CTH Cotec Holdings Corp

Cynapsus Therapeutics Inc. (TSX VENTURE:CTH)(OTCQX:CYNAF), a specialty
pharmaceutical company developing the only oral (sublingual) delivery of the
only approved drug (apomorphine) to be used as a rescue therapy for "off" motor
symptoms of Parkinson's disease, today announced its results for the six months
ended June 30, 2013. Unless specified otherwise, all amounts are in Canadian
dollars.


Anthony Giovinazzo, President and Chief Executive Officer of Cynapsus, stated:
"The second quarter of 2013 was very busy period for us. As previously
announced, in March 2013 the Company successfully raised $7.3 million, converted
$4 million of debt to equity, and completed a 10:1 share consolidation. These
three achievements placed the Company on a much more stable foundation and
allowed us to focus on the Michael J. Fox Foundation sponsored CTH103 pilot PK
healthy volunteer study of APL-130277, as well as preparations for an
Investigational New Drug Application to the US FDA for a clinical bioequivalence
study (CTH201). The CTH103 and CTH201 studies are the next critical de-risking
milestones that we believe will drive significant shareholder value. The CTH103
study is expected to be completed in Q4 2013, and the CTH201 study is expected
to be completed in mid-2014. We look forward to reporting our progress." 


Financial Highlights



--  Cash on hand at June 30, 2013 of $4,353,053 (December 31, 2012:
    $50,401). 
--  Net loss of $1,324,609 for the six months ended June 30, 2013 (June 30,
    2012: Net loss of $1,595,526). 
--  Report 38,884,009 common shares outstanding at June 30, 2013 (December
    31, 2012: 14,214,922 common shares).



Operational Highlights

The following achievements were made during the first six months of 2013:



--  Cynapsus raised $6 million in first closing of short form prospectus
    offering, exchanges $4 million of debt for equity, and completes 10:1
    share consolidation. On March 1, 2013, the Company announced that it
    completed a first closing of a short form prospectus offering of units
    for gross proceeds of $6,008,000. Concurrent with the closing of the
    Offering, the Company and the holders of Series A to E debentures agreed
    to convert $4,030,244 in debt for common shares and warrants. In
    addition, the Company completed a share consolidation of the Company's
    issued and outstanding common shares on the basis of one (1) new common
    share for every ten (10) common shares issued and outstanding.

--  Cynapsus raised $1.3 million in second closing of short form prospectus
    offering. On March 21, 2013, the Company announced that it completed a
    second closing of its short form prospectus offering of units for gross
    proceeds of $1,309,160. Total gross proceeds from the First Closing and
    the Second Closing of the Offering are equal to $7,317,160.

--  Cynapsus accelerated activities for a comparative biostudy of APL-
    130277. In the second quarter of 2013, the Company continued work on
    CTH103, a placebo-controlled, randomized cross-over Phase 1 trial in
    healthy volunteers to examine the pharmacokinetic profile of multiple
    dose strengths of APL-130277 as compared to equivalent doses of
    apomorphine subcutaneous injection. The study is expected to be
    completed in Q4 2013. The objective of this study is to directly compare
    the pharmacokinetic profile of APL-130277 to subcutaneous apomorphine in
    healthy subjects in order to more precisely design the subsequent
    Bioequivalence Study (CTH201). The Bioequivalence Study is expected to
    be completed in mid-2014.

--  Cynapsus announced the appointment of two new Directors to the Board. On
    May 9, 2013, the Company announced that Tomer Gold, the current Vice
    President, Research & Development of Dexcel Pharma ("Dexcel"), and Ilan
    Oren, currently Vice President, Business Development at Dexcel, joined
    its Board of Directors. Following the first closing of the short form
    prospectus offering on March 1st, 2013, the Board of the Company agreed
    to allow Dexcel to nominate two new directors, subject to TSX Venture
    Exchange approval. Dexcel nominated Mr. Gold and Mr. Oren, and the
    Exchange has since reviewed and cleared their Personal Information
    Forms. Dexcel is a strategic investor in the Company and subscribed for
    $3,500,000 for 7,608,696 units of the Offering resulting in current
    ownership of 19.6% and 24.1% of all the issued and outstanding common
    shares of the Company on a basic and fully diluted basis, respectively.
    Dexcel is considered a "Control Person" under the policies of the
    Exchange.

--  Cynapsus published a white paper on apomorphine for "Off" periods in
    Parkinson's Disease and its alternative delivery development candidate
    APL-130277. On May 15, 2013, the Company announced that it had completed
    a white paper providing background clinical information on apomorphine.
    The paper identifies the potential benefits of APL-130277, the company's
    proprietary, patented, sublingual thin-film strip system, specifically
    its ability to deliver apomorphine to patients in a more convenient and
    more well-tolerated manner.

--  Cynapsus began trading on the OTCQX Marketplace in the United States. On
    July 18, 2013, subsequent to the end of the second quarter, the Company
    announced that its common shares were approved for trading in the United
    States on the OTCQX marketplace ("OTCQX"). Trading commenced immediately
    on OTCQX International under the symbol CYNAF. The Corporation will
    continue to trade on the TSX Venture Exchange under its existing symbol
    CTH.



The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.


About Cynapsus Therapeutics

Cynapsus is a specialty pharmaceutical company developing the only oral
(sublingual) delivery of the only approved drug (apomorphine) to be used as a
rescue therapy for "off" motor symptoms of Parkinson's disease. Over one million
people in the U.S. and an estimated 5 million people globally suffer from
Parkinson's disease. Parkinson's disease is a chronic and progressive
neurodegenerative disease that impacts motor activity, and its prevalence is
increasing with the aging of the population. Based on a recent study and the
results of the Company's Global 500 Neurologists Survey, it is estimated that
between 25 percent and 50 percent of patients experience "off" episodes in which
they have impaired movement or speaking capabilities. Current medications only
control the disease's symptoms, and most drugs become less effective over time
as the disease progresses.


Cynapsus' drug candidate, APL-130277, is an easy-to-administer, fast-acting
reformulation of apomorphine, which is approved in an injection formulation to
rescue patients from "off" episodes. Cynapsus is focused on maximizing the value
of APL-130277 by completing pivotal studies in advance of a New Drug Application
expected to be submitted in 2015. Cynapsus anticipates a trade sale or
out-licensing to an appropriate global pharmaceutical partner before such an
application is submitted.


More information about Cynapsus (TSX VENTURE:CTH)(OTCQX:CYNAF) is available at
www.cynapsus.ca and at the System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com.


Forward Looking Statements

This announcement contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes" or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Cynapsus to be
materially different from those expressed or implied by such forward-looking
statements, including but not limited to those risks and uncertainties relating
to Cynapsus' business disclosed under the heading "Risk Factors" in its Annual
Information Form filed on November 1, 2012 and its other filings with the
various Canadian securities regulators which are available online at
www.sedar.com. Although Cynapsus has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Cynapsus
does not undertake to update any forward-looking statements, except in
accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cynapsus Therapeutics
Anthony Giovinazzo
President and CEO
(416) 703-2449 x225
ajg@cynapsus.ca


Andrew Williams
COO & CFO
(416) 703-2449 x253
awilliams@cynapsus.ca

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