FOR: ONDINE BIOPHARMA CORPORATION
TSX, AIM SYMBOL: OBP
June 3, 2009
Ondine Announces Completion of $1.78 Million Private Placement
Share Exchange with Grafton Fund
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 3, 2009) - Ondine Biopharma Corporation (the "Company" or
"Ondine"), (TSX:OBP)(AIM:OBP), a medical device company developing photodisinfection based products, today
announced it has completed the private placement with Grafton Resource Investments Ltd. ("Grafton") which was
press released on May 19th. The private placement consisted of a share exchange transaction with Grafton, a
Closed-End fund managed by Newland Fund Management LLP of London, England.
Ondine issued 14,851,250 of its common shares at C$0.12 per share to Grafton, representing a value of
C$1,782,150 (US$1.5 million), in exchange for 39,042 Ordinary Shares of Grafton Fund (the "Grafton Fund
Shares") at US$38.42 per fund share. The common shares of Ondine issued pursuant to the share exchange
transaction are subject to a hold period in Canada expiring October 3, 2009. An application has been made for
the 14,851,250 common shares issued by Ondine under the private placement to be admitted to trading on AIM, and
admission is expected to occur on June 4, 2009. Subsequent to the closing of this placement, Grafton Fund owns
a total of 17.5% of Ondine's issued and outstanding shares. In connection with this transaction, DFC Corp.
received a finder's fee, which includes 250,000 share purchase warrants. Each warrant is exercisable into one
common share of Ondine at $0.12 until June 2, 2011. Upon completion of this private placement Ondine will have
84,830,594 common shares outstanding.
About Grafton Fund
The Grafton Fund is a Cayman Island-based Closed-End fund managed by Newland Fund Management LLP of London,
England and was incorporated for the purpose of capital gains appreciation of diversified investments in the
medium term. The Fund Managers have had past success with similar funds and a long track record in the
investment industry. Newland Fund Management LLP plans to list the Grafton Fund shares on the Irish Stock
Exchange and on one or more additional exchanges in the near future, but there are no assurances that a listing
on a public exchange will occur and therefore there can be no assurances of financial liquidity. For additional
information about Newland Fund Management LLP and the Grafton Fund, please visit www.newlandfinancial.co.uk.
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.
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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