It is with great pleasure that Therabel announces today that it has signed an agreement with Javelin Pharmaceuticals Inc, USA, to acquire their UK subsidiary Javelin Pharmaceuticals UK Ltd. As part of the agreement, Therabel will also obtain the exclusive, European rights to commercialise Dyloject^®, a new form of injectable diclofenac for post-operative pain relief. The acquisition of Javelin UK provides Therabel with a fully functioning and highly successful sales & marketing operation in the UK, which includes 13 Specialist Hospital Representatives and Head Office Team. Dyloject was launched in the UK in January 2008 and has achieved significant market penetration of the post-operative pain market, delivering over 50% of target hospital formulary acceptance within its 1^st year of launch. The drug is forecast to treble its sales in FY2009. Therabel currently has operations in Benelux, France & Italy and the addition of the UK means that we shall have a presence in 3 out of the Top 5 EU markets and it is our intention to establish a subsidiary in Germany to launch Dyloject by 2010.

Dyloject is a novel, patented formulation of the non-steroidal anti-inflammatory drug (NSAID), diclofenac which enables the drug to be administered as a fast-push IV bolus injection. Currently most injectable NSAIDs must be infused slowly over 15-30 minutes. Thus, Dyloject represents a significant breakthrough for post-operative pain patients, offering a faster onset of pain relief combined with reduced side effects. Due to this novel formulation, Dyloject reduces the incidence of thrombophlebitis, (a painful inflammation of the vein which is a known complication of IV NSAID administration), by up to 75% compared to standard IV diclofenac.

In February 2008, the drug achieved a positive pharmaco-economic opinion from the Scottish Medicines Consortium, which recognised Dyloject’s ability to achieve cost-savings on consumables and staff time of up to £45 GPB (~€50 Euro) per patient compared to standard IV diclofenac.

Dyloject will be licensed in the rest of Europe via the MRP process and Therabel aims to successfully bring it to market across the continent either through our own subsidiaries or through partners in territories where we do not yet have a presence