April 23, 2009, Halifax, Nova Scotia – Origin BioMed Inc., a manufacturer of over-the-counter topical drug products, announced today it has secured a $3.3 million financing, led by GrowthWorks Atlantic Venture Fund Ltd. (GrowthWorks), and Avrio Ventures Management Corporation (Avrio Ventures) and private individuals.  This investment will help drive the North American market expansion of Origin’s leading diabetic neuropathy product – Neuragen®, a topical oil for fast-acting relief of diabetic foot pain.  It is the company’s goal to establish Neuragen as the dominant North American brand for non-prescription treatment of nerve pain.

“We are extremely pleased that GrowthWorks has invested in Origin BioMed at this key point in the company’s growth.  GrowthWorks brings solid management expertise in the life sciences sector and are a strong and recognized investor across Canada,” said Robert Cervelli, President and Chief Executive Officer of Origin BioMed. “This funding also represents Avrio Ventures’ third financing commitment to our company.”

“We are very pleased to add Origin BioMed to our investment portfolio,” said Tom Hayes, President and CEO of GrowthWorks Atlantic Venture Fund.  “We believe this company has the potential to be a leader in the life sciences industry here in Atlantic Canada, to provide significant relief to those suffering from chronic pain and to provide great returns to the shareholders of our Fund.”

“Avrio believes that building a strong enterprise includes teaming up with the right partners at the various stages of growth.  We are very excited about the opportunity to continue to enhance Origin’s market position by leveraging their existing distribution channels with new product offerings.” said Aki Georgacacos, partner at Avrio Ventures and Origin board member.

Neuragen targets the $4 billion worldwide neuropathic pain market.  About 60 to 70 per cent of people with diabetes have mild to severe forms of nervous system damage (www.diabetes.org). The results of such damage include impaired sensation or pain in the feet or hands and other nerve problems.  Almost 50 per cent of people with diabetes aged 40 years or older have impaired sensation in the feet (i.e., at least one area that lacks feeling).  Neuragen has provided relief for over 70% of users in clinical trials, and is being sold in the diabetic sections of drug stores, through many health profession clinics and other retail outlets.  www.neuragen.com

About Origin BioMed:
Origin BioMed Inc., Halifax, Canada, is an innovative OTC consumer health products company focused on pain management.  www.originbiomed.com 

About GrowthWorks*:
GrowthWorks managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks* manages approximately $700 million in assets through the Working Opportunity Fund (EVCC) Ltd., GrowthWorks Atlantic Venture Fund Ltd., GrowthWorks Commercialization Fund Ltd. and GrowthWorks Canadian Fund Ltd. GrowthWorks identifies, analyzes and structures investments in companies with high growth potential.  Particular emphasis is placed on IT, Life Sciences and Cleantech sectors.  Building on more than 17 years of investment expertise, GrowthWorks is a leader in Canadian venture capital management. www.growthworks.ca

About Avrio Ventures: 
Avrio Ventures is a venture capital firm that supports the development of Canadian commercialization and growth stage industrial bio-products, nutraceutical ingredients and food technology companies into world-class organizations.  www.avrioventures.com

* GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes: GrowthWorks Capital Ltd, manager of the Working Opportunity Fund (EVCC) Ltd.; GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd.; and GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd.  GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.  Effective December 16, 2005, GrowthWorks Atlantic Venture Fund Ltd. purchased the assets of Workers Investment Fund Inc. in exchange for Class A shares (Balanced Series) distributed to former shareholders of that fund.

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For further information, media may contact:

Origin BioMed Inc.
Robert Silverstein, VP Operations
Tele: 902.423.5745 
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Avrio Ventures Management Corporation
Aki Georgacacos, Partner
Tele: 403.215.5489
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