For immediate release: July 09, 2007

Vancouver, BC – Tekmira Pharmaceuticals Corporation ("Tekmira"; TSX:TKM) announced today that Market Regulation Services, on behalf of the Toronto Stock Exchange, has requested the Company comment on the recent activity in the shares of Tekmira. There are no new corporate developments at the Company.

The Company, however, notes that one of its partners, Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) announced today that it entered into a major alliance with Roche that highlights Alnylam’s leadership position in the discovery and development of RNA interference (RNAi) therapeutics. The Alnylam announcement can be accessed from the Alnylam website at www.alnylam.com. Tekmira and Alnylam announced on January 9, 2007 the signing of a strategic alliance whereby Alnylam gained access to Tekmira’s liposomal delivery formulation technology through a worldwide exclusive license for the discovery, development, and commercialization of RNAi therapeutics.

Liposomal and/or lipid nanoparticle formulations are important technologies for systemic delivery of RNAi therapeutics. Tekmira’s intellectual property estate is comprised of certain key, issued patents, such as those derived from the Wheeler and Semple patent series (U.S. Patent Nos. 5,976,567, 6,815,432, and 6,858,225), that are considered important for the development and commercialization of liposomal and/or lipid nanoparticle formulations of oligonucleotide therapeutics, including small interfering RNAs (siRNAs), the molecules that mediate RNAi.

About Tekmira

Tekmira Pharmaceuticals Corporation is a Canadian biopharmaceutical company developing and commercializing proprietary drugs and drug delivery systems to improve the treatment of cancer. Further information about Tekmira and this news release can be found at www.tekmirapharm.com.

Forward Looking Statements

There are forward-looking statements and information contained herein that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimate," "continue," "anticipates," "intends," "expects," and similar expressions, and the negative of such expressions. Such forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements and information. Such factors include, among others, Tekmira’s stage of development, lack of product revenues, additional capital requirements, risks associated with the completion of clinical trials and obtaining regulatory approval to market Tekmira’s products, the ability to protect its intellectual property and dependence on collaborative partners. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements or information. Tekmira disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or information contained herein to reflect future results, events or developments, except as required by law.

Contact Information for Tekmira Pharmaceuticals Corporation

Investors

Ian Mortimer
Senior Vice President, Finance and Chief Financial Officer
Phone: 604-419-3200

Media

Nicole Rizgalla
James Hoggan & Associates Inc.
Phone: 604-742-4268
Email: nrizgalla@hoggan.com

The common shares of Tekmira are traded on the Toronto Stock Exchange under the trading symbol "TKM".