Ondine Boipharma Cor: Ondine Biopharma Corporation | Company Announcements

Thursday 19 November, 2009

Ondine Boipharma Cor

Ondine Biopharma Corporation



FOR:  ONDINE BIOPHARMA CORPORATION

TSX, AIM SYMBOL:  OBP

November 19, 2009

Ondine Biopharma Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2009) - Ondine Biopharma Corporation ("Ondine" or
the "Company") (TSX:OBP)(AIM:OBP) today announces the following transactions by Directors of the
Company:

/T/

----------------------------------------------------------------------------
Name                                                              Colin Watt
----------------------------------------------------------------------------
Relationship to the Company                                         Director
----------------------------------------------------------------------------
Date the transaction was reported to the Company           November 18, 2009
----------------------------------------------------------------------------
Nature of the transaction                               Options issued which
                                                       entitle the holder to
                                                      purchase common shares
                                                         under the Company's
                                                           stock option plan
----------------------------------------------------------------------------
Grant date                                                 November 18, 2009
----------------------------------------------------------------------------
Expiry date                                                November 18, 2014
----------------------------------------------------------------------------
Number of options issued                                             200,000
----------------------------------------------------------------------------
Exercise price per option,                                        Cdn. $0.06
 each option is exercisable
 into one common share
----------------------------------------------------------------------------
Price per security issued                                                Nil
 in this transaction
----------------------------------------------------------------------------
Nature and extent of the above's              100% direct ownership interest
 interest in the transaction
----------------------------------------------------------------------------
Close period                                                              No
----------------------------------------------------------------------------
Additional information                            The options vest in stages
                                                 during the first year after
                                                           the date of grant
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Name                                                           Michael Crane
----------------------------------------------------------------------------
Relationship to the Company                                         Director
----------------------------------------------------------------------------
Date the transaction was reported to the Company           November 18, 2009
----------------------------------------------------------------------------
Nature of the transaction                               Options issued which
                                                       entitle the holder to
                                                      purchase common shares
                                                         under the Company's
                                                           stock option plan
----------------------------------------------------------------------------
Grant date                                                 November 18, 2009
----------------------------------------------------------------------------
Expiry date                                                November 18, 2014
----------------------------------------------------------------------------
Number of options issued                                             200,000
----------------------------------------------------------------------------
Exercise price per option,                                        Cdn. $0.06
 each option is exercisable
 into one common share
----------------------------------------------------------------------------
Price per security issued                                                Nil
 in this transaction
----------------------------------------------------------------------------
Nature and extent of the above's              100% direct ownership interest
 interest in the transaction
----------------------------------------------------------------------------
Close period                                                              No
----------------------------------------------------------------------------
Additional information                            The options vest in stages
                                                 during the first year after
                                                           the date of grant
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Name                                                           Margaret Shaw
----------------------------------------------------------------------------
Relationship to the Company                                         Director
----------------------------------------------------------------------------
Date the transaction was reported to the Company           November 18, 2009
----------------------------------------------------------------------------
Nature of the transaction                               Options issued which
                                                       entitle the holder to
                                                      purchase common shares
                                                         under the Company's
                                                           stock option plan
----------------------------------------------------------------------------
Grant date                                                 November 18, 2009
----------------------------------------------------------------------------
Expiry date                                                November 18, 2014
----------------------------------------------------------------------------
Number of options issued                                             200,000
----------------------------------------------------------------------------
Exercise price per option,                                        Cdn. $0.06
 each option is exercisable
 into one common share
----------------------------------------------------------------------------
Price per security issued                                                Nil
 in this transaction
----------------------------------------------------------------------------
Nature and extent of the above's              100% direct ownership interest
 interest in the transaction
----------------------------------------------------------------------------
Close period                                                              No
----------------------------------------------------------------------------
Additional information                            The options vest in stages
                                                 during the first year after
                                                           the date of grant
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Name                                                           Terry Holland
----------------------------------------------------------------------------
Relationship to the Company                           Director and Executive
                                                                    Chairman
----------------------------------------------------------------------------
Date the transaction was reported to the Company           November 18, 2009
----------------------------------------------------------------------------
Nature of the transaction                               Options issued which
                                                       entitle the holder to
                                                      purchase common shares
                                                         under the Company's
                                                           stock option plan
----------------------------------------------------------------------------
Grant date                                                 November 18, 2009
----------------------------------------------------------------------------
Expiry date                                                November 18, 2014
----------------------------------------------------------------------------
Number of options issued                                             200,000
----------------------------------------------------------------------------
Exercise price per option,                                        Cdn. $0.06
 each option is exercisable
 into one common share
----------------------------------------------------------------------------
Price per security issued                                                Nil
 in this transaction
----------------------------------------------------------------------------
Nature and extent of the above's              100% direct ownership interest
 interest in the transaction
----------------------------------------------------------------------------
Close period                                                              No
----------------------------------------------------------------------------
Additional information                            The options vest in stages
                                                 during the first year after
                                                           the date of grant
----------------------------------------------------------------------------

/T/

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Ondine Biopharma Corporation
Carolyn Cross
Chairman and CEO
(604) 669-0555
ccross@ondinebiopharma.com

OR

Canaccord Adams Ltd.
Ryan Gaffney
Nominated Adviser
+4420 7050 6500

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Ondine Biopharma Corporation
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