28th Oct 2005 17:41
Henderson Morley PLC28 October 2005 FOR IMMEDIATE RELEASE 28 OCTOBER 2005 HENDERSON MORLEY PLC (AIM) Business: Drug Discovery Company Issue of Equity & Patent Update Henderson Morley plc ("the Company") announces that the Board has, today, issuedand allotted, conditional upon Admission, a total of 50 million new Ordinaryshares through a Placing to an investor at a price of 0.5p per share, raising£250,000 for the Company. The total number of shares in issue is now383,928,632. The purpose of this Placing is to provide the Company with working capital tocontinue to invest in its research and development and intellectual property. 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 Company continues to invest in patents for the further development of itsplatform technology, ICVT, and has recently received notification that theCompany has been granted a second EU patent for the ICVT platform. Several new patent applications have been filed, including patents addressingspecific product formulations, improved and enhanced potency of ICVT and for theuse of ICVT in completely different (ie non viral) disease areas addressingsignificant unmet medical need. --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 4600Andrew Knight, Chairman BREWIN DOLPHIN SECURITIES LTD Tel: 0113 241 0126Neil Baldwin BISHOPSGATE COMMUNICATIONS LTD Tel: 020 7430 1600Maxine Barnes Mobile: 07860 489571Dominic Barretto Notes to Editors Ionic Contra Viral TherapyDeveloped 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