Bradmer completes $23.1 million offering



    /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
    SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

    TSX: BMR

    TORONTO, June 22 /CNW/ - Bradmer Pharmaceuticals Inc. (TSX: BMR)
announced today that it has issued and sold an aggregate of 5,786,869 units,
for gross proceeds to the company of $23,147,476, pursuant to its previously
announced public offering. The units were sold through a syndicate of
underwriters led by Dundee Securities Corporation and including Blackmont
Capital Inc., Clarus Securities Inc., Versant Partners Inc. and Orion
Securities Inc. Each unit consisted of one common share of the company and
one-half of one common share purchase warrant. Each whole warrant entitles the
holder thereof to purchase one additional common share of the company at a
price of $5.60 at any time on or before 5:00 p.m. (Toronto time) on June 22,
2011. The over-allotment option granted to the underwriters was exercised in
part on the closing of the offering.
    Bradmer intends to use the net proceeds of the offering to fund the
further development of its lead drug, Neuradiab, including, assuming receipt
of U.S. Food and Drug Administration and other requisite regulatory approvals,
the company's proposed Phase III clinical trial of Neuradiab in the management
of patients with glioblastoma multiforme (GBM), as well as for general
corporate purposes.
    The units, common shares and warrants offered have not been registered
under the U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.

    About Bradmer Pharmaceuticals Inc. (www.bradmerpharma.com)

    Bradmer Pharmaceuticals is a biopharmaceutical company focused on the
development and commercialization of new and innovative cancer therapies.
Bradmer's lead clinical candidate, Neuradiab, was developed at Duke University
Medical Center as a proprietary therapy for a particularly aggressive form of
brain cancer, glioblastoma multiforme. To date, over US$60 million in grants
and related support has driven research and development of the licensed
treatment, which has been delivered to over 200 patients with promising
results and has completed Phase II clinical trials at Duke University. Bradmer
is currently in the process of organizing a pivotal multi-center clinical
trial of the licensed treatment. Neuradiab has been granted Orphan Drug Status
by both the U.S. Food and Drug Administration and the European Medicines
Agency.

    Bradmer Pharmaceuticals Inc.'s common shares have not been registered
under the Securities Act of 1933, as amended (the "Securities Act") or any
state regulatory agency in the United States. The resale or transfer by a U.S.
investor of such common shares of Bradmer Pharmaceuticals Inc. is subject to
the requirements of Rule 904 of Regulation S of the Securities Act or such
other applicable exemption thereunder, and other applicable state securities
laws.

    This press release contains forward-looking statements regarding the
proposed use of proceeds of the offering. Actual developments may differ
materially from those contemplated by these statements depending upon, among
other things, the ability of the agent to raise the funds and decisions made
by regulators. The forward looking statements contained in this press release
represent the Company's views and expectations as of the date of this release
and should not be relied upon as representing its views and expectations at
any subsequent date.





For further information:

For further information: Bradmer Pharmaceuticals Inc., Mr. Brian
Brohman, Chief Financial Officer, Phone: (416) 361-6058 (Ext. 804), E-mail:
bbrohman@bradmerpharma.com, Internet: www.bradmerpharma.com; Investor
Relations, Ross Marshall, The Equicom Group Inc., Phone: (416) 815-0700 (Ext.
238), Fax: (416) 815-0080, E-mail: rmarshall@equicomgroup.com

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BRADMER PHARMACEUTICALS INC.

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