FOR: ONDINE BIOPHARMA CORPORATION
TSX, AIM SYMBOL: OBP
May 21, 2009
Ondine Announces Results From Annual and Special Meeting
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2009) - Ondine Biopharma Corporation (TSX:OBP)(AIM:OBP) a
medical technology company developing photodisinfection based products, today announced that the Company's
shareholders approved all of the resolutions put forward in the information circular including the proposed
sale of the Company's Dental Healthcare Business to JS Dental Technologies (the "Dental Business Sale") as
announced on April 8, 2009. With 56.3% of the outstanding shares voting at the annual and special meeting of
the Company held on May 19, 2009, the resolution proposing the Dental Business Sale passed by an overwhelming
majority of 99.9%. Subject to the execution of definitive agreements and TSX approval, the sale of the Dental
Business is expected to be completed later this month.
"The Dental Business Sale is a key component of the corporate restructuring plan that will enable Ondine to
focus on the commercialization of MRSAid(TM), a non-antibiotic MRSA nasal decolonization product," said Carolyn
Cross, Chairman and CEO. "Having successfully introduced Periowave(TM) into the Canadian dental market place,
Ondine intends to use ongoing cash flows from the Dental Business Sale in part, to develop new products and new
applications building on our leadership position in photodynamic disinfection technology."
Ondine wishes to announce the appointment of Ms. Margaret Shaw as a Director of the Company. Ms. Shaw, aged 56,
has over 30 years of experience in the capital markets. Ms. Shaw established and managed a department
responsible for the measuring and monitoring of performance analytics, and adherence to investment protocols at
AGF Fund Inc., one of the largest independent mutual funds in Canada. Previously she had managed institutional
funds focusing on small and mid-sized emerging technologies for AGF and for CIBC. Ms. Shaw has a Chartered
Financial Analyst designation and a Bachelor of Mathematics degree from the University of Waterloo. Ms. Shaw
currently owns 212,940 shares of the Company.
Pursuant to schedule 2(g) of the AIM rules there are no further disclosures.
The Company would like to give special thanks to Mr. Paolo Kalaw, who had served as a Director of the Company
for the past four years. Mr. Kalaw's significant contributions and impact at both board and operating levels
were instrumental in helping to shape Ondine into becoming a leader in the field of photodynamic therapy.
About Ondine Biopharma Corporation
Ondine Biopharma develops non-antibiotic therapies to treat a broad spectrum of bacterial, fungal and viral
infections. The Company is focused on developing leading-edge products that utilize its patented light-
activated technology to kill microbes without encouraging the formation and spread of antibiotic resistance.
Ondine is a publicly-traded company listed on the Toronto and AIM stock exchanges under the symbol OBP. Ondine
is headquartered in Vancouver, British Columbia, Canada, and has a research and development facility in
Bothell, Washington, USA and an international office in St. Michael, Barbados. For additional information,
please visit the Company's website at: www.ondinebiopharma.com.
Forward-Looking Statements:
Certain statements contained in this release containing words like "believe", "intend", "may", "expect" and
other similar expressions, are forward-looking statements that involve a number of risks and uncertainties.
Factors that could cause actual results to differ materially from those projected in the Company's forward-
looking statements include the following: market acceptance of our technologies and products; our ability to
obtain financing; our financial and technical resources relative to those of our competitors; our ability to
keep up with rapid technological change; government regulation of our technologies; our ability to enforce our
intellectual property rights and protect our proprietary technologies; the ability to obtain and develop
partnership opportunities; the timing of commercial product launches; the ability to achieve key technical
milestones in key products and other risk factors identified from time to time in the Company's public filings.
The sale of the Company's Dental Healthcare Business to JS Dental Technologies Inc. is subject to, among other
things, negotiation of a definitive agreement and the Company receiving regulatory approval. It is anticipated
that the transaction will close later this month; however, no assurances can be made.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Ondine Biopharma Corporation
Carolyn Cross
Chairman and Chief Executive Officer
(604) 669-0555
ccross@ondinebiopharma.com
www.ondinebiopharma.com
OR
Canaccord Adams Ltd.
Ryan Gaffney
Nominated Adviser
+4420 7050 6500
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this
release.
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Ondine Biopharma Corporation