Merrion Pharmaceuticals and Rebel Pharmaceuticals Sign Drug Feasibility and Option Agreement

December 9, 2010

Merrion Pharmaceuticals, Plc (Dublin, Ireland), a product development company, has signed an oral drug delivery feasibility and option agreement with Rebel Pharmaceuticals, LLC (Thousand Oaks, CA) for two undisclosed compounds. Rebel will evaluate the ability of Merrion?s GIPET technology to enhance the compounds? clinical profiles and provide an improved product.

Merrion Pharmaceuticals, Plc (Dublin, Ireland), a product development company, has signed an oral drug delivery feasibility and option agreement with Rebel Pharmaceuticals, LLC (Thousand Oaks, CA) for two undisclosed compounds. Rebel will evaluate the ability of Merrion’s GIPET technology to enhance the compounds’ clinical profiles and provide an improved product.

On successful completion of the feasibility agreement, Merrion and Rebel Pharmaceuticals will enter into license agreements. The financial terms, including milestones and royalties, have already been agreed.

Merrion’s GIPET drug delivery technology is supported by a large database reflecting 21 clinical studies conducted on a broad range of drug types. This database covers a wide range of compounds with varying physiochemical properties and molecular weights and includes traditional small molecules as well as biopharmaceutical peptides and proteins.