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Graceway Pharmaceuticals, LLC(TM) Announces Completed Acquisition of All Assets Related to Estrasorb(R) Product Line in North America From Allergan, Inc. (NYSE: AGN) and Novavax, Inc. (Nasdaq: NVAX)
Date:2/19/2008

BRISTOL, Tenn., Feb. 19 /PRNewswire/ -- Graceway Pharmaceuticals, LLC ("Graceway"), a portfolio company of GTCR Golder Rauner, LLC, announced today that it has acquired all of the assets related to Estrasorb(R) (estradiol topical emulsion) in North America from Novavax, Inc. ("Novavax") (Nasdaq: NVAX) and Allergan, Inc. ("Allergan") (NYSE: AGN). Estrasorb is indicated for the treatment of moderate to severe vasomotor symptoms associated with menopause and is available by prescription only.

The agreements between Novavax and Graceway provide for the sale by Novavax of the patent associated with the product, the sale of other intellectual properties (including trademarks, copyrights, know-how and related assets), and the sale of all production and packaging equipment related to Estrasorb. Graceway will license back to Novavax rights to its micellar nanoparticle technology for application in fields unrelated to Estrasorb. The license is free of royalties. Novavax and Graceway have also executed a supply agreement under which Novavax will manufacture additional finished goods of Estrasorb for a limited period.

In a separate but related transaction, Graceway has also purchased from Allergan the New Drug Application for the Estrasorb product, raw material and finished goods inventories, and any tangible and intangible assets related to the product. Simultaneous with the transaction between Novavax and Graceway, Allergan has terminated all of its previously licensed rights to commercialize the product. Following
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