Mayne Pharma Acquires Remaining Nipent® Rights

Mayne Pharma Acquires Remaining Nipent ® Rights Mayne Pharma Acquires Remaining Nipent ® Rights   MELBOURNE, Australia, and DUBLIN, Calif., Nov. 27 /PRNewswire-FirstCall/ -- Mayne Pharma Ltd. (ASX: MYP) and SuperGen Inc. (Nasdaq: SUPG) announced today that Mayne has agreed to acquire the remaining worldwide rights to Nipent ® (pentostatin for injection) for a total consideration of US $8 million. SuperGen will receive approximately US $3.75 million upfront when the transaction closes. The balance of the purchase price includes US $1.25 million of payments contingent on key events and the remaining US $3 million is payable over a five -year period on the anniversary of the closing date. The transaction is subject to customary closing conditions and regulatory approval. Nipent® is approved for patients with hairy -cell leukaemia. Sales of Nipent® in Europe last year were almost US $5 million with France, Germany, Greece, Italy and UK being the key markets. In August 2006 Mayne Pharma acquired the North American rights to Nipent® from SuperGen, for a total consideration of US $34 million. Commenting on today's announcement, Mayne Pharma's Head of Commercial Operations for Europe Middle -East and Africa, Mike Kotsanis, said, "This acquisition is in -keeping with our strategy, announced last May, to acquire niche marketed or close - to-market proprietary products that strengthen our oncology focus across Europe and raise Mayne Pharma's profile with key customers and opinion leaders." "The transaction marks the completion of SuperGen's transition to a targeted drug discovery and development company that is powered by a strong balance sheet and a well -fuelled royalty and milestone financial engine," said Dr. James S. Manuso, SuperGen's chairman, president and chief executive officer. "The transition of the Nipent ® North American franchise to Mayne Pharma was very efficient. We expect the same with respect to transitioning this remaining franchise." About SuperGen Based in Dublin, Calif., SuperGen is a pharmaceutical company dedicated to the discovery, acquisition, rapid development and commercialization of therapies for solid tumors and hematological malignancies. SuperGen is developing a number of therapeutic anticancer products focused on inhibitors of aurora -A, tyrosine kinase and DNA methyltransferase. For more information about SuperGen, please visit http://www.supergen.com. About Mayne Pharma Mayne Pharma Ltd. is a specialty pharmaceutical company focused on developing, manufacturing and selling a comprehensive range of products to oncology customers in more than 65 countries around the world. The company seeks to augment its growth by accessing additional marketed or development - stage products either through acquisition or partnership. Mayne Pharma generated sales of more than A$800 million in its financial year ended June 30, 2006, and is listed on the Australian Stock Exchange under the symbol 'MYP.' For more information about Mayne Pharma, please visit http://www.maynepharma.com. This news release contains certain "forward -looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are typically preceded by words such as "believes," "expects," "anticipates," "intends," "will," "may," "should," or similar expressions. These forward -looking statements are not guarantees of future performance and involve a number of risks and uncertainties that may cause actual results to differ materially from the results discussed in these statements. Factors that might cause the company's results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the ability to conclude negotiations on the sale of Nipent, the achievement of royalties or milestones from the Dacogen licensure, and other risks and uncertainties detailed from time to time in the company's filings with the Securities and Exchange Commission including its most recently filed Form 10 -Q and 10-K. SuperGen Inc. undertakes no duty to update any of these forward -looking statements to conform them to actual results. Contacts: Mayne Pharma Andrew Rowe Vice President Investor Relations Mob: +44 7920 598 353 Teresa La Thangue Media Relations Manager Mob: + 44 7920 598 352 Sue Cato Cato Counsel Mob: + 61 419 282 319 Matt Horan Cato Counsel Mob: + 61 403 934 958 SuperGen/EuroGen Timothy L. Enns S.V.P., Corporate Communications & Business Development Ph: (925) 560 0100 x 111 Email: [email protected] Noonan Russo Sharon Weinstein Ph: (212) 845 -4271 (Investors) Email: [email protected] Tracey Milani Ph: (858) 546 4811 (Media) Email: [email protected] SOURCE SuperGen Inc. 11/27/2006 Web site: http://www.supergen.com http://www.maynepharma.com (SUPG) 5933 11/27/2006 08:00 EST http://www.prnewswire.com

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