Interim Results

Oxford Pharmascience Group Plc

("Oxford Pharmascience" or "the Company")

Oxford Pharmascience Group Plc is pleased to announce its unaudited interim results for the six months to 30 June 2011. A copy of the interim report will be distributed to shareholders and will also be made available on the Company's website at www.oxfordpharmascience.com.

Chairman's Statement

This is my first Chairman's statement since joining the Board on April 12th. I believe that this a very exciting time for the Company, and our change of name to Oxford Pharmascience during the period reflects our focus on an exciting new sector. There are several major factors reshaping the global pharmaceutical market and I believe Oxford Pharmascience is well placed to take advantage of these changes.

It is becoming increasingly difficult and expensive to bring new drugs to market. Regulatory hurdles are more demanding, the timescales are becoming longer and the total costs of clinical trials can be prohibitive even for the larger biotechnology companies. Add to this the high risk of failure for any new drug and one can understand why the industry is in some turmoil.

Another issue for the sector is that many of the blockbuster drugs are either off patent or the patents are close to expiry. Without patent protection, these drugs can be made or sold by rival pharma companies. These generic drugs are now an important part of the global pharmaceutical market, and have seriously impacted the profitability of Big Pharma.

Oxford Pharmascience has developed a portfolio of pharmaceutic technologies which allows us to effectively "re-develop" existing drugs. Specifically, the Company is using advanced drug delivery and pharmaceutic technologies to formulate products that are easier or more pleasant to take. This is particularly relevant for the geriatric or paediatric markets. We are also developing modified releaseformulations that have various clinical benefits.

We believe that our technology is attractive to many pharma companies who may want to enhance and improve their existing products. We recently signed our first partnership agreement with Aché Laboratórios Farmacêuticos S.A., ("Aché"), one of Brazil's largest pharmaceutical companies distributing over 250 brands of prescription and generic drugs and over-the-counter products.

We also envisage taking off-patent drugs and re-developing new improved drugs that are patent protected. As an example of this, the Company has recently established proof of concept for the taste masking of ibuprofen, which has removed the typical burning sensation on the throat. We have already seen considerable industry interest in our ibuprofen technology. We are now proceeding to develop "no burn" chewable and liquid ibuprofen and other Non-steroidal anti-inflammatory drugs (NSAID) products.

World leading science and intellectual property is at the core of our technology portfolio. The company works closely with leading academic institutions to strengthen its intellectual property. As part of this, the company has signed a worldwide exclusive licensing agreement with the University of Oxford, to develop and commercialise products utilising a novel drug delivery technology which is the basis for our NSAIDs programme. As well as outstanding taste masking properties, this technology provides for enhanced drug stability to major drug categories such as NSAIDs, statins and certain antibiotics.We have also recently signed an exclusive option to license and research an advancedcolonic drug delivery technology from The School of Pharmacy, University of London, with a specific intention to develop and commercialise a novel application for a major drug category.

The challenge for the Company going forward will be twofold. First, we must continue to develop excellent science into innovative products that industry wants and requires. Second, we must commercialise these products with major pharma companies to secure a profitable route to market. I believe that we have the team and technology to achieve these objectives and look forward to the future with confidence.

David Norwood

Chairman

19 September 2011

The loss for the year arises from the Group's continuing operations.

Approved by the Board and authorised for issue on 19 September 2011.

Nigel Theobald Chief Executive Officer Michael Bretherton Finance Director

1) BASIS OF PREPARATION

The interim financial statements of Oxford Pharmascience Group Plc are unaudited condensed consolidated financial statements for the six months to 30 June 2011. These include unaudited comparatives for the six months to 30 June 2010 together with audited comparatives for the year to 31 December 2010.

The Company was incorporated on 7 October 2009 as Oxford Nutrascience Group Plc and changed its name to Oxford Pharmascience Group Plc on 19 May 2011. The Company was specifically created to implement a re-organisation in relation to Oxford Pharmascience Limited (formerly Oxford Nutrascience Limited) which would permit admission of the Group to the AIM market. Under the re-organisation, Oxford Pharmascience Limited became a wholly owned subsidiary of Oxford Pharmascience Group Plc on 27 January 2011.

Shareholders in the company at the time of re-organisation received shares in Oxford Pharmascience Group Plc in the same proportionate interest as they had in Oxford Pharmascience Limited. The business, operations, assets and liabilities of the Oxford Pharmascience Group under the new holding company immediately after the re-organisation were no different from those immediately before the re-organisation and the Directors have therefore treated this combination as a simple re-organisation using the pooling of interests method of accounting.

The condensed consolidated financial statements do not constitute statutory accounts. The statutory accounts for the year to 31 January 2011 have been reported on by the auditors to Oxford Pharmascience Group Plc and have been filed with the Registrar of Companies. The report of the auditors was unqualified and did not contain a statement under section 498 of the Companies Act 2006.

2) SIGNIFICANT ACCOUNTING POLICIES

The condensed consolidated financial statements have been prepared under the historical cost convention in accordance with International Financial Reporting Standards as adopted by the European Union.

The accounting policies adopted are consistent with those followed in the preparation of the annual financial statements of Oxford Pharmascience Limited for the year ended 31 December 2010.

3) SEGMENTAL REPORTING

Primary reporting format - business segments 

At 30 June 2011, the Group operated in one business segment, that of the development and commercialisation of medicines via reformulation using advanced pharmaceutic technologies to add value to generic and soon to be generic drugs. All revenues have been generated from continuing operations and are from external customers.

Secondary reporting format - geographical segments

The Group operates in three main geographic areas, although all are managed in the UK. The Group's revenue per geographical segment is as follows:

All the Group's assets are held in the UK and all of its capital expenditure arises in the UK.

4) TAXATION

The Group has accumulated losses available to carry forward against future trading profits. No deferred tax asset has been recognised in respect of tax losses since it is uncertain at the balance sheet date as to whether future profits will be available against which the unused tax losses can be utilised.

5) LOSS PER SHARE (BASIC AND DILUTED)

Basic loss per share is calculated by dividing the loss attributable to equity holders of the parent by the weighted average number of ordinary shares in issue during the period. Diluted loss per share is calculated by adjusting the weighted average number of ordinary shares in issue during the period to assume conversion of all dilutive potential ordinary shares.

The weighted average number of shares reflects the number of ordinary shares issued by Oxford Pharmascience Group Plcto acquire Oxford Pharmascience Limited up to the acquisition date and the total number of shares in issue for the period post the acquisition.

The Company has issued employee options over 7,500,000 ordinary shares which are potentially dilutive. There is however, no dilutive effect of these issued options as there is a loss for each of the periods concerned.

6) SHARE CAPITAL

As permitted by the provisions of the Companies Act 2006, the Company does not have an upper limit to its authorised share capital.

The acquisition of Oxford Pharmascience Limited has been accounted for as a re-organisation using the pooling of interests method of accounting as set out in notes 1and 2 to these financial statements and under which the shares issued by the Company are recorded at nominal value together with an amount established as Merger reserve in order to replicate the total issued capital of Oxford Pharmascience Limited as at the acquisition date.

7) RELATED PARTY TRANSACTIONS

During the period the Company entered into the following transactions with ORA Capital Limited (a wholly owned subsidiary of a significant corporate shareholder which as at 30 June 2011 held 34.9% of the Company's issued share capital).

During the six month period ended 30 June 2011, the Company entered into numerous transactions with its subsidiary company which net off on consolidation - these have not been shown.

In addition, during the period the Company paid remuneration to the Directors' in accordance with their service contracts and letters of appointment.

8) INTERIM FINANCIAL REPORT

A copy of this interim report will be distributed to shareholders and is also available on the Company's website at www.oxfordpharmascience.com 

For further information:

Oxford Pharmascience Group Plc

Nigel Theobald, Chief Executive +44 1865 854874

ZAI Corporate Finance (Nominated Adviser)

John Depasquale +44 20 7060 2220

Sarang Shah +44 20 7060 2220

Hybridan LLP (Broker)

Claire Noyce +44 20 7947 4350