Ondine Biopharma announces C$5.5 million private placement equity financing


    VANCOUVER, Nov. 22 /CNW/ - Ondine Biopharma Corporation (TSX: OBP;
AIM: OBP) a medical technology company developing photodisinfection based
products, today announced it intends to issue, via a non-brokered private
placement (the "Offering"), 5,000,000 units at a price of $1.10 per unit for
aggregate gross proceeds of C$5.5 million to a small number of accredited
    Each unit will consist of one common share and one-half of one common
share purchase warrant. Each whole warrant will entitle the holder thereof to
purchase one common share at a price of $1.25 for a period of two years from
the closing date of the Offering. The common shares issued under the Offering
will be subject to a four month hold period from the closing date under
Canadian Securities legislation.
    The proceeds will be used for the continued research and development of
new products based on the Company's photodisinfection technology, for working
capital, and for general corporate purposes. The completion of the offering is
subject to certain conditions including, but not limited to, the receipt of
all necessary approvals including the approvals of the Toronto Stock Exchange
and AIM.
    This press release does not constitute an offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The securities
have not been and will not be registered under the U.S. Securities Act or any
state securities laws and may not be offered or sold within the United States
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.

    About Ondine Biopharma Corporation

    Ondine is developing non-antibiotic therapies for the treatment of a
broad spectrum of bacterial, fungal and viral infections. The Company is
focused on creating and commercializing leading edge products utilizing its
patented light-activated technology. Photodisinfection provides broad-spectrum
antimicrobial efficacy without encouraging the formation and spread of
antibiotic resistance. The Company is headquartered in Vancouver, British
Columbia, Canada, with a research laboratory in Bothell, Washington, USA, and
an international office in St. Michael, Barbados. For additional information,
please visit the Company's website at: www.ondinebiopharma.com.

    The TSX Exchange has not reviewed and does not accept responsibility for
    the adequacy or accuracy of this release.

For further information:

For further information: Carolyn Cross, President and Chief Executive
Officer, Ondine Biopharma Corporation, (604) 669-0555,
ccross@ondinebiopharma.com; Irma Gomez-Dib, Media & Investors Relations, FD
International, (212) 850-5761, Irma.gomez-dib@fd.com; Christina Bessant,
Investor Relations, The Equicom Group Inc., (416) 815-0700 ext. 269,
cbessant@equicomgroup.com; Nominated Adviser, Neil Johnson, Ryan Gaffney,
Canaccord Adams Ltd, +44(0)20 7050 6500

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