Sophiris Bio Inc fka SPHS

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SAN DIEGO and VANCOUVER, British Columbia, May 12, 2016 /PRNewswire/ -- Sophiris Bio Inc. (SPHS) (the "Company" or "Sophiris"), a biopharmaceutical company developing topsalysin (PRX302) for the treatment of urological diseases, today announced that it has engaged Oppenheimer & Co. Inc. as its financial advisor to assist with evaluation of strategic alternatives to advance the development of topsalysin and enhance shareholder value, including potential partnering arrangements, financings or a strategic transaction.

"Our Phase 3 BPH clinical trial met its primary endpoint and the initial data from our Phase 2a proof of concept trial in localized prostate cancer was encouraging, both of which create attractive strategic opportunities for moving the programs and the company forward," said Randall E. Woods, President and CEO of Sophiris. "Data from all 18 patients treated with topsalysin in the Phase 2a prostate cancer study is still expected this quarter. With the totality of the topsalysin data, Oppenheimer's experience advising companies in our field will be immensely valuable as we evaluate strategic alternatives to maximize opportunities from our topsalysin programs."
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The Company does not intend to make any further disclosures regarding these matters until its board of directors approves a specific action or otherwise concludes its review of strategic alternatives.

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