PreMD's New LungAlert(TM) Test

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PreMD's New LungAlert Test Format Presented at the 2006 AACC Annual Meeting

TORONTO, July 27 /CNW/ - PreMD Inc.'s (TSX: PMD; Amex: PME) new,

patent-pending test format for LungAlert can be easily processed using

standard, automated laboratory equipment, according to data presented today at

the American Association for Clinical Chemistry Annual Meeting in Chicago,

Illinois.

LungAlert is a non-invasive test that detects a cancer-associated sugar

in a sputum (phlegm) sample. The patient produces the sputum by coughing into

a cup. The sample is treated with PreMD's proprietary test, which produces a

color change reaction that is read with a spectrophotometer, or color reader,

to quantify the results.

"This new, microwell-based format is designed for rapid processing in an

automated, high volume laboratory environment, which should help to increase

LungAlert's market appeal and broaden opportunities for the technology," said

Dr. Michael Evelegh, Executive Vice President, Clinical and Regulatory Affairs

of PreMD. "The microwell method could also be applied in the diagnosis of

other cancers from which fluids or mucus secretions can be obtained, such as

breast, colorectal, cervical and prostate cancers."

The abstract presented by Dr. Evelegh was A Microwell-Based Galactose

Oxidase-Schiff's Assay for Thomsen-Friedenreich Antigen in Diagnosis of Lung

Cancer, authored by G. Cox and J. Miller, of McMaster University, Hamilton,

Ontario, and R. Zawydiwski, M. Evelegh and C. Carte, of PreMD. The abstract is

available online at www.premdinc.com, in the Clinical Research section.

The AACC is an international scientific/medical society that provides

leadership in advancing the practice and profession of clinical laboratory

medicine and its role in improving health care.

About PreMD

PreMD Inc. is a world leader in predictive medicine, dedicated to

developing rapid, non-invasive tests for the early detection of

life-threatening diseases. PreMD's cardiovascular products, which are branded

as PREVU(*) Skin Sterol Test, are licensed worldwide to McNeil Consumer

Healthcare. The company's cancer tests include ColorectAlert,

LungAlert and a breast cancer test. PreMD's head office is located in

Toronto, and its research and product development facility is at McMaster

University in Hamilton, Ontario. For further information, please visit

www.premdinc.com.

This press release contains forward-looking statements. These statements

involve known and unknown risks and uncertainties, which could cause the

Company's actual results to differ materially from those in the

forward-looking statements. Such risks and uncertainties include, among

others, the successful development or marketing of the Company's products, the

competitiveness of the Company's products if successfully commercialized, the

lack of operating profit and availability of funds and resources to pursue R&D

projects, the successful and timely completion of clinical studies, product

liability, reliance on third-party manufacturers, the ability of the Company

to take advantage of business opportunities, uncertainties related to the

regulatory process, and general changes in economic conditions.

In addition, while the Company routinely obtains patents for its products

and technology, the protection offered by the Company's patents and patent

applications may be challenged, invalidated or circumvented by our competitors

and there can be no guarantee of our ability to obtain or maintain patent

protection for our products or product candidates.

Investors should consult the Company's quarterly and annual filings with

the Canadian and U.S. securities commissions for additional information on

risks and uncertainties relating to the forward-looking statements. Investors

are cautioned not to rely on these forward-looking statements. PreMD is

providing this information as of the date of this press release and does not

undertake any obligation to update any forward-looking statements contained in

this press release as a result of new information, future events or otherwise.

(*) Trademark

%SEDAR: 00007927E

For further information: Ron Hosking, Chief Financial Officer, Tel:

(416) 222-3449, Email: rhosking@premdinc.com; Sarah Borg-Olivier, Director,

Communications, Tel: (416) 222-3449, Email: sbolivier@premdinc.com