Repros and Efficacy Capital Announce Standstill Agreement

Wed Jan 9, 2008 6:32pm EST

* Reuters is not responsible for the content in this press release.

Amendment to Rights Plan permits up to 33% ownership by Efficacy
                                Capital
THE WOODLANDS, Texas--(Business Wire)--Repros Therapeutics Inc. (NasdaqGM:RPRX) announced today that the
Board of Directors has approved an amendment to its Shareholder Rights
Plan that permits the Company's largest shareholder, Efficacy Capital,
to purchase up to 33% of the Company's outstanding capital stock on
the open market or in potential future purchases directly from Repros.
Efficacy currently owns a percentage that is slightly below the
current twenty percent (20%) threshold in the Rights Plan. In
connection with this Amendment, the Company and Efficacy Capital have
entered into a Standstill Agreement containing customary covenants and
obligations restricting Efficacy from taking certain actions with
respect to its shares. As part of the Standstill Agreement, the
Company has agreed to appoint Mark Lappe, Managing Partner at
Efficacy, as a director of the Company, should he elect to do so, and
to provide Efficacy Capital with observer rights at the Company's
board meetings.

   "The Board of Directors and I are quite pleased with the decision
of Efficacy Capital to acquire more of our shares," stated Joseph
Podolski, Repros' President and Chief Executive Officer. "Efficacy is
an experienced and knowledgeable investor in the biotech marketplace,
and we believe that this decision on their part reflects strongly on
the strength of our product candidates, Proellex(R) and Androxal(TM).
We look forward to working more closely with Efficacy and Mark in the
event he decides to join the Board."

   Mark Lappe, Managing Partner at Efficacy Capital, stated: "Our
fund accumulated shares in Repros over the past two years, and we
believe strongly in Repros' management team and its product
candidates, Proellex and Androxal. We appreciate the opportunity to
grow our ownership in Repros and believe our relationship will result
in increased value to all shareholders of the Company."

   For more information concerning the provisions contained in the
Standstill Agreement, please see the Company's Current Report on Form
8-K regarding this matter.

   About Repros Therapeutics Inc.

   Repros Therapeutics Inc. is engaged in the clinical development of
small molecule therapeutics for the treatment of reproductive system
disorders that have significant market potential and are currently
underserved. We are developing our lead product Proellex(R), which is
a selective blocker of the progesterone receptor, for the treatment of
uterine fibroids, endometriosis and as a short course treatment for
uterine fibroid-induced anemia. Uterine fibroids affect numerous women
of childbearing age in the U.S. and result in a significant number of
hysterectomies each year and endometriosis is a condition that affects
approximately 5.5 million women in the U.S. and Canada.

   Repros recently completed a three-month U.S. Phase 2 clinical
trial of Proellex for the treatment of symptoms associated with
uterine fibroids and patients from that study have been enrolled into
a one-year open-label safety study. We intend to initiate pivotal
Phase 3 clinical trials for the treatment of uterine fibroids and for
the treatment of uterine fibroid-induced anemia in the first quarter
of 2008 and anticipate filing a NDA for the anemia indication by
year-end 2008. Repros also recently completed a Proellex six-month
European Phase 1/2 clinical trial for the treatment of symptoms
associated with endometriosis, and has initiated a U.S. Phase 2 study
for this indication in the third quarter of 2007.

   Our second drug candidate, Androxal(TM), is designed to restore
normal pituitary response resulting in normalization of testosterone
levels. According to the Urology Channel, recent estimates show that
approximately 13 million men in the United States experience
testosterone deficiency. Repros recently completed an Androxal
non-pivotal six-month U.S. Phase 3 clinical trial and has enrolled
patients from this trial into a one-year open-label safety study. We
intend to develop Androxal(TM) for the treatment of fertility
preservation and improvement in patients that want to preserve their
fertility while being treated for low testosterone associated with
secondary hypogonadism. In addition, we also intend to develop
Androxal for the treatment of men with idiopathic adult onset
hypogonadotropic hypogonadism associated with glycemic and lipid
dysregulation.

   For more information, please visit the Company's website at
http://www.reprosrx.com.

   Any statements that are not historical facts contained in this
release are forward-looking statements that involve risks and
uncertainties, including Repros' ability to have success in the
clinical development of its technologies, the timing of enrollment in
such clinical studies and the accuracy of such studies, limited
patient populations of clinical studies to date and the possibility
that final data may not be consistent with interim data, the cost of
such studies and Repros' ability to raise additional capital on
acceptable terms or at all, and such other risks which are identified
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2006, and Repros' Quarterly Reports on Form 10-Q for the
quarters ended March 31, June 30 and September 30, 2007, as they may
be updated by the Company's Exchange Act filings from time to time.
These documents are available on request from Repros Therapeutics or
at www.sec.gov. Repros disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

Repros Therapeutics Inc., The Woodlands
Joseph Podolski, 281-719-3447
President & CEO

Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.