MedGenesis Therapeutix Reacquires Rights for GDNF

Published: Nov 08, 2010

VICTORIA, BRITISH COLUMBIA--(Marketwire - November 08, 2010) - MedGenesis Therapeutix Inc. ("MedGenesis"), announced today that it has regained all rights to glial cell line-derived neurotrophic factor (GDNF) protein and related Convection Enhanced Delivery (CED) technology from Biovail Laboratories International SRL ("BLS"), a wholly owned subsidiary of Valeant Pharmaceuticals International, Inc. (NYSE and TSX: VRX). MedGenesis and BLS agreed to conclude their previously established collaboration to develop and commercialize GDNF, returning the product to MedGenesis together with a one-time cash payment of $5 million to accelerate the development of GDNF in Parkinson's disease. At the same time, MedGenesis has broadened GDNF applications to hearing loss and epilepsy.

MedGenesis Therapeutix Inc.
Michael Lincoln
Chief Financial Officer
(250) 386-3000

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