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NicOx' Naproxcinod ABPM Data Presented at American Heart Association
Date:11/7/2007

se compounds in the reverse order. Subjects received a 2 week placebo wash-out before and in between the active treatment periods. Eligible subjects were between 50 and 75 years of age, in order to be representative of the osteoarthritis population, and 71.8% were over 65 years of age. Eligible subjects had controlled hypertension, defined as SBP inferior to 150 mmHg and/or DBP inferior to 95 mmHg and were treated for their hypertension by drugs from no more than 2 different antihypertensive drug classes at stable doses at screening. Eligible patients were not current NSAID users.

ABPM involves using a portable device to independently measure and record blood pressure at frequent intervals over a 24-hour period with minimal disruption of the subject's daily activity. In this trial, a 24-hour ABPM was performed at the start and following each of the two active treatment periods. During the 24-hour period, blood pressure measurements were taken at 20-minute intervals between 6:00 am and 10:00 pm and every hour from 10:01 pm to 5:59 am. In total four 24-hour ABPM measurements were taken per subject.

About naproxcinod

Naproxcinod, NicOx' lead investigational product, is in phase 3 clinical development for the treatment of the signs and symptoms of osteoarthritis. Results from the first pivotal phase 3 study (the 301 study) showed that naproxcinod has superior efficacy compared to placebo and no detrimental effect on blood pressure, in contrast to the existing anti-inflammatory agent naproxen. The two remaining pivotal phase 3 trials for naproxcinod are currently ongoing (302 and 303) and patients are undergoing standardized blood pressure measurements at each visit to the treatment center in these studies (Office Blood Pressure Measurements, OBPM). The Company expects to report the 302 and 303 efficacy results in mid-2008 and will conduct a predefined statistical analysis on the pooled OBPM data from the three phase 3 studies (301, 302 and 303), follow
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