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Osteologix to Present at Biotech Showcase 2010

Glen Allen, VA¡XJanuary 11, 2010--Osteologix, Inc. (OTCBB: OLGX) today announced that Philip J. Young, President and CEO of Osteologix, will present a corporate overview and update at the Biotech Showcase 2010 being held this week at the Marines¡¦ Memorial Club & Hotel in San Francisco. Mr. Young will highlight the company¡¦s latest developments on Wednesday, January 13, at 1:40 pm (PST) in the Crystal Lounge. The live audio webcast and slide presentation can be accessed by visiting www.osteologix.com and clicking the link provided under ¡§Latest News¡¨. There will be a replay of the webcast available 24 hours after the live presentation and it will be accessible for 30 days.

About Osteologix:
Osteologix is a specialty pharmaceutical company committed to developing innovative therapies for the treatment and prevention of diseases of bone and joint tissues. Its lead product candidate, NB S101, is a novel pharmaceutical agent for the treatment and prevention of osteoporosis. Osteologix has completed a Phase II clinical trial of NB S101 that demonstrated the ability of NB S101 to reduce markers of bone resorption and increase bone mineral density and also included a comparison of NB S101 (strontium malonate) to Protelos® (strontium ranelate), marketed by Les Laboratoires Servier. Osteologix¡¦s strategy is to develop its once-daily strontium tablet for the osteoporosis market by entering into Development and Marketing partnerships with regional or global pharmaceutical companies. The Company currently believes that it should be able to obtain regulatory approval and launch the product in Europe in early 2012 and on a later date in the United States and Japan.

Safe Harbor Statement:
To the extent that statements in this press release are not strictly historical, all such statements are forward looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the anticipated closing of the financing described in this press release, and statements about the potential development of NB S101, Osteologix¡¦s ability to enter into development and marketing partnerships or the ability of the company or its development partners to obtain regulatory approval. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or assumed in such forward looking statements, including, without limitation, uncertainties about the closing of the financing, our ability to raise sufficient capital to continue development of NB S101; our ability to enter into development and marketing partnership agreements with third parties or of such third parties to obtain regulatory approval for NB S101; our or any third party licensee¡¦s ability to reach agreement with the United States Food & Drug Administration regarding the design of our Phase III clinical trials for NB S101; our ability to conduct and successfully complete clinical trials of NB S101 and obtain approval to market this product; potential success and introduction of competing products; effectiveness of our efforts to protect our intellectual property rights; decisions made by holders of third party patent rights; listing standards of national stock exchanges; general economic conditions; changes in government regulations and administrative procedures; changes in our business strategy; fluctuations of interest rates and credit markets. Additional factors that could cause actual results to differ materially are included under the heading ¡§Risk Factors¡¨ in Part I, Item 1A of our Annual Report on Form 10 K. All forward looking statements and risk factors included in this document are made as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward looking statement or risk factor. You should consult the risk factors listed in our Annual Report on Form 10 K and from time to time in our Quarterly Reports on Form 10 Q.

For more information on the Biotech Showcase 2010 please visit: http://www.ebdgroup.com/bts/program.htm