Equidyne Corporation and Rosch AG Announce Worldwide Agreement With Pharmacia Corporation

Business Wire, Jan 26, 2001

Business Editors and Health/Medical Writers

SAN DIEGO--(BW HealthWire)--Jan. 26, 2001

-INJEX(TM)System to be Used With Pharmacia's Recombinant Growth

Hormone, GENOTROPIN in 60 Countries-

EQUIDYNE CORPORATION (AMEX:IJX) announced today an exclusive world-wide agreement between Equidyne Corporation, Rosch AG Medizintechnik and Pharmacia Corporation to sell the INJEX(TM) Needle-Free Injection System for use with Pharmacia's growth hormone product, GENOTROPIN (somatropin; rDNA origin). GENOTROPIN, first introduced in 1987, is the world's leading brand of growth hormone and is marketed in more than 60 countries around the world. Under the terms of the agreement, Pharmacia Corporation (Stockholm, Sweden) has exclusive rights to use the INJEX(TM) System with its GENOTROPIN until 2006, and the agreement may be extended for additional two-year periods.

J. Randall Nelson, Chairman and Chief Executive Officer, stated, "We are very excited about this worldwide agreement between Equidyne and Rosch AG, and Pharmacia Corporation. Pharmacia is clearly the global leader in the marketing of human growth hormone with its GENOTROPIN. The market for this group of medications, which are administered primarily to children, is nearly $1 billion worldwide. We believe this agreement is the breakthrough that emphasizes the versatility of use, comfort and economy of the INJEX(TM) System and is the precursor to more pharmaceutical partnerships."

Equidyne Corporation (www.equidyne.com), through Equidyne Systems, Inc., a wholly owned subsidiary based in San Diego, California, is focused on becoming the worldwide leader in needle-free drug delivery systems for subcutaneous and intramuscular injections. The INJEX(TM) needle-free injector is a compact, uncomplicated device that delivers a virtually painless injection through the skin in a fraction of a second, and eliminates needle stick and disposal problems. For medications requiring injection, we believe the INJEX(TM) System is by far the most comfortable and economical product on the market.

The statements contained in this news release that are not purely historical are forward-looking statements that may involve risks and uncertainties. The Company's actual results may differ significantly from the results contained in the forward-looking statements. Factors that might cause such differences include, but are not limited to, the effect of losses and other factors on the Company's business and results of operations; the Company's capital resources and its ability to fulfill its existing obligations and ongoing capital needs; risks associated with excess or obsolete inventory; the potential impairment of assets; delays in product introductions; changes in healthcare regulations and the ability to obtain favorable insurance reimbursement coverage for the Company's products; product acceptance or changes in government regulation of the Company's products; the Company's ability to manufacture its products in sufficient quantities to meet the demands of the marketplace; the Company's dependence on key customers and suppliers and their financial viability; the impact of competition; and the Company's ability to effectively manage growth. These and other risk factors are discussed in the Company's filings on Forms 8-K, 10-QSB and 10-KSB.