Regulatory News:

Novagali Pharma (Paris:NOVA), a pharmaceutical company that develops innovative ophthalmic products, can today announce that it has signed an exclusive agreement with Ardeo Health, LLC for Nova23041 its unique formulation for the treatment of dry eye symptoms in the United States and Canada with OCuSOFT, Inc.

Nova23041 is a preservative-free oil-in-water emulsion resulting from Novasorb® patented technology whose efficiency and tolerance in treating dry eye symptoms have been proven during a number of clinical trials carried out in Europe and Southeast Asia.

Based on the electrostatic attraction between the positively charged eye drop and the negatively charged ocular surface, Novasorb®’s technological platform enables the product to be spread in an optimal, uniform and comfortable way across the entire ocular surface, improves resilience time and thus reduces the number of instillations necessary with increased efficiency and optimal compliance and tolerance.

Nova23041 has been successfully marketed since 2008 under the brand name Cationorm®, a brand that belongs to Novagali Pharma. The product is already recommended by ophthalmologists in numerous countries throughout Europe, North Africa, the Middle East and Southeast Asia.

Thanks to this exclusive distribution agreement, Nova23041 will be marketed in the United States and Canada under the brand name Retaine® MGD™ Ophthalmic Emulsion. OCuSOFT, Inc. will become the exclusive promoter.

Cynthia Barratt, President of OCuSOFT, comments: “OCuSOFT has been searching for a truly unique proprietary Dry Eye therapy which also combined a long-term partnership – and we have found that with Ardeo Health and Novagali. I believe Retaine® MGD™ will become the standard of care for those suffering with Meibomian Gland deficiencies.”

“Everyone at Ardeo Health is excited to see this newest technology brought to North America. Patients suffering from Dry Eye will now have an alternative to expensive prescription (Rx) therapies”, states Robert “Bob” Sykora, RPh, President & CEO of Ardeo Health. “With these partnerships, Ardeo has the best of both worlds – the science of Novagali coupled with the brand recognition and distribution channels of OCuSOFT®.”

Jérôme Martinez, Chairman of Novagali Pharma, concludes: “We are very pleased to be able to announce, today, the signing of this agreement involving two major American ophthalmology players. Given their proven expertise on the North American ophthalmology market, OCuSOFT’s teams will no doubt make Nova23041’s launch in the United States and Canada a success that will enable us to extend the distribution of our unique formulation for treating dry eye symptoms around the world. This agreement confirms the growing reputation in the United States of the products and technologies developed by Novagali Pharma. Novagali Pharma also plans to get the results of the Catioprost® phase II study in the United States during the third quarter of 2011”.

About NOVAGALI Pharma - www.novagali.comFounded in 2000, Novagali Pharma SA is a pharmaceutical company that develops ophthalmic innovative products for all segments of the eye. Thanks to its three proprietary technology platforms, the Company has an advanced portfolio of highly innovative products, one of which is already on sale and two of which are undergoing phase III clinical trials.In 2009, Frost & Sullivan recognised Novagali with the Award for Industry Innovation & Advancement of the Year, for its proprietary emulsion technology platforms, and Siemens awarded the company the “Health Award” Grand Prix de l’Innovation for Novasorb®. Novagali Pharma carried out a successful IPO in July 2010 enabling the Company to raise €22 million.Novagali Pharma is listed on NYSE Euronext Paris - Compartment C. ISIN code: FR0010915553 - Ticker: NOVA.

About Ardeo Health LLC - www.ardohealth.comArdeo Health is a Suwanee, GA USA.-based healthcare company that specializes in research, development, and licensing of advanced technology pharmaceutical products, consumer health products, and medical devices. Ardeo Health is dedicated to the pursuit of products and technologies leading to the effective treatment and cure of ophthalmic and dermatologic diseases. For more information, please contact: info@ardeohealth.com

About OCuSOFT, Inc. - www.ocusoft.comOCuSOFT, Inc. is a Richmond, TX USA-based ophthalmic research, development and supply company with an established reputation for innovation, particularly in the area of Ocular Surface Disease (OSD). Since 1986, OCuSOFT® has served the ophthalmic industry with a unique selection of proprietary brands including over-the-counter (OTC) and prescription products. A pioneer in ophthalmology, OCuSOFT® introduced the first eyelid cleanser, the first topical anesthetic gel, the first “leave-on” antibacterial eyelid cleaner, the first prescription-only supplement for Dry Eyes and the first supplement to enhance botulinum toxin injections. Today, the company is most recognized for its #1 Doctor Recommended Brand of Eyelid Cleansers, OCuSOFT® Lid Scrub™, in addition to its standing as the preferred distributor of ophthalmic products and supplies by eye care professionals in the U.S. For more information, please contact Linda Dang at ldang@ocusoft.com or by calling 800-233-5469 (U.S.)

DisclaimerThis press release contains forward-looking statements. Although Novagali Pharma considers these statements to be based on reasonable assumptions, they could be affected by risks and uncertainties causing actual results to differ significantly from these forward-looking statements. For details of the risks and uncertainties that could potentially affect Novagali Pharma’s results, financial situation, performances or achievements and thus result in a variation in these figures compared to the forward-looking statements contained in this document, please refer to the Risk Factors section of the Document de Base source document registered with the French Autorité des Marches Financiers (“AMF”) under n° R. 11-021 on April 29th 2011 and available on the AMF (http://www.amf-france.org) and Novagali Pharma (www.novagali.com) websites.This press release and the information contained herein do not constitute an offer to sell or subscribe to, or a solicitation of an offer to buy or subscribe to, shares in Novagali Pharma in any country.

Next press releaseRevenue for the 2nd quarter and 1st half of 2011:July 28th 2011 (after market)

Novagali Pharma is listed on NYSE Euronext Paris - Compartment CISIN code: FR0010915553 - Ticker: NOVA

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