Paladin Labs Inc.
TSX : PLB

Paladin Labs Inc.

January 09, 2007 07:00 ET

Paladin Labs and Stallergenes Sign a Partnership for Oralair'TM' in Canada

MONTREAL, CANADA AND ANTONY, FRANCE--(CCNMatthews - Jan. 9, 2007) - Paladin Labs Inc. (TSX:PLB) and Stallergenes SA announced today that they have entered into a Canadian development, promotion and distribution agreement for Oralair™, Stallergenes' allergen extract immunotherapy sublingual tablets. Stallergenes and Paladin plan to submit the first product under this agreement, Oralair™ Grasses, for Canadian regulatory approval in 2007.

Under the terms of this agreement, Paladin will assume responsibility for Canadian clinical trials, registration, marketing, sales and distribution of Stallergenes' sublingual tablets, which include Oralair™ Grasses, Oralair™ recombinant Bet V 1 (birch) and Oralair™ Mites. This partnership offers Paladin the opportunity to lead the way in bringing sublingual immunotherapy, the gold standard treatment of seasonal allergies in Europe, to the Canadian market. Sublingual therapy represents a significant safety and quality of life improvement for Canadian patients compared to existing subcutaneous therapies.

"We are very pleased to team up with Paladin Labs, a company which has a demonstrated track record in developing, branding and detailing pharmaceutical specialties and with which we share a common culture of trust and performance", said Albert Saporta, Chairman and CEO of Stallergenes. "This partnership is a significant milestone in Stallergenes' activities outside Europe".

"We are thrilled to partner with the leader in sublingual allergen desensitization and to bring their exciting and novel product portfolio to Canada. This agreement will build on the success of Twinject® in establishing Paladin as the Canadian leader in the delivery of innovative, life-saving and patient-friendly treatment options for Canadian allergy sufferers. We are pleased that Stallergenes recognizes Paladin as being a valuable company in the advancement of this new opportunity for Canada," said Jonathan Ross Goodman, President and CEO of Paladin Labs.

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 subsidiaries, 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, 2005. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether a result of new information, future events, or 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

About ORALAIR™

The Oralair™ program includes 3 different products:

- Oralair™ Grasses is a sublingual desensitization tablet indicated for the treatment of allergic rhinitis of grass sensitive patients. Through a phase IIb / III clinical trial carried out in 2005 in more than 600 randomised patients, Oralair™ Grasses has demonstrated high efficacy and tolerance with once daily dosage starting four months before the grass allergy season and continuing until completion of the allergy season. Oralair™ Grasses was filed pursuant to the Mutual Recognition Procedure in July 2006, with Germany serving as the reference member state. Stallergenes expects that Oralair™ Grasses should be launched in the first European country in the first half of 2007. A long term development trial has been initiated in Europe and Canada, as well as a separate pediatric clinical trial in Europe.

- Oralair™ Mites is a sublingual desensitization tablet indicated for the treatment of allergic rhinitis of dust mites sensitive patients. A Phase I study has been completed and a Phase II / III is planned in adult allergic rhinitis patients in 2007.

- Oralair™ Birch (Bet V 1 recombinant allergen) is a sublingual desensitization tablet indicated for the treatment of allergic rhinitis of birch sensitive patients. Following its subcutaneous Proof of Concept (P.O.C.) study in 150 patients showing highly significant efficacy and safety results of recombinant Bet V 1 compared to natural allergen extracts, Stallergenes is currently carrying out a Phase I with Oralair™ sublingual tablets in Denmark.

About Paladin

Paladin Labs Inc., headquartered in Montreal, Canada, is a leading specialty pharmaceutical company focused on developing, 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 Paladin Web Site at www.paladinlabs.com.

About Stallergenes

Stallergenes is a European biopharmaceutical company dedicated to desensitization treatments for the prevention and cure of allergy-related respiratory diseases, e.g. rhino-conjunctivitis and allergic asthma.

Pioneer and leader in sublingual desensitization treatments, Stallergenes devotes 15% of its sales to Research and Development and is today fully involved in the development of a new therapeutic family, the sublingual desensitization tablets.

With headquarters in France, Stallergenes markets its products in approximately 40 countries. In 2005, Stallergenes reached a turnover of 112 million euros, half of which are achieved internationally.
Stallergenes is listed on the Eurolist Compartment B of the Euronext Paris Stock Exchange.

ISIN Code:FR0000065674

Reuters Code:GEN.PA

Bloomberg Code: GEN.FP

Additional information is available on www.stallergenes.com.

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