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NUCRYST and Smith & Nephew Revise Agreements
Date:10/1/2007

ng its patented atomically disordered nanocrystalline silver technology. Smith & Nephew plc sell a range of advanced wound care products under their Acticoat(TM) trade mark: Acticoat(TM) products incorporate NUCRYST's SILCRYST(TM) coatings and are sold in over 30 countries. NUCRYST is also developing new medical products to address conditions that are characterized by infection and inflammation.

Acticoat(TM) is a trademark of Smith & Nephew plc

SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.

This news release contains forward-looking statements within the meaning of applicable securities legislation in the United States and Canada (collectively "forward-looking statements"). The words "would", "will", "determine", "should", "could", "achieve", "expects", "enable", "may", "facilitate" and "plans" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this news release include, but are not limited to, statements about: our strategy, future operations, prospects, plans of management and our ability to successfully achieve significant and sustainable reductions in our costs incurred to produce Acticoat(TM) products by the end of 2009; our expectations regarding our future revenues and expenses; our expectations regarding Smith & Nephew's ability to achieve continued sales growth of the Acticoat(TM) products; our expectations concerning our existing collaboration with Smith & Nephew for the development of new products; our ability to develop future products containing our nanocrystalline silver technology together with Smith & Nephew or alone.

With respect to the forward-looking statements contained in this news release, we have made numerous assumptions regarding among other things: our ability to accurately forecast future revenues; our ability to successfully achieve significant and sustainable reductions
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SOURCE NUCRYST Pharmaceuticals Corp.
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