Nuvo Research responds to increased trading activity

    MISSISSAUGA, ON, June 9 /CNW/ - Nuvo Research Inc. (TSX: NRI), today
responded to a request from the Investment Industry Regulatory Organization of
Canada (IIROC) on behalf of the Toronto Stock Exchange following recent
trading activity of Nuvo shares.
    While it is Nuvo's policy not to comment on market rumours or
speculation, at the request of IIROC, Nuvo is confirming that, as previously
disclosed, it continues to be in various stages of licensing discussions with
pharmaceutical companies possessing sales and distribution capabilities for
the marketing of Pennsaid(R) and Pennsaid Plus(R) in the United States and
other territories.
    Certain of these discussions have progressed meaningfully over the last
several weeks. However, while these discussions are ongoing and Nuvo is
optimistic that it will be able to conclude a licensing agreement, there
currently is no agreement in respect of licensing and there can be no
assurances that such an agreement will be reached or, if an agreement is
reached, its terms or timing.
    Consistent with Nuvo's policy, it does not intend to comment on further
rumours or speculation.

    About Nuvo Research Inc.

    Nuvo is focused on the research and development of drug products
delivered to and through the skin using its topical and transdermal drug
delivery technologies. Nuvo's lead product is Pennsaid(R), a topical
non-steroidal anti-inflammatory drug (NSAID), used for the treatment of the
signs and symptoms of osteoarthritis of the knee. Nuvo intends to leverage its
skin-penetrating technologies to create a portfolio of topical and transdermal
products targeting a variety of indications.
    Nuvo Research Inc. is a publicly traded, Canadian pharmaceutical company
headquartered in Mississauga, Ontario, with manufacturing facilities in
Varennes, Québec and Wanzleben, Germany and a research and development Center
in San Diego, California. For more information, please visit

    This document contains forward-looking statements. Some forward-looking
statements may be identified by words like "expects", "anticipates", "plans",
"intends", "indicates" or similar expressions. 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. Nuvo considers 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 future events, many of
which are beyond the control of the Company, 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 report, as
well as in Nuvo's Annual Information Form for the year ended December 31,
2008. Nuvo disclaims any intention or obligation to update or revise any
forward-looking statements whether a result of new information or future
events, except as required by law. For additional information on risks and
uncertainties relating to these forward-looking statements, investors should
consult the Company's ongoing quarterly filings, annual report and Annual
Information Form and other filings found on SEDAR at

For further information:

For further information: about Nuvo, please contact: Media and Investor
Relations, Adam Peeler, Equicom Group Inc., Tel: (416) 815-0700 x225, email:

Organization Profile

Nuvo Research Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890