Correction - Sophiris Bio Inc. Files Registration Statement For Proposed Initial U.S. Public Offering On The NASDAQ

This release has been updated to correct the expected start date of the first pivotal trial for PRX302 to "in the first half of 2013."

SAND DIEGO and VANCOUVER, Feb. 18, 2013 /PRNewswire/ - Sophiris Bio Inc. (Sophiris, TSX: SHS) (" Sophiris " or the " Company "), a biopharmaceutical company developing a treatment for benign prostatic hyperplasia (BPH or enlarged prostate), previously announced on February 15, 2013 that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial U.S. public offering of its common shares on the NASDAQ stock market. The Company has also filed a preliminary short form prospectus with the securities regulatory authorities in British Columbia and Ontario in connection with the proposed offering.  All common shares to be sold in the offering will be offered by Sophiris. The number of shares to be offered and the price range for the offering have not yet been determined.

Citigroup and Leerink Swann are acting as joint book-running managers for the offering. Stifel and Lazard Capital Markets are acting as co-managers. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to and describing the terms of the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at [e-mail] or by phone at 1-800-831-9146, and Leerink Swann LLC (excluding the Canadian preliminary prospectus), Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, or by email at [e-mail] or by phone at 1-800-808-7525.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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