EACOM Timber Corporation Announces Orexo AB’s Phase IIa Data on OX914 in Rhinitis

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2009) - EACOM Timber Corporation (NEX: ETR.H) today reported that Orexo announced the Phase IIa data on OX914 in rhinitis. Orexo reported that “the trial data showed that treatment with 15 mg or 50 mg per day of OX914 did not show a statistically significant reduction in patient symptom scores after allergen provocation compared with placebo treatment. OX914 was safe and well tolerated, and unlike most other PDE4 inhibitors, did not show any increased evidence of nausea or vomiting compared with placebo.”

“While this result showed that oral treatment with OX914 is not likely to be an effective therapy in allergic rhinitis, no assessment can be made from this result in respect of its efficacy against COPD. In light of the preclinical in vivo evidence of efficacy and the molecule’s strong safety and tolerability profile, Orexo will continue its ongoing discussions with several potential development partners for OX914 and the suite of back-up molecules in this series for COPD and other non-respiratory inflammatory indications.”

Eacom’s previous business was in biopharmaceuticals and through that predecessor business, Eacom has retained an interest in Orexo’s PDE4 inhibitor program, which includes OX914. If a decision is made by Orexo, or a subsequent purchaser or licensee, to take any one of these compounds into a Phase IIb study, then a $1.5 million milestone payment would be payable to Eacom. Although Orexo have not given any indication of whether or not they will take OX914 into a Phase IIb study at this time, their priority is to continue their ongoing partnering discussion. For Orexo’s entire press release on OX914 please go to their website at www.orexo.com.

Statements in this news release other than historical information are forward-looking statements subject to risks and uncertainties. Actual results could differ materially depending on factors such as the availability of resources, the timing and effects of regulatory actions, the strength of competition, the outcome of litigation and the effectiveness of patent protection. Additional information regarding risks and uncertainties is set forth in the current MD&A for EACOM Timber Corporation on file with the Canadian Securities Commissions.

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