GERMANTOWN, Md., Feb. 14 /PRNewswire-FirstCall/ -- MiddleBrook
Pharmaceuticals, Inc. (Nasdaq: MBRK), a pharmaceutical company focused on
developing and commercializing novel anti-infective products, today
announced that it has engaged Morgan Stanley as its strategic advisor in
connection with the Company's ongoing process to explore strategic
alternatives.
As previously announced, in 2007, MiddleBrook's board of directors
authorized the Company to evaluate various strategic alternatives to
further enhance shareholder value. Since that time, MiddleBrook has been
involved in the process of evaluating a full range of strategic
alternatives available to the Company. Pacific Growth Equities, LLC will
act as co-advisor with Morgan Stanley in MiddleBrook's ongoing strategic
process.
Strategic alternatives the Company may pursue could include, but are
not limited to, continued execution of the Company's operating plan, the
sale of Company assets, partnering or other collaboration agreements, or a
merger, sale of the Company or other strategic transaction. There can be no
assurance that the exploration of strategic alternatives will result in any
agreements or transactions, or that, if completed, any agreements or
transactions will be successful or on attractive terms. The Company does
not intend to disclose developments with respect to this process unless and
until the evaluation of strategic alternatives has been completed.
ABOUT MIDDLEBROOK PHARMACEUTICALS:
MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK) is a pharmaceutical
company focused on the development and commercialization of anti-infective
drug products that fulfill substantial unmet medical needs in the treatment
of infectious disease. The Company is developing anti-infective drugs based
on its novel biological finding that bacteria exposed to antibiotics in
front- loaded staccato bursts, or "pulses," are killed more efficiently and
effectively than those under standard treatment regimens. Based on this
finding, MiddleBrook has developed a proprietary, once-a-day pulsatile
delivery technology called PULSYS(TM). The Company currently markets the
Keflex(R) brand of cephalexin and has received regulatory approval for
MOXATAG(TM) - the first and only once-daily amoxicillin product approved
for marketing in the U.S. For more on MiddleBrook, please visit
http://www.middlebrookpharma.com.
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
statements are based on MiddleBrook's current expectations and assumptions.
These statements are not guarantees of future performance and are subject
to a number of risks and uncertainties that would cause actual results to
differ materially from those anticipated. The words, "believe," "expect,"
"intend," "anticipate," and variations of such words, and similar
expressions identify forward-looking statements, but their absence does not
mean that the statement is not forward- looking. Statements in this
announcement that are forward-looking include, but are not limited to,
statements about the Company's future development plans, clinical trials,
potential commercial success, and any financial forecasts included in this
announcement.
The actual results realized by MiddleBrook could differ materially from
these forward-looking statements, depending in particular upon the risks
and uncertainties described in the Company's filings with the Securities
and Exchange Commission. These include, without limitation, risks and
uncertainties relating to the Company's financial results and the ability
of the Company to (1) raise additional capital and continue as a going
concern, (2) increase Keflex 750 sales, (3) retain marketing approval for
its MOXATAG product, (4) successfully reduce costs, (5) reach
profitability, (6) prove that the preliminary findings for its product
candidates are valid, (7) receive required regulatory approvals, (8)
successfully conduct clinical trials in a timely manner, (9) establish its
competitive position for its products, (10) develop and commercialize
products that are superior to existing or newly developed competitor
products, (11) develop products without any defects, (12) have sufficient
capital resources to fund its operations, (13) protect its intellectual
property rights and patents, (14) implement its sales and marketing
strategy, (15) successfully attract and retain collaborative partners, (16)
successfully commercialize and gain market acceptance for its Keflex
products, (17) successfully obtain sufficient manufactured quantities of
its drug products at acceptable rates, and (18) retain its senior
management and other personnel. Existing and prospective investors are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of today's date. MiddleBrook undertakes no obligation
to update or revise the information in this announcement, whether as a
result of new information, future events or circumstances or otherwise.
SOURCE MiddleBrook Pharmaceuticals, Inc.
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Related links:
http://www.middlebrookpharma.com/
CONTACT:
Robert Bannon, Vice President, Investor
Relations & Corporate Communications, MiddleBrook
Pharmaceuticals, Inc., +1-301-944-6710,
rbannon@middlebrookpharma.com
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