Re Agreement

1 Jun 2006 07:01

Maelor PLC01 June 2006 Maelor and Plethora Solutions enter into a licensing agreement for micelle nanotechnology June 1st 2006 - Maelor Pharmaceuticals PLC ("Maelor"; AIM:MLR), the specialistcritical care company, and Plethora Solutions Holdings PLC ("Plethora" or the "Company", AIM : PLE), a UK-based speciality pharmaceutical company, are pleasedto announce that Maelor has granted Plethora a licence to Maelor's micellenanotechnology delivery system. Under the terms of the agreement, Maelor will provide Plethora with a worldwide,exclusive licence to Maelor's micelle nanotechnology, for application inPlethora's PSD597 programme for the treatment of interstitial cystitis andpainful bladder syndrome (IC/PBS). Plethora will be responsible for product development and the licence agreementis based upon an upfront payment, development and sales milestones and royaltiesto Maelor. Micelle nanotechnology entraps drug compounds inside minute particles built upfrom polymers. This formulation technique can potentially deliver effectiveconcentrations of drugs which would otherwise be insoluble. The micelles mayalso protect the entrapped drug from hydrolysis by enzymes or protect the drugfrom extreme pH environments and thus enable more drug to be delivered to itssite of action. Plethora has already completed clinical pilot studies which indicated that itsproprietary treatment, PSD597, can result in symptomatic relief from IC/PBS.Plethora recently announced that it had initiated a Phase II, double-blind,placebo-controlled clinical study in up to 20 centres in the US and Canada, withpreliminary results anticipated towards the end of 2006. In this study, PSD597is being delivered locally into the bladder in a procedure conducted in anout-patient clinic. Following successful completion of this study, the micelletechnology will be incorporated into the next stage of development and may openup the potential for patients to self administer treatments for interstitialcystitis. IC/PBS is a condition characterised by chronic pelvic pain and afflicts up totwo million women in the United States and Europe. The causes of IC/PBS areunknown and the few available approved treatments fail to bring about immediateand long-lasting symptomatic relief. Tim Wright, Chief Executive Officer of Maelor, commented: "As a specialist urology company with expertise in the clinical development ofan IC/PBS treatment, Plethora is ideally placed to develop an effective andconvenient micelle-based product for this debilitating condition and we arepleased to build upon their proprietary position in this area by providingaccess to our micelle nanotechnology." Steven Powell, Chief Executive Officer of Plethora, commented: "Maelor's micelle delivery technology is an ideal enhancement for this product,potentially broadening the patient population for this much needed treatmentwhich has unique benefits for IC/PBS sufferer." Enquiries: Maelor plcTim Wright, CEOTel: 01978 810153 Financial DynamicsBen Atwell/John GilbertTel: 020 7831 3113 Plethora Solutions Tel : 0207 269 8630Steven Powell Buchanan Communications Tel : 0207 466 5000Isabel Podda Notes to Editors: About Maelor: Maelor plc is a specialist critical care pharmaceuticals and devices company.The company commercialises its critical care portfolio directly in the UK andcommercialises early stage technology and non-core products through effectiverelationships with partners. The Company is headquartered in the UK and islisted on the London Stock Exchange (AIM:MLR) Further information is availableat www.maelor.plc.uk About Plethora: Plethora is focused on the development of products for the treatment ofurological disease. The Company has products in clinical development for thetreatment of overactive bladder, benign prostatic hyperplasia, stress urinaryincontinence, interstitial cystitis and premature ejaculation. In January 2006,Plethora acquired Minneapolis (Mn) based Timm Medical Technologies Inc whichmarkets products for the treatment of erectile dysfunction (ED) to urologyclinics through a US-based speciality sales team. The Company is headquarteredin the UK and is listed on the London Stock Exchange (AIM:PLE) Furtherinformation is available at www.plethorasolutions.co.uk This information is provided by RNS The company news service from the London Stock Exchange