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Replidyne Terminates Faropenem Agreements
Date:6/23/2008

LOUISVILLE, Colo., June 23 /PRNewswire-FirstCall/ -- Replidyne, Inc. (Nasdaq: RDYN) today announced that it has decided to terminate its license agreement with Asubio Pharma Co., Ltd. for faropenem medoxomil (faropenem). In conjunction with this decision, the Company also announced that it has terminated its supply agreement with Asubio Pharma Co., Ltd. and Nippon Soda Co. Ltd. for production of faropenem. These decisions were made as a result of the Company being unable to secure a partner for the faropenem program. As previously announced, Replidyne had discontinued clinical development of faropenem pending the outcome of discussions with potential partners for the program.

As a result of today's decision, the Company expects to incur charges of up to Japanese Yen 440 million (approximately $4.1 million), consisting of a license termination fee of up to Japanese Yen 375 million (approximately $3.5 million) to Asubio Pharma Co., Ltd. and the reimbursement of engineering costs under its supply agreement of up to Japanese Yen 65 (approximately $0.6 million) to Nippon Soda Co. Ltd. Replidyne will also pay Nippon Soda Co. Ltd. Japanese Yen 99 million (approximately $0.9 million) for delay compensation related to the period from January 1, 2008 through the termination of its supply agreement.

"We are clearly disappointed that we have been unable to identify a partner for the faropenem program," stated Kenneth J. Collins, President and Chief Executive Officer of Replidyne. "We have decided to terminate this program in order to preserve cash and focus our attention on our previously discussed strategic initiatives and our C. difficile Infection (CDI) program and novel anti-infective programs based on DNA replication inhibition tec
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SOURCE Replidyne, Inc.
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