it has signed an agreement with Analytical Biological Services, Inc. (ABS), to supply tissue samples to further the development of the Upstream biomarker program. Pursuant to the agreement, ABS will specifically supply human tissue samples for both prostate and liver cancers, and ABS is positioned to supply the donor medical data, histological and pathological data when required. Upstream discovers and develops proprietary diagnostic and prognostic biomarkers to improve the early detection of certain cancers including prostate and liver, and to predict the individual patient response to specific treatments. Terms of the agreement were not disclosed.

“ABS has developed a large network of tissue sources that can be utilized to meet our needs and support our biomarker development efforts,” said Joel L. Bellenson, Upstream CEO. “We are pleased to have completed this agreement. We anticipate that securing a steady source of tissue samples will allow our programs to move ahead expeditiously.”

Charles F. Saller, Ph.D., CEO of ABS added: “We look forward to working with Upstream Biosciences to enable the rapid progress of their programs to validate their proprietary prostate and liver cancer biomarker candidates.”

Based in Wilmington, Delaware, ABS provides a full range of tissues, human cells, blood components, body fluids, and tissue-derived bioreagents for basic research, drug discovery, and biomarkers studies.

Upstream is developing diagnostic tests designed to aid in the early detection of cancer by identifying individuals with a high degree of susceptibility to the disease. The company is also developing genetic-based diagnostic tests to measure how individuals respond to specific drugs, enabling physicians to determine beforehand whether a therapy will be useful or harmful to the patient. A recent study in the Journal of the American Medical Association estimated that each year about 100,000 people die in the United States due to adverse reactions to prescription drugs.

For more information, please contact Samantha Haynes at 1-800-539-0289 or info@upstreambio.com.

Media Contact: GendeLLindheim BioCom Partners, Barbara Lindheim: Tel: 212- 918-4650

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About Upstream Biosciences Inc.
Upstream Biosciences Inc. is an emerging leader in the field of genetic diagnostics for cancer and the prediction of drug response founded in 2004. Upstream discovers, develops, and licenses genetic based diagnostics for cancer susceptibility and drug response. Upstream's proprietary data mining pipeline enables it to locate and analyze genetic variations in the regions of DNA 'upstream' of the gene, the 'gene switches,' which control the quantities and timing of expression of the genes, and proteins important to disease and drug response.

Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements”, as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) Upstream may become an emerging leader in the field of diagnostics for cancer and the prediction of drug response; (ii) the analysis conducted by Genpathway is intended to provide information to validate Upstream’s first two cancer biomarkers and drug response asssy; (iii) Genpathway will apply its assays to help elucidate critical parameters involving specific gene transcription factors and pathways; (iv) the agreement with Genpathway may allow Upstream to acquire in-depth information that is not available with other analytic methods; and (v) Upstream is developing diagnostic tests designed to aid in the early detection of cancer by identifying individuals with a high degree of susceptibility to the disease and genetic-based diagnostic tests to measure how individuals respond to specific drugs. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that Upstream does not execute its business plan; (ii) the inability of Upstream to keep pace with technological advancements in the field of genetic diagnostics; (iii) Upstream’s inability to adequately protect its intellectual property or Upstream’s inadvertent infringement of third party intellectual property; (iv) Upstream not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for Upstream’s products not developing as expected; (vii) Upstream’s inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market and commercialize Upstream’s technologies, including the establishment of viable relationships with third parties. These forward-looking statements are made as of the date of this news release and Upstream assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Upstream believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Upstream’s periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.

DISCLAIMER FOR HISTORICAL PRESS RELEASES AND SEC FILINGS
This section contains historical and archived press releases and SEC filings for Upstream Biosciences Inc. The information in these press releases and SEC filings is historical in nature, has not been updated, and is current only to the date indicated in the particular press release or SEC filing. This information may no longer be accurate and therefore you should not rely on the any information contained in these press releases or SEC filings and should refer to our latest press releases and SEC filings. To the extent permitted by law, Upstream Biosciences Inc. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.