OPKO Health Announces Collaboration with Mexican Research Center

MIAMI--(BUSINESS WIRE)-- OPKO Health, Inc. (NYSE Amex: OPK) today announced the signing of a letter of intent to collaborate with the Centro de Investigacion y Asistencia Tecnologica y Diseno del Estado de Jalisco (CIATEJ), a preeminent technology and research center in the State of Jalisco, Mexico. The organizations intend to initially develop and manufacture vaccines for flu, dengue fever, and West Nile virus.

Present at the signing ceremonies were the Governor Emilio Gonzalez Marquez and other officials of the State of Jalisco and the regional office of the Mexican national technology and science council (Consejo Nacional de Ciencia y Tecnologia, CONACYT).

Phillip Frost, OPKO's Chairman and Chief Executive Officer, commented, "This initial step to develop a long and productive relationship with CIATEJ follows our purchase of Pharmacos Exacta, S.A. de C.V., with offices and manufacturing facilities in Guadalajara, Mexico. The acquisition of Exakta and our collaboration with CIATEJ furthers our strategy of expanding commercial activities while we continue to develop important therapeutic and diagnostic products."

About OPKO Health, Inc.

Miami-based OPKO is a specialty healthcare company involved in the discovery, development, and commercialization of proprietary pharmaceutical and diagnostic products and vaccines. Initially focused on the treatment and management of ophthalmologic diseases, OPKO has since expanded into other areas of major unmet medical need.

This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding our product development efforts and the ability of OPKO and CIATEJ to develop vaccines for influenza, dengue fever and West Nile virus, and our strategy of expanding commercial activities while we continue to develop our important diagnostic and therapeutic products, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including that we may encounter issues with the integration of Pharmacos Exakta which may require significant management and financial resources. These factors include those described in our filings with the Securities and Exchange Commission, as well as risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

    Source: OPKO Health, Inc.

Released February 22, 2010