3rd May 2006 13:40
Henderson Morley PLC03 May 2006 FOR IMMEDIATE RELEASE 3 MAY 2006 HENDERSON MORLEY PLC (AIM) Business: Drug Discovery Company Issue of Equity & Update on Contract Negotiations Henderson Morley plc ("the Company") announces that the Board has, today, issuedand allotted, conditional upon Admission, a total of 18 million new Ordinaryshares through a Placing to investors at a price of 2.5p per share, raising£450,000 for the Company. The total number of shares in issue is now401,928,632. The purpose of this Placing, notwithstanding the upfront milestone paymentswhich will be receivable under the proposed licensing agreement, is to providethe Company with working capital to continue to invest in its patent portfolioand the ongoing development of ICVT. Application will be made for the new shares to be admitted to AIM and trading inthe new shares is expected to commence as soon as practicable. The negotiations for the licensing agreement in respect of ICVT which wereannounced on 20 March 2006 are progressing well. The Pharmaceutical Company inquestion has notified the Company that it wishes to extend the scope of theproposed licence to include other applications and we are in discussions withthem in this respect. We still expect to be able to announce the signing of thefinal contract and disclose its key terms within the original 90 day period. --ENDS-- Copies of this announcement will be available free of charge to the public atthe Company's registered office at Metropolitan House, 2 Salisbury Road,Moseley, Birmingham, B13 8JS and at the offices of Brewin Dolphin SecuritiesLtd, 34 Lisbon Street, Leeds LS1 4LX for 14 days. Enquiries: HENDERSON MORLEY PLC Tel: 0121 442 4600 Andrew Knight, Chairman BISHOPSGATE COMMUNICATIONS LTD Tel: 020 7430 1600 Maxine Barnes Mobile: 07860 489571Scott Robertson BREWIN DOLPHIN SECURITIES LTD Tel: 0113 241 0126 Neil Baldwin Notes to Editors Ionic Contra Viral Therapy Developed in-house by Henderson Morley, ICVT is an innovative compound fortreating virus infections. It exploits the little known finding, that many ofthe biological processes involved with virus DNA synthesis are sensitive tolocal potassium ion concentrations. ICVT uses a proprietary combination of two established drugs currently used incardiovascular medicine that have no prior use as anti-virals. The componentdrugs used in ICVT cause depletion of intracellular potassium and inhibit thereplication of DNA viruses, while normal host cell metabolism and function isonly minimally affected. By combining two compounds that act on ion transport indifferent ways, the antiviral effect is enhanced. This combination thereforeoffers the prospect of preventing viral replication with little or no adverseeffects. The anti-viral effects of the two drugs in ICVT are synergistic. The effects ofICVT on host cell metabolism have been measured in a variety of cell lines andthe rate of cell metabolism is unaffected by prolonged incubation with ICVT.Pilot human studies have not demonstrated any local or systemic toxicity whenused at anti-virally effective doses. Additionally, the component drugs used in ICVT have a long history of beingwidely co-prescribed in the treatment of cardiovascular disease. As such, ICVToffers potential in the treatment of a range of viral infections for whichcurrent therapy is inadequate, such as adenovirus. Further information on Henderson Morley plc can be accessed through theCompany's website at www.henderson-morley.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HML.L