STELLAR PHARMACEUTICALS AND MEGAPHARM SIGN LICENSING AGREEMENT FOR URACYST IN ISRAEL

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Stellar Pharmaceuticals Inc., a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today announced that it has signed a licensing agreement with Megapharm Ltd. ("Megapharm") for the sale of Uracyst in Israel. Uracyst is a patented therapeutic used in the treatment of glycosaminoglycan (GAG) deficient cystitis, such as interstitial cystitis ("IC"), radiation induced cystitis and chronically recurring cystitis.

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