Solvay Pharmaceuticals, Inc. Licenses Exclusive Development and Commercial Rights to Oral Testosterone Formulation from Lipocine Inc.

MARIETTA, Ga.--(Business Wire)--
Solvay Pharmaceuticals, Inc. today announced a license agreement with Lipocine
Inc. that provides Solvay Pharmaceuticals exclusive rights to develop and
commercialize an oral formulation of testosterone.

Using its proprietary oral Lip`ral technology, Lipocine has developed an
investigational oral testosterone product. Solvay Pharmaceuticals plans to
initiate a development program to further study the investigational product as
an oral treatment for male hypogonadism also known as low testosterone (low T).

"This agreement further demonstrates Solvay Pharmaceuticals` commitment to men
suffering from low testosterone," said Dr. Stephen Hill, President, Solvay
Pharmaceuticals, Inc. "As the market leader in the field, we will apply our
expertise in the treatment of low testosterone to the development of an oral
testosterone replacement therapy. This compound has the potential to be the next
major innovation in the management of low testosterone."

"We are quite pleased to partner with Solvay Pharmaceuticals, a leader in
testosterone replacement therapy, to bring this innovative treatment option to
patients." said Dr. Mahesh Patel, President and CEO, Lipocine Inc.

Under the terms of the agreement announced today, Solvay Pharmaceuticals will
make an upfront payment, make future milestone payments and pay royalties based
upon product sales to Lipocine. Solvay Pharmaceuticals will also fund Lipocine
development expenses associated with this program.

It is estimated that hypogonadism, also known as low testosterone, affects more
than 13 million men in the United States age 45 and older. Because signs and
symptoms of low testosterone are subtle and often overlap with other common
medical conditions, low testosterone is frequently undiagnosed. Signs and
symptoms of low testosterone may include low sex drive, erectile dysfunction,
fatigue, depressed mood, reduced muscle mass and strength, increased fat body
mass and decreased bone mineral density.

About Lipocine Inc.

Lipocine Inc. is a privately held pharmaceutical company leveraging its
proprietary drug delivery technologies to commercialize innovative
pharmaceutical products. Lipocine business objectives are to develop products
with established drugs that have patient friendly attributes such as faster
absorption, lower dose, fewer side effects, less frequent dosing, and no food
effect. For more information, visit www.lipocine.com.

About Solvay Pharmaceuticals, Inc.

Solvay Pharmaceuticals, Inc.,of Marietta, Georgia, is the U.S. subsidiary of
Solvay Pharmaceuticals. For more information, visit
www.solvaypharmaceuticals-us.com.

Solvay Pharmaceuticals is a research driven group of companies that constitutes
the global pharmaceutical business of the Solvay Group. The companies seek to
fulfill carefully selected, unmet medical needs in the therapeutic areas of
neuroscience, cardiometabolic, influenza vaccines, gastroenterology and men's
and women's health. Its 2008 sales were EUR 2.7 billion and it employs more than
9,000 people worldwide. For more information, visit
www.solvaypharmaceuticals.com.

Solvay is an international Chemicals and Pharmaceuticals Group with headquarters
in Brussels. It employs some 28,300 people in 50 countries. In 2008, its sales
amounted to EUR 9.5 billion generated by its three activity sectors: Chemicals,
Plastics and Pharmaceuticals. Solvay (NYSE-Euronext: SOLB.BE - Bloomberg:
SOLB.BB - Reuters: SOLBt.BR) is listed on NYSE-Euronext at Brussels. Details are
available at www.solvay.com.

Neil Hirsch
Manager, U.S. Corporate Communications
Solvay Pharmaceuticals, Inc.
(770) 578-2170
neil.hirsch@solvay.com
or
Jerry Simmons
Corporate and Business Development Officer
Lipocine Inc.
(801) 994-7383 x2110
gts@lipocine.com

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