Deprenyl Research Ltd. deal

DEPLF and generic drug company Novopharm Ltd., agreed to exchange the marketing rights to several products. Novopharm will market a generic version of Eldepryl to treat Parkinson's disease, while DEPLF will sell two undisclosed neurological products in Canada, one to treat multiple sclerosis and another to treat brain and spinal cord injury. Martin Barkin, president and CEO at DEPLF, said the neural products are about 18 months from Canadian approval. DEPLF also will sell a Novopharm dermatology product in Canada, which Barkin said is about six months from approval.

Novopharm will purchase 1.2 million shares of DEPLF at C$2.55 per share, or C$3 million. After the deal, DEPLF will have 19 million shares outstanding. ...