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Nuvo Research responds to increased trading activity

^{Published on 2009-06-09 04:05:21, Last Modified on 2009-06-09 04:06:19 - Market Wire}
 

 MISSISSAUGA, ON, June 9 /CNW/ - Nuvo Research Inc. (TSX: NRI), today responded to a request from the Investment Industry Regulatory Organization of Canada (IIROC) on behalf of the Toronto Stock Exchange following recent trading activity of Nuvo shares. While it is Nuvo's policy not to comment on market rumours or speculation, at the request of IIROC, Nuvo is confirming that, as previously disclosed, it continues to be in various stages of licensing discussions with pharmaceutical companies possessing sales and distribution capabilities for the marketing of Pennsaid(R) and Pennsaid Plus(R) in the United States and other territories. Certain of these discussions have progressed meaningfully over the last several weeks. However, while these discussions are ongoing and Nuvo is optimistic that it will be able to conclude a licensing agreement, there currently is no agreement in respect of licensing and there can be no assurances that such an agreement will be reached or, if an agreement is reached, its terms or timing. Consistent with Nuvo's policy, it does not intend to comment on further rumours or speculation. About Nuvo Research Inc. Nuvo is focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies. Nuvo's lead product is Pennsaid(R), a topical non-steroidal anti-inflammatory drug (NSAID), used for the treatment of the signs and symptoms of osteoarthritis of the knee. Nuvo intends to leverage its skin-penetrating technologies to create a portfolio of topical and transdermal products targeting a variety of indications. Nuvo Research Inc. is a publicly traded, Canadian pharmaceutical company headquartered in Mississauga, Ontario, with manufacturing facilities in Varennes, Québec and Wanzleben, Germany and a research and development Center in San Diego, California. For more information, please visit[ www.nuvoresearch.com ] This document contains forward-looking statements. Some forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Nuvo considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but caution that these assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report, as well as in Nuvo's Annual Information Form for the year ended December 31, 2008. Nuvo disclaims any intention or obligation to update or revise any forward-looking statements whether a result of new information or future events, except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company's ongoing quarterly filings, annual report and Annual Information Form and other filings found on SEDAR at [ www.sedar.com ]

For further information: about Nuvo, please contact: Media and Investor Relations, Adam Peeler, Equicom Group Inc., Tel: (416) 815-0700 x225, email: [ apeeler@equicomgroup.com ]