LA JOLLA, CA--(Marketwire - October 01, 2007) - Transdel Pharmaceuticals, Inc. (OTCBB: TDLP), a specialty pharmaceutical company focused on the development and commercialization of non-invasive topically targeted medications, today announced the completion of a merger transaction and the commencement of trading under the symbol “TDLP” on the Over the Counter Bulletin Board. In connection with the merger on September 17, 2007, the Company raised $4.0 million through the sale of common stock and warrants. In addition, in June 2007, the Company completed a raise of $1.5 million through the sale of notes, all of which converted into approximately 1.5 million shares of common stock in connection with the merger. After accounting for the merger and financings, the Company currently has approximately 13.4 million shares of common stock outstanding. The proceeds from these financings will be used for the further development of the Company’s lead drug, Ketotransdel™, a novel topical cream based non-steroidal anti-inflammatory drug (“NSAID”) for pain.
