Caleco Pharma Corp. to Begin Distribution of Liver Health Formulation Through European Partner

LONG VALLEY, NEW JERSEY--(Marketwire - July 29, 2010) - (OTCBB: CAEH)(FRANKFURT: T3R)(WKN: A0N9Y0) (www.calecopharmacorp.com) Caleco Pharma Corp. (the “Company” or “Caleco”), a diversified healthcare company with biopharmaceutical and consumer health product development programs focused on the development of breakthrough products derived from natural sources including plant extracts, functional oils and probiotics, today reports that Caleco Pharma Europe, S.L. (“CPE”), an independent healthcare products company with operations in Barcelona, Spain, has informed Caleco that it will begin distribution of its lead product, LamiriDOSIN in September 2010. CPE obtained a European license to distribute and market LamiriDOSIN and other products Caleco has developed or is in the process of developing under the terms of a license agreement entered into by the parties in November, 2009.

Caleco anticipates that LamiriDOSIN will be launched first in Spain, where LamiriDOSIN can take full advantage of CPE’s longstanding distribution network and knowledge of local markets. The company expects to complete agreements with local distribution partners in five additional European countries in the near term.

“The launch of our first commercial product, LamiriDOSIN represents the first step in our strategy to bring initial revenue to the company from the development and sales of over-the-counter supplements and dermatologic products derived from the company’s proprietary liver formulation, while continuing pre-clinical development of two additional ‘liver health formula’ derivatives; CPC.12115HP201 and CPC.12115HP202 as potential prescription drugs. CPC.12115HP201 and CPC.12115HP202 have shown significant anti-viral activity in vitro and are moving through the final stages of pre-clinical development in 2010,” said John Boschert, Caleco Pharma’s CEO.

To date, Caleco’s intellectual property covering the “Liver Health” formulations is comprised of patent applications in the United States, Europe and Canada and four European Drug Master File applications.

Additional information is available on the company’s website at: http://www.calecopharmacorp.com/

About Caleco Pharma Corp.

Caleco is focused on the ongoing research and development of its pipeline of over-the-counter and prescription medications including its proprietary antiviral and “Liver Health” OTC formulations. In addition Caleco is developing Dermatological Products based on the active ingredients found in its proprietary formulation. To date, Caleco’s intellectual property covering the Liver Health formulations and derivatives consists of patent applications in the United States, Europe and Canada and four European Drug Master File applications. Caleco’s shares are traded in the United States on the OTC Bulletin Board (OTCBB: CAEH) and in Germany on the Frankfurt Stock Exchange (FRANKFURT: T3R)(WKN: A0N9Y0).

This press release may contain, in addition to historic information, forward-looking statements. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, there are no assurances that: (i) the United States Patents and Trademarks Office will grant Caleco a patent in connection with its current patent applications; (ii) Caleco will be able to manufacture and produce its products or that its products will be effective; (iii) Caleco Pharma Europe will be able to successfully distribute Lamiridosin in Europe; (iv) Caleco will be able to carry out any pre-clinical or clinical trials of its products; (v) Caleco will be able to obtain additional financing in order to meet the costs of the clinical studies of the “Liver Health” formulation; and (vi) Caleco will be able to control the costs of the clinical studies of the “Liver Health” formulation. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.