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Nile Therapeutics to Transition to OTCQB Marketplace
Date:5/11/2011

and reporting with the Securities and Exchange Commission. The Company expects its common stock will continue to trade under the "NLTX" symbol on the computerized OTCQB system. Investors will be able to view Level II Real Time stock quotes for Nile at http://www.otcmarkets.com.

About Nile Therapeutics

Nile Therapeutics, Inc. is a biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical needs. Nile is initially focusing its efforts on developing its lead compound, cenderitide, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure, and CU-NP, a novel rationally designed natriuretic peptide. More information on Nile can be found at http://www.nilethera.com.

Safe Harbor Paragraph for Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Nile's transition from The Nasdaq Capital Market to the OTCQB Marketplace, including the timing of trading of and the prospects for a market developing for Nile's securities on the OTCQB, are forward-looking statements. Nile may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on Nile's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Nile makes. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that Nile makes include Nile's need to raise additional capital to fund its product development program
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SOURCE Nile Therapeutics, Inc.
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