episil® rights returned to Camurus in Europe

Sinclair IS Pharma plc 

episil® rights returned to Camurus in Europe

London, UK, 3 July 2012 Sinclair IS Pharma ("Sinclair IS" or the "Group"), the international specialty pharma company, announces that it has returned the commercial rights for episil® (patented oral spray indicated for local treatment of pain associated with oral mucositis) in the EU to Camurus AB, while retaining distribution rights in the UK and Ireland. In conjunction with this, the Group has assigned its rights under the distribution agreement with Teva to Camurus.

episil® remains core to Sinclair IS' oncology supportive care franchise in the UK and Ireland, where Sinclair IS continues to actively promote the product through its UK hospital sales force and its Irish partner, Fannin.

The return of rights to Camurus is in-line with Group's strategy of focusing its resources in Continental Europe on dermatology and wound care, while seeking to maximise the potential of its oncology supportive care franchise in the UK, where episil® complements Sinclair's other oncology supportive care products - Aloxi®, Aquoral® and Xclair®. episil® accounted for less than 1.5% of Sinclair IS revenues in the year ended 30 June 2012.

For Sinclair IS, the deal removes certain performance obligations for launching and marketing episil® in further European markets, freeing up resources to invest in core products including episil® in the UK; and allows Camurus to take a greater return by directly licensing the product in territories where Sinclair IS has no direct sales force.

No cash is being paid for the rights returned although a non-cash impairment charge of £950,000 will be included in the Group's results for the year ended 30 June 2012 based on the carrying value of episil® following the merger with IS Pharma.

Ends

For further information please contact:

Sinclair IS Pharma plc Tel: +44 (0) 20 7467 6920

Chris Spooner

Alan Olby

Robert Taylor

Jefferies International Limited (NOMAD and Broker) Tel: +44 (0) 20 7029 8000

Nick Adams

Thomas Rider

FTI Consulting Tel: +44 (0) 20 7831 3113

Simon Conway

Stephanie Cuthbert

About Sinclair IS Pharma Plc www.sinclairispharma.com 

Sinclair IS Pharma plc is an international specialty pharmaceutical company providing solutions to treat wounds, dermatological and oral diseases through advanced surface technology and innovative delivery systems. It has a growing sales and marketing operation that is present in France, UK, Italy, Germany and Spain, and an extensive marketing partner network across selected developed & emerging markets.

"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward-looking statements, as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward-looking statements due to a variety of factors.