STELLAR SIGNS LICENSING AGREEMENT FOR DISTRIBUTION AND SALE OF NEOVISC'R' IN LEBANON AND SYRIA

Stellar Pharmaceuticals Inc. ("Stellar") (TSX VENTURE:SLX)(OTCBB:SLXCF), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today reported signing a Licensing Agreement with TECHNIMED of Anteljas, Lebanon in respect of the distribution and sale of NeoVisc(R), a product used for the treatment of osteoarthritis, in Lebanon and Syria. In exchange for the right to market and sell NeoVisc(R) in the above Territory Technimed has agreed to obtain all necessary regulatory approvals at its sole cost and will pay Stellar a specified royalty in respect of all sales in either of these territories.

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