17 Apr 2009 07:16
| For immediate release | 17 April 2009 |
MINSTER PHARMACEUTICALS PLC
("Minster" or "the Company")
Directorate Change
Minster Pharmaceuticals plc (AIM: MPM), the drug development company specialising in neurological and psychiatric disorders, announces that Paul Sharpe is stepping down as Chief Executive Officer but will remain on the Company's Board as a Non-Executive Director.
John Russell, Minster's Chairman, will become interim Chief Executive Officer and will lead the refocusing of the Company's strategy with the objective of building shareholder value. It is anticipated that a new Chief Executive Officer will be appointed at an appropriate time in the Company's future development.
John Russell, Minster Pharmaceuticals' Chairman, said: "On behalf of the Board, I would like to express sincere thanks to Paul Sharpe for leading Minster as CEO for eight years and I look forward to his on-going contribution to the Company as a Non-Executive Director."
For further information:
| Minster Pharmaceuticals plc | Tel: +44 (0) 1799 506623 |
| John Russell, Chairman and Interim CEO | |
| Robert Aubrey, Chief Financial Officer | |
| Buchanan Communications | Tel: +44 (0) 20 7466 5000 |
| Mark Court / Rebecca Skye Dietrich / Catherine Breen | |
| Nomura Code Securities Limited | Tel: +44 (0) 20 7776 1200 |
| Chris Collins / Richard Potts |
Notes for editors:
About Minster Pharmaceuticals plc
Minster Pharmaceuticals is a drug development company focussed on neurological and psychiatric disorders. Its principal pipeline assets are tonabersat and sabcomeline. Worldwide rights to both compounds were acquired from GlaxoSmithKline and the compounds benefit from comprehensive safety tolerance data as a result of investment by GSK.
Tonabersat is the leading compound in an exciting new class of selective drugs designated as neuronal gap junction blockers. Sabcomeline, a muscarinic partial agonist, has potential in the treatment of chronic schizophrenia.
Minster joined the AIM market in February 2005 and trades under the symbol MPM. For further information please visit www.minsterpharma.com.