Bradmer Completes Previously Announced Private Placement

TORONTO, ONTARIO--(Marketwire - July 29, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Bradmer Pharmaceuticals Inc. (TSX VENTURE:BMR.H) ("Bradmer" or the "Corporation") announced today that it has issued and sold, on a private placement basis, an aggregate 5,263,152 common shares at a price of $0.095 per share, for aggregate gross proceeds to the Corporation of $500,000.00 (the "Offering").

The proceeds of the Offering will be used primarily for general corporate purposes. Completion of the financing is subject to the final approval of the NEX Board of the TSX Venture Exchange (the "NEX"). The common shares issued pursuant to the Offering will be subject to a hold period expiring four months and one day after the closing date of the Offering.

In connection with the Offering, Wildlaw Capital Markets Inc. received a cash commission of $19,250.00 and warrants exercisable to acquire 215,789 common shares, at a price of $0.095 per share, for a period of 12 months following the closing date of the Offering.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding a proposed offering, including the proposed use of proceeds of the offering, and the proposed listing of the common shares on the NEX. Actual developments may differ materially from those contemplated by these statements depending upon, among other things, the ability of the Corporation to raise the funds and decisions made by securities regulators or stock exchanges. The forward looking statements contained in this press release represent the Corporation's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date.