East Setauket, NY

Setauket, NY, December 17, 2007, Lixte Biotechnology Holdings, Inc. (OTCBB:

LIXT) a developer of improved methods for both detection and treatment of

cancer, announced the closing of a private placement. In the placement, Lixte

sold 1,000,000 shares of its Common Stock at a price of $0.65 per share

resulting in gross proceeds of $650,000. WestPark Capital, Inc. acted as

placement agent and received $65,000 in commissions and $26,000 representing

non-accountable expense fee. Lixte also issued to WestPark five year warrants

purchase up to 100,000 shares of the Company's Common Stock and five year

incentive warrants to purchase up to an additional 20,000 shares, all such

warrants to be exercisable at $0.65 per share.

agreed to file a registration statement with the SEC covering resale of the

shares upon written request from holders who represent at least 50% of the

shares. Lixte also granted to the holders piggyback registration

Kovach, Lixte's President, stated that Lixte intends to use the net proceeds to

pursue development of proprietary compounds for the submission of an IND

Food & Drug Administration for a Phase I clinical trial, and for working

and sale of the shares sold were not registered under the Securities Act

1933, as amended in reliance upon the exemption from registration contained

Section 4(2) of the Securities Act and Regulation D promulgated thereunder.

shares sold by Lixte may not be reoffered or sold in the United States by

holders in the absence of an effective registration statement, or exemption

the registration requirements, under the Securities Act.

a cancer therapeutics and diagnostics company. Founded as a

biomarker-diagnostics company in 2005, the Company develops new chemotherapy

drugs targeting molecular abnormalities of common human cancers. Over the

year, based on the discovery of a new biomarker for brain cancers by

collaborators at NIH, the Company is developing new drugs for the treatment

glioblastoma multiforme (GMB), the most common and most aggressive type of

primary brain cancer in adults and, to a much lesser extent, in

Westpark Capital, Inc.

is a leading full-service investment bank dedicated to providing innovative,

professional financial services to emerging growth companies headquartered

Los Angeles, California. WestPark provides a wide range of services for

both private and public companies, as well as to individuals and institutional

investors worldwide. WestPark is a leading financial advisor for emerging

companies. WestPark offers its clients a comprehensive range of services

including WRASPs, initial public offerings, reverse mergers, follow-on offerings

and private placements, and financial advisory services.

announcement contains certain forward-looking statements within the meaning

Section 27A of the Securities Act of 1933, and Section 21E of the Securities

Exchange Act of 1934. For example, statements regarding the Company's financial

position, business strategy and other plans and objectives for future

operations, and assumptions and predictions about future product demand,

manufacturing, costs, marketing and pricing factors are all forward-looking

statements. These statements are generally accompanied by words such as

"intend," "anticipate," "believe," "estimate," "potential(ly)," "continue,"

"forecast," "predict," "plan," "may," "will," "could," "would," "should,"

"expect" or the negative of such terms or other comparable terminology. The

Company believes that the assumptions and expectations reflected in such

forward-looking statements are reasonable, based on information available

on the date hereof, but the Company cannot provide assurances that these

assumptions and expectations will prove to have been correct or that the

will take any action that the Company may presently be planning. However,

forward-looking statements are inherently subject to known and unknown risks

uncertainties. Actual results or experience may differ materially from those

expected or anticipated in the forward-looking statements. Factors that could

cause or contribute to such differences include, but are not limited to,

regulatory policies, available cash, research results, competition from other

similar businesses, and market and general economic factors. This discussion

should be read in conjunction with the condensed consolidated financial

statements and notes thereto included in Item 1 of the Quarterly Report on

Form 10-QSB for the quarter ending September 30, 2007.

additional information, please see our Website: www.Lixte.com.