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MiddleBrook Pharmaceuticals Raises Up to $10 Million from Deerfield Management
Date:11/7/2007

Agreement Provides Additional Financial Flexibility to Ongoing Strategic

Exploration Process

GERMANTOWN, Md., Nov. 7 /PRNewswire-FirstCall/ -- MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK), a pharmaceutical company focused on developing and commercializing novel anti-infective products, announced an agreement with Deerfield Management, a healthcare investment fund and one of the Company's largest equity shareholders, raising up to $10 million in cash.

Under the terms of the agreement, $7.5 million will be immediately received by the Company with an additional $2.5 million to become available, if necessary, if and when the Company receives U.S. Food and Drug Administration (FDA) approval of Amoxicillin PULSYS. The agreement is designed to provide the Company with the financial flexibility to continue its ongoing strategic discussions beyond the PDUFA date for Amoxicillin PULSYS. The cash provided from the Deerfield agreement will also allow MiddleBrook to repay in full its outstanding loan facility with Merrill Lynch and eliminate the associated interest and principal payments.

"We are pleased to enter into this agreement with Deerfield as it provides us with the financial flexibility to continue our strategic discussions beyond the Amoxicillin PULSYS PDUFA date," commented Dr. Edward Rudnic, MiddleBrook president and CEO. "This agreement will also allow us to repay our loan facility with Merrill Lynch which has restricted our use of cash and other corporate assets."

MiddleBrook also announced that its process to explore strategic alternatives is still ongoing and may extend beyond the Company's expected Amoxicillin PULSYS FDA action date of January 23, 2008. Midd
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SOURCE MiddleBrook Pharmaceuticals, Inc.
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