Ondine Biomedical Inc.
LSE : OBP

September 02, 2011 02:00 ET

Ondine Receives Final Court Order for Privatization

FOR:  ONDINE BIOMEDICAL INC.

TSX, AIM SYMBOL:  OBP

September 1, 2011

Ondine Receives Final Court Order for Privatization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2011) - Ondine Biomedical Inc. (the "Company" or "Ondine",
(TSX:OBP)(AIM:OBP) announced that it has today obtained a final order from the Supreme Court of British
Columbia, in connection with the previously announced plan of arrangement (the "Arrangement") pursuant to which
0902337 B.C. Ltd. (the "Purchaser"), a private company whose sole shareholder is Carolyn Cross, Chairman, Chief
Executive Officer and a shareholder of Ondine, will acquire all of the issued and outstanding common shares of
Ondine (the "Common Shares"). Receipt of the final order was one of the conditions that needed to be satisfied
prior to the Arrangement becoming effective. Subject to the satisfaction or waiver, if permissible, of certain
other customary conditions, it is expected the Arrangement will become effective on September 6, 2011 and that
the Company's share registers will be closed effective at 4:30PM (Vancouver time) on September 2, 2011.

About Ondine Biomedical Inc.

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, primarily for the healthcare-associated infection (HAI) market. 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. For additional information, please visit the Company's website at:
www.ondinebio.com.

Forward-Looking Statements:

Certain statements contained in this release containing words like "believe", "intend", "may", "expect",
"would" and other similar expressions, are forward-looking statements that involve a number of risks and
uncertainties. This forward-looking information relates to, among other things, the timing and prospects for
completion of the Arrangement, which is subject to a number of conditions precedents, such as the approval of
the Arrangement by regulatory authorities. Accordingly, there can be no assurances that the Arrangement will be
consummated. The forward-looking statements contained in this release reflect the current views of Ondine with
respect to future events and are necessarily based upon a number of assumptions and estimates that, while
considered reasonable by Ondine, are inherently subject to various risks and uncertainties. Many factors, both
known and unknown, could cause actual results, performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by such forward-looking
information contained in this news release and Ondine has made assumptions based on or related to many of these
factors. Such factors that could cause actual results to differ materially from those projected in the
Company's forward-looking statements include, without limitation, the following: litigation, fluctuations in
economic and equity market conditions, 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.
Investors are cautioned against attributing undue certainty or reliance on forward-looking information.
Although Ondine has attempted to identify important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be as anticipated, estimated, described or
intended. Ondine does not intend, and does not assume any obligation, to update this forward-looking
information to reflect changes in assumptions or changes in circumstances or any other events affecting such
information, other than as required by applicable law.


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FOR FURTHER INFORMATION PLEASE CONTACT:

Ondine Biomedical Inc.
Carolyn Cross
Chairman and CEO
(604) 669-0555
ccross@ondinebio.com
www.ondinebio.com

OR

Canaccord Genuity Limited
Nominated Adviser
Mark Williams/Bhavesh Patel
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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