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Ondine Biopharma Announces Sinuwave Technologies Spinout
Date:6/30/2010

Ondine Biopharma Corporation, a medical technology company developing photodisinfection based products, today announced its intention to establish a wholly owned subsidiary, “Sinuwave Technologies Corporation”, dedicated to the development and commercialization of photodisinfection based products that address the chronic sinusitis market. The subsidiary will license technology developed by Ondine Biopharma over the past ten years and will leverage product development and clinical and regulatory experiences of the Ondine Biopharma and Advanced Photodynamic Therapy teams.

(Vocus) June 30, 2010 -- Ondine Biopharma Corporation (the "Company" or "Ondine") (TSX:OBP)(AIM:OBP) a medical technology company developing photodisinfection based products, today announced its intention to establish a wholly owned subsidiary, "Sinuwave Technologies Corporation", dedicated to the development and commercialization of photodisinfection based products that address the chronic sinusitis market. The subsidiary will license all relevant Ondine intellectual property and know-how for this application, including technology internally developed over the past ten years and technology obtained in Ondine's December 2009 acquisition of Advanced Photodynamic Technologies Inc. ("APT"). Sinuwave Technologies will leverage the product development, clinical and regulatory experiences of both the Ondine and APT teams.

"We believe the powerful antimicrobial and anti-inflammatory benefits of Ondine's photodisinfection technology have the potential to provide substantial relief to persons who suffer from chronic sinusitis," says Carolyn Cross, Chairman & CEO of Ondine Biopharma Corporation. "Over 43 million people in North America suffer from sinusitis. There are over 450,000 patients for whom sinus surgeries and antibiotics have been unsuccessful. We
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