Stellar Pharmaceuticals Inc. Announces Watson Pharma, Inc. Has Received a Conditional IDE Approval for Stellar's

LONDON, ONTARIO, Jun 10 (MARKET WIRE) --
Stellar Pharmaceuticals Inc. ("Stellar" or the "Company") (OTCBB: SLXCF)
is pleased to announce that its United States licensee, Watson Pharma,
Inc. ("Watson") (NYSE: WPI), has received a conditional approval of their
Investigational Device Exemption (IDE) to conduct clinical work with
Uracyst(R) from The Food and Drug Administration (FDA) in the United
States of America ("USA"). This will allow Watson to continue to move
their Uracyst(R) development program forward towards the eventual
approval for the sale of Uracyst(R) in USA. The conditional approval
allows Watson to begin a blinded, placebo-controlled, pilot clinical
trial in 100 subjects at 20 clinical study centers in the USA.

Peter Riehl, Stellar's President and CEO stated, "We are very pleased to
see another important milestone completed by Watson as they continue to
make progress towards the sale of Uracyst(R) in the largest
pharmaceutical market in the world. Stellar is fortunate to have a
partner as experienced as Watson is in the field of urology to develop
the clinical program for the Uracyst marketing approval in the USA."

About Stellar

Stellar has developed and is marketing direct in Canada and in countries
around the world through out-license agreements two products based on its
core polysaccharide technology: NeoVisc(R), for the treatment of
osteoarthritis; and Uracyst(R), its patented technology for the treatment
of interstitial cystitis (IC), an inflammatory disease of the urinary
bladder wall. Stellar also has in-licensing agreements for NMP22(R)
BladderChek(R), a proteomics-based diagnostic test for the diagnosis and
monitoring of bladder cancer.

This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Readers are cautioned
not to place undue reliance on these forward-looking statements. Actual
results may differ materially from those indicated by these
forward-looking statements as a result of risks and uncertainties
impacting the Company's business including increased competition; the
ability of the Company to expand its operations, to attract and retain
qualified professionals, technological obsolescence; general economic
conditions; and other risks detailed from time to time in the Company's
filings.

Contacts:
Stellar Pharmaceuticals Inc.
Peter Riehl
President/CEO
(519) 434-1540

Stellar Pharmaceuticals Inc.
Arnold Tenney
Chairman of the Board
(416) 587-3200
corpinfo@stellarpharma.com

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