Paladin Labs Inc. and Isotechnika Pharma Inc. Submit Voclera(TM) (Voclosporin) for Canadian Approval

MONTREAL, QUEBEC--(Marketwire - December 20, 2010) - Paladin Labs Inc. (TSX: PLB) and Isotechnika (TSX: ISA), announced today that they have submitted the dossier for Voclera™ (voclosporin) for approval in the Canadian market. Voclera™ is a novel immunosuppressive drug in the class of calcineurin inhibitors and is indicated for the treatment of moderate to severe psoriasis.

“Voclera™ is an innovative product that will provide an alternative treatment for psoriasis for Canadians.” said Jonathan Ross Goodman, President and CEO of Paladin Labs.

“Voclera™ was discovered by Isotechnika and has been in development since the late 1990’s. This submission is the culmination of almost 15 years of discovery and development into a novel, next generation calcineurin inhibitor”, states Dr. Robert Foster, President and CEO of Isotechnika Pharma Inc. “We believe Voclera™ offers a unique new treatment that is both safe and effective in treating patients with psoriasis, a very debilitating disease.”

Paladin acquired the Canadian rights for Voclera™ from Isotechnika in June, 2009.

According to IMS Canada, the annual market for calcineurin inhibitors for the twelve months ended September 30, 2010 was $26.3 million.

About Paladin Labs

Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products. 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 website at www.paladinlabs.com.

About Isotechnika:

Isotechnika is a biopharmaceutical company focused on the discovery and development of immunomodulating therapeutics that are designed to offer key safety advantages over other currently available treatments.

Isotechnika’s shares trade on the Toronto Stock Exchange under the symbol ISA. For more information about Isotechnika, please visit the Company’s website at http://isotechnika.com/

This news release contains 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 Companies consider the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but caution that these assumptions regarding the future events, many of which are beyond the control of the Companies and their 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 reports, as well as in the Companies’ Annual Information Forms for the year ended December 31, 2009. The Companies disclaim any intention or obligation to update or revise any forward-looking statements whether a result of new information, future events, or except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Companies’ ongoing quarterly filings, annual reports and Annual Information Forms and other filings found on SEDAR at www.sedar.com.