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Nuvo announces 2009 first quarter financial results
Date:4/30/2009

MISSISSAUGA, ON, April 30 /PRNewswire-FirstCall/ - Nuvo Research Inc. (TSX: NRI), a Canadian drug development company focused on the research and development of drug products that are delivered to and through the skin using its topical and transdermal drug delivery technologies, today announced its financial and operational results for the quarter ended March 31, 2009.

    Recent Corporate Developments:

    -   Successfully completed all Pennsaid(R) studies necessary to resubmit
        the application for Pennsaid approval to the United States Food and
        Drug Administration (FDA). The FDA confirmed that it has accepted
        this filing as a complete response to its Approvable Letter for
        Pennsaid dated December 28, 2006 and pursuant to the Prescription
        Drug User Fee Act provided the Company with a date of August 5, 2009
        (the PDUFA Date) by which the FDA intends to advise Nuvo on
        Pennsaid's approvability

    -   Received net proceeds of $3.7 million from the exercise of warrants
        under the warrant incentive program

    -   Was awarded the bronze medal in the Science and Medical category of
        the 2009 Edison Awards for the Company's High Throughput
        Experimentation platform

    -   Was advised that PAIN(R) , the world's leading publication on pain
        research and treatments and the official journal of the International
        Association for the Study of Pain will be publishing an article
        outlining the successful results of the Company's 112 efficacy trial
        in its June 2009 issue

"With our PDUFA Date rapidly approaching, we remain highly optimistic about Pennsaid's potential for approval and are continuing discussions with potential United States licensing partners," said Henrich Guntermann, President and Chief Executive Officer of Nuvo Research.

    Financial Results:
    (thousands of Canad
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SOURCE  Nuvo Research Inc.
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