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This stock has been holding .145 - .165 this week after going up from the .11 range. its been consistent and might be ready to progress further up ward

MONTREAL, Jan. 12 /CNW Telbec/ - (TSX.V: BUG). Biophage Pharma Inc. ("Biophage") announced today that it has appointed Raymond Chabot Grant Thornton LLP ("RCGT") as its auditor to perform the corporation's audit of its annual financial statements for the year ended November 30, 2006. Ernst & Young LLP and Biophage have decided, by mutual agreement, to end their business relationship effective January 5, 2007. There was no disagreement or other reportable event associated with this change of auditor.

"On behalf of the shareholders, we wish to thank Ernst & Young for their contribution to Biophage over the past few years. As a result of our regular internal review practices, and in line with Biophage managements' stated goal of streamlining operations in order to maximize shareholder value, the decision was made to engage the services of RCGT as our new auditors. RCGT will play a key role at Biophage, helping us to navigate the complexities and ever changing disclosure requirements of the regulatory agencies and other players in the governance process." said Dr Mandeville, Biophage's President and CEO.

About Biophage Pharma Inc.

Biophage Pharma is a high potential, revenue-driven Canadian biotechnology company focused on the development of innovative phage-based products and technologies for the detection and management of bacterial contaminations. Founded in 1995, Biophage operates three divisions: (1) The Therapeutic division for the management of bacterial contaminations in the medical, veterinary and environmental fields; (2) The Biosensors division for the development and commercialization of new diagnostic products, more particularly a compact PDS96(R) Biosensor which is entering in the pre-commercialization stage; (3) The Immunotox Labs division, which provides services in Immunogenicity and Immunotoxicity, Nanotoxicity and Ecotoxicology, Beryllium sensitivity testing and MELISA(R) testing for the detection of sensitization to more than 200 different allergens including metals, penicillin, gluten and pollens.

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