SLN.L Regulatory News (SLN)

3 May 2005 14:13

SR Pharma plcSR Pharma terminates merger discussions to progress acquisition of a Europeanbiotechnology company.London 3 May 2005 - SR Pharma plc ("the Company") announced today that it hasterminated merger and acquisition discussions with an unnamed UK based thirdparty with which, as previously announced, it had been in late stage talks. TheCompany's decision to terminate discussions was based on the length of timetaken to conclude a transaction and other acquisition opportunities availableto the Company. In particular, the Company will now concentrate on progressingdiscussions to acquire an unquoted European biotechnology business and expectsshortly to release further details.Iain Ross, Chairman, stated "It is very important that we find the rightpartner and I believe the Company which we are negotiating to acquire providesSR Pharma with both scientific and commercial synergies".For further information contact:Melvyn DaviesCompany SecretarySR Pharma plcTel: 020 7307 1620ENDSR PHARMA PLC