MPM.L Regulatory News (MPM)

16 Jul 2007 07:00

Minster Pharmaceuticals PLC16 July 2007 For immediate release 16 July 2007 MINSTER PHARMACEUTICALS PLC ("Minster" or "the Company") AGM Statement Minster Pharmaceuticals plc (AIM: MPM), the drug development companyspecialising in neurological and psychiatric disorders, will be holding itsAnnual General Meeting this morning. John Russell, the Company's Chairman, willmake the following comments: "I am pleased to report that the current year has started well and promises tobe another year of significant progress at the Company. Awareness of theprevention of migraine as a preferred alternative to acute treatment continuesto grow in both the medical and patient communities, giving us growingconfidence in our lead programme, tonabersat. "Enrolment of patients in our 500-patient Phase IIb trial of tonabersat is ontrack to begin in the autumn of this year in the US, where migraine preventionis one of the fastest growing segments of the pharmaceutical market. "From a commercial point of view, we are pleased to report a significant levelof interest in tonabersat from potential licensing partners." For further information: Minster Pharmaceuticals plc Tel: +44 (0)1799 506623Paul Sharpe, Chief Executive OfficerRobert Aubrey, Chief Financial Officer Buchanan Communications Tel: +44 (0)20 7466 5000Mark Court/Rebecca Skye Dietrich/Catherine Breen Nomura Code Securities Limited Tel: +44 (0)20 7776 1200Richard Potts Gerard Harper Notes for editors: About Minster Pharmaceuticals plc Minster Pharmaceuticals is a drug development company focussed on neurologicaland psychiatric disorders. Its principal pipeline assets are tonabersat, underdevelopment in the preventive treatment of migraine, and sabcomeline inschizophrenia. Worldwide rights to both compounds were acquired fromGlaxoSmithKline and the compounds benefit from comprehensive safety tolerancedata as a result of investment by GSK. Tonabersat is the most advanced compound in an exciting new class of drugscalled gap junction blockers, which have significant potential in the preventionof migraine and other major neurological conditions. Sabcomeline, a muscarinicpartial agonist, has potential in the treatment of chronic schizophrenia. Minster's near-term focus is on the development and commercialisation of itscurrent pipeline. Its medium term strategy is to leverage the anticipatedcashflows from the current pipeline by in-licensing further compounds with theultimate objective of creating a substantial and highly efficient drugdevelopment enterprise focussed on the central nervous system. Minster joined the AIM market in February 2005 and trades under the symbol MPM.For further information please visit www.minsterpharma.com. This information is provided by RNS The company news service from the London Stock Exchange