News release via Canada NewsWire, Toronto 416-863-9350

    Attention Business Editors:
    Lorus Therapeutics completes reorganization resulting in non dilutive
    financing

    TORONTO, July 10 /CNW/ - Lorus Therapeutics Inc. (TSX: LOR; AMEX: LRP), a
biopharmaceutical company specializing in the research and development of
pharmaceutical products and technologies for the management of cancer, today
announced that the corporate reorganization involving, among others,
4325231 Canada Inc. (formerly Lorus Therapeutics Inc., "Old Lorus"), Lorus
Therapeutics Inc. (formerly 6650309 Canada Inc., a wholly owned subsidiary of
Old Lorus, "New Lorus"), 6707157 Canada Inc. and Pinnacle International Lands
Inc. has been completed.
    The completion of the transaction resulted in approximately $8.5 million
in additional cash for New Lorus, subject to a $600,000 holdback, a post
closing adjustment and not including the costs of the transaction, without
diluting the equity interests of existing securityholders.
    The transaction was described in detail in the management proxy circular
of Old Lorus dated May 25, 2007 and securityholder approval for the
transaction was obtained on June 25, 2007. As a result of this corporate
reorganization, each common share of Old Lorus has been exchanged as of today
for one common share of New Lorus. In addition, as previously disclosed,
shareholders who are not resident in the United States (other than certain
selling shareholders) will receive voting common shares of Old Lorus and
shareholders who are resident in the United States will receive a nominal cash
payment instead of such voting common shares. New Lorus will continue the
business previously carried on by Old Lorus as of today.
    Effective at the opening of the markets on July 11, 2007, the common
shares of New Lorus will begin trading on the Toronto Stock Exchange and AMEX
and the common shares of Old Lorus will cease to trade. There is no change to
the trading symbols (TSX: LOR; AMEX: LRP).
    "We are very pleased to complete the reorganization," commented
Dr. Aiping Young, President and CEO of New Lorus. "We believe that the
additional funds put us in a strong position where we can accelerate the
clinical development of our lead compounds and extend our pipeline of
products. We believe that the reorganization was especially important in that
it resulted in a capital injection for the company that did not dilute
shareholder interests."

    About Lorus

    Lorus is a biopharmaceutical company focused on the research and
development of novel therapeutics in cancer. Lorus' goal is to capitalize on
its research, preclinical, clinical and regulatory expertise by developing new
drug candidates that can be used, either alone, or in combination with other
drugs, to successfully manage cancer. Through its own discovery efforts and an
acquisition and in-licensing program, Lorus is building a portfolio of
promising anticancer drugs. Lorus has completed one Phase II and one Phase III
clinical trial. Lorus Therapeutics Inc. is listed on the Toronto Stock
Exchange under the symbol LOR, and on the American Stock Exchange under the
symbol LRP.

    Forward-looking statements

    This press release contains forward-looking statements within the meaning
of Canadian and U.S. securities laws. Such statements include, but are not
limited to, statements relating to: financings and corporate reorganizations,
the establishment of corporate alliances, the Company's plans, objectives,
expectations and intentions and other statements including words such as
"continue", "expect", "intend", "will", "should", "would", "may", and other
similar expressions. Such statements reflect our current views with respect to
future events and are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable by us are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies. Many
factors could cause our actual results, performance, achievements or the
transactions described in this press release to be materially different from
any future results, performance, achievements or transactions described in
this press release, if at all, that may be expressed or implied by such
forward-looking statements, including, among others: the progress of
negotiations; our ability to obtain regulatory, securityholder and other
approvals; our ability to obtain the capital required for research and
operations; the inherent risks in early stage drug development including
demonstrating efficacy; development time/cost and the regulatory approval
process; the progress of our clinical trials; our ability to find and enter
into agreements with potential partners; our ability to attract and retain key
personnel; changing market conditions; and other risks detailed from
time-to-time in our ongoing quarterly filings, annual information forms,
annual reports and annual filings with Canadian securities regulators and the
United States Securities and Exchange Commission.
    Should one or more of these risks or uncertainties materialize, or should
the assumptions set out in the section entitled "Risk Factors" in our filings
with Canadian securities regulators and the United States Securities and
Exchange Commission underlying those forward-looking statements prove
incorrect, actual results may vary materially from those described herein.
These forward-looking statements are made as of the date of this press release
and we do not intend, and do not assume any obligation, to update these
forward-looking statements, except as required by law. We cannot assure you
that such statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not guarantees of
future performance and accordingly investors are cautioned not to put undue
reliance on forward-looking statements due to the inherent uncertainty
therein.

    Lorus Therapeutics Inc.'s recent press releases are available through its
website at www.lorusthera.com.

    %SEDAR: 00002368E          %CIK: 0000882361

    /For further information: Lorus Therapeutics Inc.: Dr. Saeid Babaei,
(416) 798-1200 ext. 490, ir(at)lorusthera.com/
    (LOR. LRP)

CO:  Lorus Therapeutics Inc.

CNW 20:04e 10-JUL-07