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Lake Street serves as financial advisor to SpineThera, Inc. as the Company entered into an agreement that provides Purdue Pharma L.P. the exclusive option to acquire SpineThera, Inc.

October 22, 2018

Lake Street is pleased to announce it served as a financial advisor to SpineThera, Inc. as the Company entered into an agreement that provides Purdue Pharma L.P. the exclusive option to acquire SpineThera, Inc. and gain worldwide rights to its products and technology platforms, including lead asset SX600, a novel dexamethasone containing microsphere that is in development for epidural administration for low back pain. This technology has potential for development of non-opioid treatments for acute and chronic pain.

About SpineThera, Inc.

SpineThera designs and develops sustained-release, injectable drugs to meet the unique safety requirements for administration in and near the spine. The Company’s goal is to develop proprietary drugs that offer patients and physicians new treatment options that reduce risk, improve outcomes, and manage overall treatment costs in markets with few or no approved drugs. SX600, the Company’s lead product candidate, is an investigational drug.

About Purdue Pharma L.P.

Purdue Pharma L.P. develops and provides prescription medicines that meet the evolving needs of healthcare professionals, patients, and caregivers. The Company was founded by physicians and is currently led by a physician. Beyond the Company’s efforts to provide quality medications, Purdue is committed to supporting national, regional and local collaborations to drive innovations in patient care. Privately held, Purdue is pursuing a pipeline of new medications and technologies through internal research & development and strategic industry partnerships. For more information, please visit www.purduepharma.com.

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