CTH Cotec Holdings Corp

Cynapsus Therapeutics Inc. (TSX VENTURE:CTH), a specialty pharmaceutical company
developing an improved dosing formulation of an approved drug used to treat the
symptoms of Parkinson's disease, today announced that Tomer Gold, the current
Vice President, Research & Development of Dexcel Pharma ("Dexcel"), and Ilan
Oren, currently Vice President, Business Development at Dexcel, will be joining
its Board of Directors effective May 9, 2013. 


Following the first closing of the Short Form Prospectus Offering (the
"Offering") on March 1st, 2013, the Board of the Company agreed to allow Dexcel
to nominate two new directors, subject to TSX Venture Exchange (the "Exchange")
approval. Dexcel nominated Mr. Gold and Mr. Oren, and the Exchange has since
reviewed and cleared their Personal Information Forms ("PIFs"). Dexcel is a
strategic investor in the Company and paid $3,500,000 for 7,608,696 units of the
Offering resulting in current ownership of 19.6% and 24.0% of all the issued and
outstanding common shares of the Company on a basic and fully diluted basis,
respectively. Dexcel is considered a "Control Person" under the policies of the
Exchange. 


The Company will now have a total of nine (9) directors until the next Annual
General Shareholder Meeting, including: Rochelle Stenzler (Chair of the Board),
Ronald Hosking (Chair of the Audit Committee), Dr. Julia Levy (Chair of the
Corporate Governance, Nominating and Compensation Committee), Anthony Giovinazzo
(President and CEO), Dr. Perry Molinoff, Dr. Alan Ryley, Alan Torrie, Tomer Gold
and Ilan Oren.


"With their deep pharmaceutical drug development and business development
experience, Tomer and Ilan will provide invaluable expertise to the Board going
forward. Our team looks forward to working with them closely," said Rochelle
Stenzler, Cynapsus' Chair of the Board.


"I am thrilled with Tomer and Ilan's appointment to our Board. They both have
deep international pharma industry knowledge and experience that will aid the
next stage of our development. They also have experience with the 505(b)(2)
regulatory pathway, which is the pathway we are pursuing for our Parkinson's
drug candidate, APL-130277. Dexcel's strategic investment in the Company also
provides further independent corroboration of the potential for APL-130277,"
said Anthony Giovinazzo, President and CEO.


Mr. Gold is currently the Vice President, Research & Development of Dexcel where
he oversees a group of 120 scientists and engineers. He is responsible for the
development, registration and launching of generic and innovative products
throughout the world. Mr. Gold previously led the Pharmaceutical Development -
European Union team of the Global Generic Research and Development branch of
Teva Pharmaceuticals Ltd. His activities focused on the development of
controlled release, enteric and immediate release products. Mr. Gold holds a
B.Sc in Chemical Engineering and was granted a M.Sc. degree in Biomedical
Engineering from the Technion - Israel Institute of Technology in Haifa, Israel.



Mr. Oren is currently Vice President, Business Development at Dexcel. He was
previously employed by L.E.K. Consulting, advising clients in the life science
sector on corporate strategy, M&A, licensing and drug commercialization
projects. Mr. Oren holds a B.A. in Economics from Harvard University.


About Dexcel Pharma

Dexcel Pharma is a privately-held international specialty pharmaceutical company
dedicated to the development, manufacture, and marketing of pharmaceutical
drugs. The company utilizes proprietary drug-delivery technologies to develop
generic and innovative, modified-release 505(b)(2) drug formulations for CNS,
GI, and CV therapeutic areas. Dexcel Pharma operates large-scale,
highly-advanced manufacturing facilities and sells its product portfolio in more
than 30 countries worldwide, including the United States, United Kingdom and
Germany. Dexcel Pharma was founded in 1968 and is headquartered in Israel. 


About Cynapsus Therapeutics

Cynapsus is a specialty pharmaceutical company developing the only
non-injectable (i.e. sublingual) delivery of the only approved drug
(apomorphine) to be used as a rescue therapy for "off" motor symptoms of
Parkinson's disease. Over one million people in the U.S. and an estimated 5
million people globally suffer from Parkinson's disease. Parkinson's disease is
a chronic and progressive neurodegenerative disease that impacts motor activity,
and its prevalence is increasing with the aging of the population. Based on a
recent study and the results of the Company's Global 500 Neurologists Survey, it
is estimated that between 25 percent and 50 percent of patients experience "off"
episodes in which they have impaired movement or speaking capabilities. Current
medications only control the disease's symptoms, and most drugs become less
effective over time as the disease progresses.


Cynapsus' drug candidate, APL-130277, is an easy-to-administer, fast-acting
reformulation of apomorphine, which is approved in an injection formulation to
rescue patients from "off" episodes. Cynapsus is focused on maximizing the value
of APL-130277 by completing pivotal studies in advance of a New Drug Application
expected to be submitted in 2015. Cynapsus anticipates a trade sale or
out-licensing to an appropriate global pharmaceutical partner before such an
application is submitted.


More information about Cynapsus (TSX VENTURE:CTH) is available at
www.cynapsus.ca and at the System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com.


Forward Looking Statements

This announcement contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes" or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Cynapsus to be
materially different from those expressed or implied by such forward-looking
statements, including but not limited to those risks and uncertainties relating
to Cynapsus' business disclosed under the heading "Risk Factors" in its Annual
Information Form filed on November 1, 2012 and its other filings with the
various Canadian securities regulators which are available online at
www.sedar.com. Although Cynapsus has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Cynapsus
does not undertake to update any forward-looking statements, except in
accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cynapsus Therapeutics
Anthony Giovinazzo
President and CEO
(416) 703-2449 x225
ajg@cynapsus.ca


Cynapsus Therapeutics
Andrew Williams
COO & CFO
(416) 703-2449 x253
awilliams@cynapsus.ca
www.cynapsus.ca

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