Paladin Labs Inc.
TSX : PLB

Paladin Labs Inc.

June 18, 2009 08:00 ET

Paladin Labs Inc. Signs Exclusive Agreement With Sylphar N.V.

Sylphar's Tooth Whitening Products Shipped to Europe, Middle East and Africa

MONTREAL, CANADA and DEURLE, BELGIUM--(Marketwire - June 18, 2009) - Paladin Labs Inc., (TSX:PLB), a leading Canadian specialty pharmaceutical company, and Sylphar N.V., today announced that they have entered into an agreement to develop and market an oral dissolving teeth whitening film strip in Europe. Under this agreement, Sylphar and Paladin plan to sell their first product in June 2009. Paladin will assume responsibility for the development, manufacturing and packaging of the product. This partnership agreement gives Paladin the opportunity to lead the way in bringing an oral dissolving teeth whitening film strip technology to Europe.

Robin List, CEO of Sylphar NV said: "We are very happy to commercialize, under our brand name Whizzer™, the innovative whitening system exploiting Paladin's high professional nutraceutical & pharmaceutical knowledge. Whizzer™ represents an important opportunity in order to cover a very fast growing consumer need with a unique easy-to-use home whitening program. We strongly believe Whizzer™ has the potential to become in the next months one of most representative brands inside Sylphar's portfolio."

"We are thrilled to partner with the world leader in marketing of oral care and OTC products," said Jonathan Ross Goodman, President and CEO of Paladin Labs.

"We are also pleased that Sylphar recognizes BioEnvelop® as being a valuable partner in the advancement of a new technology in Europe," said Etan Jagermann, COO of BioEnvelop®.

About the oral dissolving teeth whitening film strip

- 56 rapid dissolving strips (one month supply)

- Invisible, thin peroxide strips that stick to your teeth

- Dissolves after 5-10 minutes

- Once a day

- 6% H2O2

- Convenient / Comfortable: use anywhere at anytime

- Triple dental care: whitens, refreshes, kills oral bacteria

- Maintains oral health

- Enamel-safe

- Nothing to remove, no mess

- Easy: open, apply, dissolves

About Sylphar

Sylphar, a privately held company with offices in Belgium, Singapore and the United States, strives to be a world leader in marketing of oral care and otc products. Sylphar's products are renowned for their technological superiority and ease-of-use. Based in Deurle, Belgium, Sylphar has successfully researched all of its own products. These products are now distributed in more than 35 countries worldwide and are exclusively sold through pharmacies and drugstores. For further information about Sylphar please visit the Company's web site at www.sylphar.com.

About BioEnvelop®

Founded in 1998, BioEnvelop® designs and manufactures state-of-the-art Delivery Systems of Active Ingredients in both film and gel formats that have wide applications in the Medical & Dental, Health & Wellness and Oral Care industries. BioEnvelop® has a license to manufacture under the Natural Health Products (NHP) certification program of Canada. BioEnvelop® continues to offer many new opportunities for nutraceutical companies to change from a current product format into a new delivery system or just begin with an entirely new product application. In either case, BioEnvelop® has the passion, the resources and the complete focus to execute the introduction of a new product delivery concept to the marketplace and is constantly looking for new technologies and partnerships. For further information about BioEnvelop® please visit the Company's web site at www.bioenvelop.com.

About Paladin Labs Inc

Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Company's web site at www.paladinlabs.com.

This press release may contain forward-looking statements and predictions. 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. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiary, 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 the Company's Annual Information Form for the year ended December 31, 2008. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and 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 fillings, annual report and Annual Information Form and other fillings found on SEDAR at www.sedar.com

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