PRESS RELEASE

BurnsAdler Pharmaceuticals, Inc. Licenses NeoVisc® from Stellar International, Inc.

Charlotte, North Carolina – (June 30, 2003) – BurnsAdler Pharmaceuticals, Inc. (“BurnsAdler”), an international pharmaceutical company, announced today that they have entered into a ten year licensing agreement with Stellar International, Inc. (“Stellar”) to market NeoVisc® (Sterile Sodium Hyaluronate Solution 1.0%) in South America, Central America and the Caribbean.  Used for the treatment of osteoarthritis in the knee, shoulder or hip, NeoVisc® is indicated as a replacement/replenishment for synovial fluid.  NeoVisc®, introduced in Canada in 1997, has quickly become one of the fastest growing viscosupplements.  In the US market, the use of viscosupplements has grown to over $500 million dollars annually since their introduction in late 1997.

“BurnsAdler has a well established distribution network in place that has the ability to successfully launch NeoVisc® in South America, Central America and the Caribbean. BurnsAdler’s experience is such that they will maintain NeoVisc®’s excellent reputation as a high quality viscosupplement provided at the best available price to the end user. These product benefits will allow BurnsAdler and their in-country partners to capitalize on pent-up demand for cost effective viscosupplements. We look forward to building a long-term working relationship with BurnsAdler.  This agreement reflects our strategy to license our proprietary products into the global market place,” stated Peter Riehl, Stellar’s President and Chief Executive Officer.

Banks Bourne, President of BurnsAdler remarked, “NeoVisc® represents an excellent niche opportunity in these markets and we are excited to add the product to our Latin American portfolio.  NeoVisc® offers patients a more cost effective alternative to the current viscosupplements in the treatment of osteoarthritis and we are pleased to work together with the management team at Stellar on the international launch.”  

BurnsAdler is an internationally focused specialty pharmaceutical company that provides cost effective product distribution and promotion for select emerging pharmaceutical companies. BurnsAdler creates long term, exclusive agreements which grant it the right to license, supply and market products wherever their partners are interested in generating additional revenue and profit.  The Company focuses on promoting products in Europe, South America, Latin America, Far East, Canada and the Caribbean.

Stellar International has developed and is marketing three products in Canada based on its core polysaccharide technology: NeoVisc®, for the treatment of osteoarthritis, Uracyst-S® and Uracyst® Test Kit, Stellar’s patented technology for the diagnosis and treatment of Interstitial Cystitis (IC), an inflammatory disease of the urinary bladder wall. The Uracyst® treatment for IC is a cost effective product and has demonstrated an excellent symptomatic response.

BurnsAdler provides cost effective international product distribution and promotion for select emerging pharmaceutical companies.

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