4 Dec 2008 07:00
| For immediate release | 4 December 2008 |
MINSTER PHARMACEUTICALS PLC
("Minster" or "the Company")
Appointment of US licensing consultant
Minster Pharmaceuticals plc (AIM: MPM), the drug development company specialising in neurological and psychiatric disorders, is pleased to announce the appointment in the US of Christine de los Reyes, a highly experienced pharmaceutical licensing negotiator, to spearhead the licensing of tonabersat, Minster's late-stage compound in migraine prevention.
Dr de los Reyes received a doctorate in clinical pharmacy in 1986 and subsequently held academic posts, including Director of Clinical Research at the Mount Sinai Medical Center in New York. In 1989 she moved into industry with Pfizer Inc., where she worked for 18 years and developed a particular focus on business development and licensing.
From 1999 to 2005, Dr de los Reyes was Pfizer Inc.'s Senior Director - Licensing & Development, London & New York. From 2005 until 2007, she was Pfizer Inc.'s Executive Director - Worldwide Business Development (Licensing & Development), a role in which she had direct responsibility for search, evaluation and negotiation of licensing transactions in neuroscience and other therapeutic areas.
In 2007 Dr de los Reyes, who has an MBA from St Joseph's University, Philadelphia, founded her own consultancy, Biotech Partnering Solutions LLC, in Miami, Florida, to advise life science companies and venture capitalists on licensing solutions.
Dr de los Reyes has a particular interest in neuroscience and is an Advisory Board Member of the Neurotechnology Industry Organization (www.neurotechindustry.org), an international trade association representing neuroscience companies, research centres and advocacy groups.
As a consultant to Minster, Dr de los Reyes will spearhead the out-licensing of tonabersat, Minster's neuronal selective gap junction blocker for the preventive treatment of migraine. Tonabersat, a first in class compound, is currently in a fully recruited Phase IIb study, TEMPUS, the results from which are on track to be announced in Q1 2009. Minster's strategy is to out-license tonabersat to a pharmaceutical partner for the final stages of the development of the product and for its registration and marketing.
Dr de los Reyes will also seek to identify potential in-licensing opportunities for the further development of Minster's product pipeline.
Paul Sharpe, Minster Pharmaceuticals' Chief Executive, said: "I am delighted that Christine de los Reyes will be working with Minster. Her broad knowledge of the US pharmaceutical industry combined with her specific experience of licensing strategies and transactions will be of immense value to the Company in the commercialisation of our lead programme, tonabersat in migraine prevention. Christine's initial focus will be on tonabersat but she will also seek to identify in-licensing opportunities to build our product pipeline."
For further information:
| Minster Pharmaceuticals plc | Tel: +44 (0) 1799 506623 |
| Paul Sharpe, Chief Executive Officer | |
| 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, under development in the preventive treatment of migraine, and sabcomeline in schizophrenia. 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 and offers the potential to prevent the onset of migraine as a preferred alternative to acute treatment. Sabcomeline, a muscarinic partial agonist, has potential in the treatment of chronic schizophrenia.
Minster's near-term focus is on the development and commercialisation of its current pipeline. Its medium term strategy is to leverage the anticipated cashflows from the current pipeline by in-licensing further compounds with the ultimate objective of creating a substantial and highly efficient drug development 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 .