UPDATE: Deerfield Announces a $300 Million Commitment to Create and Build Aralez Pharmaceuticals Ltd.

Deerfield has committed up to $300 million to create and build Aralez Pharmaceuticals Ltd. Aralez will bring together a proven management team with the existing products and pipelines from POZEN Inc. and Tribute Pharmaceuticals Canada, to form a new specialty pharmaceutical company with exceptional prospects. Deerfield will provide $75 million in 6 year convertible notes, up to $25 million in equity and a $200 million commitment available for future product acquisitions. This financing provides Aralez with the capital to establish its US commercial presence and launch pipeline products, including YOSPRALA™ upon FDA approval. It also enables the company to aggressively pursue synergistic business development and licensing opportunities. "We are pleased and excited to partner with Adrian Adams and Andrew Koven, a proven senior management team, by creating a tax advantaged company with a diverse product portfolio of commercial assets, the anticipated 2016 launch of YOSPRALA and a strong balance sheet to fund additional growth opportunities." said Alex Karnal, a Partner at Deerfield Management. "We are delighted that Deerfield, a leading investor in healthcare and pharmaceuticals sectors with an impressive track record of investing in innovative companies is our partner in creating Aralez. With this vote of confidence, Aralez will have a unique mix of capital, products and talent, enabling us to drive significant innovation and growth," commented Adrian Adams, Chief Executive Officer of POZEN Inc. "Deerfield has been an important catalyst in bringing together the people and assets necessary to form this strategically compelling company, and will be an important partner in assessing and financing additional commercial assets for Aralez in the years ahead." The transactions resulting in the combination of POZEN and Tribute with newly-formed Irish parent, Aralez, are subject to stockholder approval by the POZEN and Tribute stockholders as well as other closing conditions. Aralez Pharmaceuticals Ltd. will re-register as Aralez Pharmaceuticals plc upon closing of such transactions.