Paladin Labs Inc. (TSX:PLB), a leading specialty pharmaceutical company, and
Nuvo Research Inc. (TSX:NRI), a specialty pharmaceutical company dedicated to
building a portfolio of products for the topical treatment of pain and the
development of its immune modulating drug candidate WF10 today announced that
they have completed the amended loan arrangements (the "Loan") the details of
which were previously announced on June 17, 2013. 


Under the terms of the amended arrangements, Nuvo has drawn down a second $4.0
million loan tranche bringing the total amount currently outstanding on the Loan
to $5.9 million. The Loan bears interest at 15% per annum. Paladin has been
issued warrants to acquire 50,000 Nuvo common shares at $1.82 per share being
130% of the 5-day trailing value weighted average trading price ("VWAP") of Nuvo
common shares on the Toronto Stock Exchange. The warrants expire July 10, 2016. 


"This $4.0 million Loan from Paladin together with the $4.5 million upfront
payment received today from Galen US Incorporated from its acquisition of the
exclusive U.S. marketing rights to the current indication of our Synera patch,
have substantially improved our cash position," said Stephen Lemieux, Nuvo's
Vice-President and Chief Financial Officer. "We believe we now have the
financial resources to carry out our business plans through 2014, including
completion of a WF10 Phase 2 study for the treatment of allergic rhinitis which
is a major inflection point for Nuvo."  


"We are pleased to support our partner, Nuvo Research, as it advances the
development of its key assets, in particular WF10," said Mark Beaudet, interim
President and CEO of Paladin Labs. "As a lender to Nuvo, we support the Galen
transaction which strengthens Nuvo's balance sheet." 


About Paladin Labs Inc. 

Paladin Labs Inc., headquartered in Montreal, Canada, is a leading specialty
pharmaceutical company focused on developing, acquiring or in-licensing
innovative pharmaceutical products for the Canadian market. With this strategy,
a focused national sales team and proven marketing expertise, Paladin has
evolved into one of Canada's leading specialty pharmaceutical companies.
Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For
more information about Paladin, please visit the Paladin Web Site at
www.paladinlabs.com.  


About Nuvo Research Inc.

Nuvo is a publicly traded, Canadian specialty pharmaceutical company,
headquartered in Mississauga, Ontario. The Company is building a portfolio of
products for the treatment of pain through internal research and development.
The Company's product portfolio includes Pennsaid(R), Pliaglis and Synera(R).
Pennsaid, a topical nonsteroidal anti-inflammatory drug (NSAID), is used to
treat the signs and symptoms of osteoarthritis of the knee(s). Pennsaid is sold
in the United States by Mallinckrodt Inc., in Canada by Paladin Labs Inc. and in
several European countries. Pliaglis is a topical local anesthetic cream which
provides topical local analgesia for superficial dermatological procedures. The
Company has licensed worldwide marketing rights to Pliaglis to Galderma Pharma
S.A., a global pharmaceutical company specialized in dermatology. Galderma
launched the marketing and sale of Pliaglis in the U.S. in March of 2013 and in
the E.U. in April of 2013. Synera is a topical patch that combines lidocaine,
tetracaine and heat, approved in the United States to provide local dermal
analgesia for superficial venous access and superficial dermatological
procedures and in Europe, for surface anaesthesia of normal intact skin. Nuvo
has licensed the U.S. marketing rights to Synera to Galen US Incorporated.
Nuvo's European licensing partner, Eurocept International B.V., has initiated a
pan-European launch of Synera (under the name Rapydan) in several European
countries. The Company is also developing WF10, for the treatment of immune
related disease.  


Paladin Labs Forward Looking Statement 

This press release may contain forward-looking statements and predictions. These
forward-looking statements, by their nature, necessarily involve risks and
uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. The Company considers the
assumptions on which these forward-looking statements are based to be reasonable
at the time they were prepared, but cautions that these assumptions regarding
the future events, many of which are beyond the control of the Company and its
subsidiaries, may ultimately prove to be incorrect. Factors and risks, which
could cause actual results to differ materially from current expectations, are
discussed in the annual report as well as in the Company's Annual Information
Form for the year ended December 31, 2012. The Company disclaims any intention
or obligation to update or revise any forward-looking statements whether as a
result of new information or future events and except as required by law. For
additional information on risks and uncertainties relating to these
forward-looking statements, investors should consult the Company's ongoing
quarterly filings, annual report and Annual Information Form and other fillings
found on SEDAR at www.sedar.com.


Nuvo Research Forward-Looking Statements

Certain statements in this news release constitute forward-looking statements
within the meaning of applicable securities laws. Forward-looking statements
include, but are not limited to, statements concerning the Company's future
objectives, strategies to achieve those objectives, as well as statements with
respect to management's beliefs, plans, estimates, and intentions, and similar
statements concerning anticipated future events, results, circumstances,
performance or expectations that are not historical facts. Forward-looking
statements generally can be identified by the use of forward-looking terminology
such as "outlook", "objective", "may", "will", "expect", "intend", "estimate",
"anticipate", "believe", "should", "plans" or "continue", or similar expressions
suggesting future outcomes or events. Such forward-looking statements reflect
management's current beliefs and are based on information currently available to
management. Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those contemplated by such
statements. Factors that could cause such differences include the need for
additional financing, the current economic environment, dependence on sales and
marketing partnerships, competitive developments, as well as other risk factors
included in the Company's annual information form dated March 27, 2013 under the
heading "Risks Factors" and as described from time to time in the reports and
disclosure documents filed by the Company with Canadian securities regulatory
agencies and commissions. 


This list is not exhaustive of the factors that may impact the Company's
forward-looking statements. These and other factors should be considered
carefully and readers should not place undue reliance on the Company's
forward-looking statements. As a result of the foregoing and other factors, no
assurance can be given as to any such future results, levels of activity or
achievements and neither the Company nor any other person assumes responsibility
for the accuracy and completeness of these forward-looking statements. The
factors underlying current expectations are dynamic and subject to change.
Although the forward-looking information contained in this news release is based
upon what management believes are reasonable assumptions, there can be no
assurance that actual results will be consistent with these forward-looking
statements. Certain statements included in this news release may be considered
"financial outlook" for purposes of applicable securities laws, and such
financial outlook may not be appropriate for purposes other than this news
release. All forward-looking statements in this news release are qualified by
these cautionary statements. The forward-looking statements contained herein are
made as of the date of this news release and except as required by applicable
law, the Company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future events
or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Paladin Labs Inc.
Samira Sakhia, CPA, CA, MBA
Chief Financial Officer
Tel: 514-669-5367
514-344-4675 (FAX)
Email: info@paladinlabs.com
Website: www.paladinlabs.com


Nuvo Research Inc.
Email : ir@nuvoresearch.com
Website : www.nuvoresearch.com