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Callisto Pharmaceuticals to Present at BIO Investor Forum 2007


    Callisto Pharmaceuticals, Inc. (Amex: KAL; FWB: CA4), a developer
    of new drug treatments in the fight against cancer and
    gastrointestinal disorders and diseases, announced today that Gary S.
    Jacob, Ph.D., Chief Executive Officer of Callisto Pharmaceuticals will
    present a company update at the BIO InvestorForum 2007 which is being
    held on October 9-11, 2007 at the Palace Hotel in San Francisco. Dr.
    Jacob's presentation will be on Thursday October 11, 2007, at 3pm in
    the Telegraph room at the Palace Hotel.

    About Callisto Pharmaceuticals, Inc.

    Callisto is a biopharmaceutical company focused on the development
    of new drugs to treat various forms of cancer and gastrointestinal
    diseases. Callisto's drug candidates include two anti-cancer agents as
    well as a drug for gastrointestinal disorders. One of the Company's
    lead drug candidates, Atiprimod is presently in a Phase II clinical
    trial in advanced carcinoid cancer patients, a neuroendocrine tumor,
    and in a Phase I/IIa human clinical trial in relapsed or refractory
    multiple myeloma patients. Another anti-cancer drug, L-Annamycin, is
    being developed as a treatment for forms of relapsed or refractory
    acute leukemia, a currently incurable blood cancer. L-Annamycin is
    currently in a Phase I clinical trial in adult relapsed or refractory
    acute lymphocytic leukemia, and in a Phase I clinical trial in
    children and young adults with refractory or relapsed acute
    lymphocytic leukemia or acute myelogenous leukemia. L-Annamycin, a
    member of the anthracycline family of proven anti-cancer drugs, has a
    novel therapeutic profile, including potential activity against
    multi-drug resistant tumors and significantly reduced cardiotoxicity,
    or damage to the heart, compared to currently available drug
    alternatives. Callisto also has a proprietary drug Guanilib in
    preclinical development for gastro-intestinal disorders. Callisto is
    also listed on the Frankfurt Stock Exchange under the ticker symbol
    CA4. More information is available at http://www.callistopharma.com.