Paladin Labs Inc.
TSX : PLB

Paladin Labs Inc.

July 11, 2011 16:00 ET

Paladin Labs Raises Over $1.2 Million to Benefit the Ride to Conquer Cancer

MONTREAL, CANADA--(Marketwire - July 11, 2011) - Paladin Labs Inc. (TSX:PLB), a leading Canadian specialty pharmaceutical company, announced today that it raised over $1.2 million to benefit the Ride to Conquer Cancer since 2009. The 2011 campaign will mark Paladin's third consecutive year of participation in the Ride to Conquer Cancer in Montreal and its first ever involvement in the Ride to Conquer Cancer in Alberta. In 2011 alone, Paladin's teams raised over $450,000 and brought together over 140 riders to support ongoing cancer research and care in Canada.

From June 25-26, 2011, Paladin's team in Alberta engaged in a 200 kilometer trek along the majestic Rockies. Paladin's Alberta team consisted of more than 40 cyclists and raised over $100,000. On July 9th and 10th 2011, more than 100 Paladin riders, including employees, their families and friends as well as business partners, devoted themselves to the epic journey from Montreal to Quebec City to demonstrate their support for cancer research. Paladin's team in Montreal cycled over 200 kilometers and raised over $350,000 in 2011.

"If a company with only 100 employees, like Paladin, can raise over $1.2 million for cancer research in 3 years, imagine how much good corporate Canada could achieve if they treated philanthropy with the same importance as their financial bottom line" said Jonathan Ross Goodman, President and CEO of Paladin Labs.

The money raised for The Enbridge Ride to Conquer Cancer in Montreal and Alberta will help fund innovative cancer research and improved patient outcomes.

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 and world markets. 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 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, 2010. 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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