AGM Statement

25 Oct 2006 07:01

Minster Pharmaceuticals PLC25 October 2006 For Immediate Release 25 October 2006 MINSTER PHARMACEUTICALS PLC ("Minster" or "the Company") AGM Statement Minster Pharmaceuticals plc (AIM: MPM), the drug development companyspecialising in neurological and psychiatric disorders, will hold its AnnualGeneral Meeting at 10am today in London. At the meeting, Paul Sharpe, the Company's Chairman and Chief Executive, willmake the following statement: "The current year has begun well with progress inour clinical studies, with the formation of new scientific collaborations andwith the acquisition from GlaxoSmithKline of rights to additional indicationsfor our lead compound tonabersat. In addition, we are continuing to progress thefundraising highlighted last month at the time of our Preliminary Resultsannouncement. "Our two phase II clinical studies with tonabersat in the prevention of migraineand the prevention of migraine with aura are progressing to plan. The firstclinical data from these trials is expected in Q1 2007. "I am pleased to report that we are in advanced discussions with Professor HerbMeltzer at Vanderbilt University in Tennessee and Professor Jeffrey Lieberman atColumbia University in New York with a view to their conducting a proof ofconcept study with sabcomeline in the treatment of cognitive decline inschizophrenia. "We believe sabcomeline offers a new approach to the treatment of cognitivedecline in schizophrenia and are pleased to have won the support of two of themost distinguished US academics in clinical psychiatry." - ENDS - 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 CourtRebecca Skye Dietrich 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, was formed on the acquisition fromGlaxoSmithKline of the worldwide development rights of two compounds, tonabersatand sabcomeline, which have already benefited from substantial investment byGSK. Tonabersat is the most advanced compound in an exciting new class of drugscalled gap junction blockers, which have significant potential in the preventionof migraine. Sabcomeline, a muscarinic partial agonist, has potential in thetreatment of chronic schizophrenia. Both compounds benefit from comprehensivesafety tolerance data as a result of investment 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