MPM.L Regulatory News (MPM)

27 Mar 2007 07:01

Minster Pharmaceuticals PLC27 March 2007 For immediate release 27 March 2007 MINSTER PHARMACEUTICALS PLC ("Minster" or "the Company") Board Appointments Minster Pharmaceuticals plc (AIM: MPM), the drug development companyspecialising in neurological and psychiatric disorders, is pleased to announcethe appointment of John Russell, a Non-Executive Director of the Company, as theCompany's Chairman and is also pleased to announce the appointment of Argeris(Jerry) Nicolas Karabelas as a Non-Executive Director. Both appointments arewith immediate effect. Dr Karabelas, aged 53, has had a distinguished career at senior levels in theglobal pharmaceuticals industry. He was Chief Executive Officer of NovartisPharma and prior to that President of the North American operations ofSmithKline Beecham plc. He is currently a partner of Care Capital LLC, aspecialist US healthcare investment fund, and is a director of a number ofpharmaceutical and healthcare companies. Dr Karabelas is a director of Human Genome Sciences, Inc., InotekPharmaceuticals Corporation, NitroMed, Inc., Renovo Group PLC, SkyePharma PLC,and Vanda Pharmaceuticals, Inc. He is a former director of AnadysPharmaceuticals, Inc. and Acura Pharmaceuticals, Inc. There are no further disclosures to be made in respect of Dr Karabelas underparagraph (g) of Schedule 2 of the AIM Rules. John Russell, Minster Pharmaceuticals' Chairman, said: "I am delighted to takethe position of Chairman of the Company and, in that role, to welcome JerryKarabelas to the Board. Jerry's extensive international experience of drugdevelopment and marketing will be extremely valuable to Minster, whose leadproduct has the potential to revolutionise the treatment of migraine." 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 Nomura Code Securities Limited Tel: +44 (0) 20 7776 1200Chris CollinsRichard Potts Notes for editors: About Minster Pharmaceuticals plc Minster Pharmaceuticals was co-founded in January 2001 by Paul Sharpe MD, aformer head of the Neuroscience Development Team at SmithKline Beecham, and byRobert Aubrey, who has extensive senior management experience. Minster, whichwas initially named BioPartners Ltd, acquired from GlaxoSmithKline the worldwide development rights of two compounds, tonabersat and sabcomeline, which hadalready benefited from substantial 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 treatmentof migraine and other major neurological conditions. Sabcomeline, a muscarinicpartial agonist, has potential in the treatment of chronic schizophrenia. Bothcompounds benefit from comprehensive safety tolerance data as a result ofinvestment by GSK. Minster's core competence is in drug development. In addition to progressing thedevelopment of tonabersat and sabcomeline, the company has the capability totake on further compounds by acquisition or by in-licensing. 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