FOR: ONDINE BIOPHARMA CORPORATION
TSX, AIM SYMBOL: OBP
September 23, 2009
Ondine Biopharma Raises $618,000 from Partial Sale of Grafton Investment
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2009) - Ondine Biopharma Corporation (the
"Company" or "Ondine") (TSX:OBP)(AIM:OBP), a medical device company developing photodisinfection based
products, today announced it has received cash proceeds of $618,000 (US$577,500) from the sale of
21,000 Ordinary Shares of Grafton Resource Investments Ltd. (the "Grafton Fund"). Ondine acquired its
investment in the Grafton Fund shares via a share exchange transaction executed earlier this year. The
Company will recognize a pre-tax loss of $341,000 on this sale in its consolidated financial
statements for the quarter ended September 30, 2009. The Company continues to hold 18,042 Ordinary
Shares of Grafton with an original cost of $824,000. The Company intends to liquidate these shares in
the future to raise additional funds as needed for the continued research and development of the
Company's platform photodisinfection technology and for working capital and general corporate
purposes.
About Ondine Biopharma Corporation
Ondine is developing non-antibiotic therapies for the treatment of a broad spectrum of bacterial,
fungal and viral infections. The Company is focused on developing leading edge products utilizing its
patented light-activated technology. Photodisinfection provides broad-spectrum antimicrobial efficacy
without encouraging the formation and spread of antibiotic resistance. The Company is based in
Vancouver, British Columbia, Canada, with a research and development laboratory 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; and 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.
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.
Ondine Biopharma Corporation
|
