Initial formulation development complete

Oxford Pharmascience Group plc

("Oxford Pharmascience" or "the Company")

Oxford Pharmascience completes initial formulation development for leading statins

Oxford Pharmascience, the specialty pharmaceutical company that uses advanced pharmaceutic technologies to make medicines better, safer and easier to take, today announces successful completion of formulation development for its Safestat™ formulations of Atorvastatin and Simvastatin, leading generic statin drugs.

The Company has already announced its Safestat™ program which aims to re-formulate the widely used molecules of atorvastatin and simvastatin into doses up to four times lower than the original dose but with the same lipid lowering efficacy as the original higher dose. Global revenue from statins in 2009 was over $27bn despite issues caused by side effects of statins leading to lack of compliance in patients taking these medicines. Safestat™ aims to overcome these issues and increase patient compliance for statins.

The Company has now developed and optimised formulations of both atorvastatin and simvastatin and proven in-vitro release under simulated human conditions.

Marcelo Bravo, Chief Technology Officer of Oxford Pharmascience commented,

"Completion of formulation development is a first important milestone in the Safestat™ programme and we are now ready to proceed to manufacture of GMP products for use in proof of concept clinical trials during 2013."

For further information:

Oxford Pharmascience Group Plc

Nigel Theobald, Chief Executive +44 1865 854874

N+1 Singer

Shaun Dobson/Jenny Wyllie +44 20 7496 3000

About Oxford Pharmascience Group Plc

Oxford Pharmascience Group Plc develops advanced yet practical pharmaceutical technologies to enable reformulation that adds value to off patent and soon to be off patent drugs. The Company does not manufacture or sell its own pharmaceutical products but instead seeks to license its technologies to a network of partners, mainly leading pharmaceutical companies with Rx (prescription) and OTC (Over the Counter) branded portfolios. These partners use our technologies to reposition their products helping them sustain market share and profitability by delivering improved health outcomes and/or clinical profiles via reformulated versions of the same API (active pharmaceutical ingredient).

Oxford Pharmascience Group Plc develops platform technologies that have application across multiple drug categories and can be leveraged across a broad range of reformulation problems. This business model allows us to provide solutions across the industry and fund the ongoing development of cutting edge technologies to better serve the needs of our partners. The partner companies who adopt our technology pay an up-front license fee followed by development milestone payments and then royalties on finished products sold using the technology. OXP invests the upfront licence fee to optimise product development and to ensure seamless technology transfer to the pharmaceutical partner.