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To: SofaSpud who wrote (12184)	3/4/2003 4:20:09 PM
From: SofaSpud	Read Replies (1) \| Respond to of 14101

Dimethaid gains final PENNSAID(R) approval in Italy Partner ready to market new osteoarthritis drug TORONTO, March 4 /CNW/ - Dimethaid Research Inc. (TSX: DMX) has received final marketing approval from Italian regulatory authorities for PENNSAID, the company's first commercial product based on its patented transcellular technology. PENNSAID is a topical, nonsteroidal anti-inflammatory drug (NSAID) for treating the pain, stiffness and impaired physical function associated with osteoarthritis. The drug will be available by prescription, only. "This is another milestone for the company," commented Rebecca Keeler, President and CEO, Dimethaid Research Inc. "Our agreement with Italchimici gives us access to local opinion leaders who understand the product and how it fits into the overall treatment of osteoarthritis, as currently practiced by Italian physicians." In May 2002, Dimethaid signed a distribution agreement with Italchimici SpA, a privately owned, fully integrated pharmaceutical company headquartered in Pomezia, Italy. As part of a European pharmaceutical alliance, Italchimici offers Dimethaid the marketing expertise to address local payment and reimbursement systems, prescribing habits, attitudes, culture and language. "Given the product's unique delivery system and well-documented efficacy and safety, we think PENNSAID represents an important opportunity for us," said Bill Garrow, CEO, Italchimici SpA. "Over the last several months, Italchimici has identified a significant target market, which our sales force is ready to start covering, immediately." Dimethaid's topical technology is designed to deliver active drug through the skin, providing an alternative to oral medications, which depend on bloodstream circulation. The Company believes that PENNSAID has the potential to compete against both topical and oral NSAIDs. In Italy, spending on oral NSAIDS, which can be used for a variety of arthritic conditions, totals approximately (euro) 373 million. Topicals account for another (euro) 100 million. Osteoarthritis is generally recognized as the predominant form of arthritis and the world's most common joint disease. PENNSAID has marketing approval in the U.K. and several European countries. It has been granted an approvable letter in Canada, and it is currently under review by the Food and Drug Administration in the United States. In other developments, Dimethaid has increased the amount borrowed pursuant to the short-term loan arranged in December, by an additional $1.0 million CDN. The proceeds will be used for general corporate purposes, including the Canadian launch of PENNSAID. The company is also continuing to work with regulators in finalizing a rights offering and has scheduled a hearing before the Ontario Securities Commission (OSC) to resolve issues relating to the offering. The hearing will take place on March 7, 2003 at 9:15 am at the offices of the OSC. Shareholders will be notified once all outstanding issues have been resolved. About Dimethaid Research Inc. Dimethaid Research Inc. is a publicly traded, Canadian, pharmaceutical company headquartered in Markham, Ontario, with manufacturing facilities in Varennes, Québec and Wanzleben, Germany. The company develops and commercializes targeted therapeutic drugs designed to produce minimal side effects. Dimethaid's two technology platforms focus on transcellular drug delivery and immune system regulation. Products have potential applications in such areas as osteoarthritis, onychomycosis and HIV/AIDS. For more information, please visit www.dimethaid.com About Italchimici SpA Italchimici SpA is a private pharmaceutical company headquartered in Pomezia, Italy, near Rome. The company has over 105 sales representatives detailing general practitioners and specialists with a therapeutic focus on gastroenterology, rheumatology and respiratory conditions. This release may contain forward-looking statements, subject to risks and uncertainties beyond management's control. Actual results could differ materially from those expressed here. Risk factors are discussed in the Company's annual information form filed with the securities commissions in each of the provinces of Canada. The Company undertakes no obligation to revise forward-looking statements in light of future events.