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MiddleBrook Pharmaceuticals Engages Morgan Stanley
in Its Strategic Process
GERMANTOWN, Md.
February 14, 2008
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 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.
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