Euthymics and DOV sign merger agreement

Jul 1 2010

Euthymics Bioscience, Inc., a privately held Delaware corporation (Euthymics), and DOV Pharmaceutical, Inc. (DOV), a Delaware corporation currently traded on the Pink Sheets (Pink Sheets: DOVP), today jointly announced that they have signed a merger agreement in connection with the pending merger and acquisition of DOV by Euthymics.  DOV also announced that a special meeting of its stockholders to consider a proposal to approve the merger agreement between DOV and Euthymics has been scheduled for Monday, July 19, 2010, at 10:00 a.m., local time at the offices of Phillips Murrah, P.C., 101 N. Robinson 13th Floor, Oklahoma City, Oklahoma and proxy statements have been distributed to its stockholders.  DOV's stockholders of record as of the close of business on Friday, June 18, 2010 will be entitled to vote at the special meeting. The acquisition price for DOV is for up to $2.0 million in cash, payable in two installments, representing a total of approximately $0.015 per share of DOV common stock. If the transaction is consummated, it is anticipated that DOV will be renamed Euthymics Bioscience, Inc.

Completion of the acquisition is subject to the satisfaction of several conditions, including, without limitation, compliance with applicable laws, approval by DOV shareholders, and other conditions.