FUL.L Regulatory News (FUL)

12 Apr 2006 10:30

Fulcrum Pharma PLC12 April 2006 For immediate release 12 April 2006 FULCRUM PHARMA PLC ("Fulcrum" or "the Group" or "the Company") Significant Service Contract signed with Celtic Pharma Fulcrum Pharma plc (AIM: FUL), the drug development and strategic outsourcingservices company, is pleased to announce the signing of a significant three-yearagreement with Celtic Pharma Development Services Bermuda Ltd. ("Celtic").Under the terms of this agreement Fulcrum will provide drug development servicesto Celtic in Europe, US and Japan. Celtic is a leading global private equity firm focused on pharmaceutical andbiotechnology products. Celtic builds value in differentiated and commerciallyattractive pharmaceutical products by driving them through the final stages ofthe drug approval process, employing a rigorous "virtual pharma" model of drugdevelopment. Fulcrum has a proven record in developing new drugs efficientlyand cost effectively using its global, virtual, drug development services model.Fulcrum's services offer an excellent strategic fit with Celtic and Fulcrum iswell placed to contribute to Celtic's success. Initially Fulcrum will beleveraging its virtual model to support the development of four of Celtic's latestage clinical programmes, specifically the brain cancer treatment TransMID, thetwo anti-addiction vaccines, TA-CD and TA-NIC, plus, outside of the USA, thetreatment for brain oedema, Xerecept. Jon Court, CEO, of Fulcrum Pharma, commented: "Our management team is delightedto become a drug development partner with Celtic. Our company, being anoriginator of the virtual model, shares Celtic's enthusiasm for theeffectiveness and efficiency of virtual development. This agreement strengthensFulcrum and represents a further significant step in the development ofFulcrum's partnership strategy." "Fulcrum has the experience, resources and quality to help us add value to ourimportant therapeutic products," said John Mayo, Joint General Managing Partnerof Celtic Pharma. "We look forward to a long and successful relationship withthe Fulcrum team." Dr. Patrick O'Connor, Head of Clinical Development for Celtic Pharma DevelopmentServices, added: "We see the Fulcrum team as an essential addition to ourin-house resources as we look to leverage our team to deliver high qualitydevelopment products to the regulatory authorities in the key markets. We areactively working with the Fulcrum team to ensure that the first four candidatesmove forward rapidly." FOR FURTHER INFORMATION, PLEASE CONTACT: Fulcrum Pharma PLC Tel: 0870 710 7152Jon Court, Chief Executive Buchanan Communications Tel: 020 7466 5000Mary-Jane Johnson Notes for editors About Fulcrum Pharma plc Fulcrum Pharma plc is an independent, drug development company that is the firstto offer global virtual drug development and strategic outsourcing services tothe pharmaceutical industry. The Group has expertise in the design, executionand delivery of drug development programmes and relies on state of the artinformation technology and infrastructure in the supply of its services. Through Fulcrum's services to its clients, the Directors believe that there isthe capacity to deliver products faster and more efficiently to the globalpharmaceutical market. Fulcrum does this by using its skills in the design ofdrug programmes that deliver the necessary information for decision-making andproduct registration. In so doing, Fulcrum works closely with its clients tomeet their strategic R&D goals. Fulcrum Pharma is listed on the Alternative Investment Market of the LondonStock Exchange having successfully floated in March 2000. About Celtic Pharmaceutical Holdings L.P. Celtic Pharmaceutical Holdings L.P. (Celtic Pharma) is a global private equityinvestment firm focused on the biotechnology and pharmaceutical industries.Celtic Pharma was founded by Stephen Evans-Freke and John Mayo CBE and is basedin Bermuda, with offices in New York and London. Celtic Pharma acquires andinvests in late stage pharmaceutical programmes and manages these programmesthrough to regulatory approval. Celtic Pharma's aim is to bridge the gapbetween the established pharmaceutical companies' new product pipeline crisisand the biotech industry's capital drought. For further information, pleasevisit Celtic Pharma's website at www.celticpharma.com. This information is provided by RNS The company news service from the London Stock Exchange