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VALERA PHARMACEUTICALS ANNOUNCES EUROPEAN DISTRIBUTION PARTNERSHIP

July 21, 2006

Valera Pharmaceuticals, Inc. announced a partnership with Spepharm Holding B.V. for the exclusive marketing and distribution rights to VANTAS and SUPPRELIN-LA in the European Union, Switzerland and Norway. Spepharm is a newly created entity backed by two leading life science investment firms TVM Capital and Sanders Morris Harris Inc.

Genetic Engineering News (http://www.genengnews.com/news/bnitem.aspx?name=3462296)