Option with UCL to Explore Further Compounds

Oxford Pharmascience Group plc

("Oxford Pharmascience" or "the Company")

Oxford Pharmascience signs option with UCL to explore further compounds.

Oxford Pharmascience, the specialty pharmaceutical company that redevelops medicines to make them better, safer and easier to take, today announces that it has signed an option agreement with UCL ("University College London" to investigate 53 further compounds that it could potentially commercialise using UCL's Phloral™ technology.

Following closely working with UCL on the Company's program for Atorvastatin and Simvastatin, it has identified a further 53 compounds which might benefit from reformulation using Phloral™ to reduce their associated side effects.

The Company has agreed an option period until March 2014 to investigate the potential for these compounds with a further option period for another year to explore more thoroughly those compounds that it will identify to have the greatest commercial and clinical potential.

Nigel Theobald Chief Executive of Oxford Pharmascience commented

"Our focus on reformulating existing medicines to make them safer and easier to take is now gathering strong momentum with our programs for NSAIDs (non steroidal anti inflammatory drugs) and Statins.

There are many other drugs widely used where side effects reduce the tolerance or compliance in patients. This option allows us to explore a range of potential drug candidates which fit with this strategy without taking our eyes off the existing programs.

We are committed to building a strong portfolio of reformulated drugs to deliver the high returns of new drug development but without the high risks."

For further information:

Oxford Pharmascience Group Plc

Nigel Theobald, Chief Executive +44 1865 854874

N+1 Singer

Shaun Dobson/Jenny Wyllie +44 20 74963000

About Oxford Pharmascience Group Plc

Oxford Pharmascience Group Plc uses a range of proprietary technology platforms to re-develop existing medicines to make them better, safer or easier to take. The Company does not manufacture or sell its own pharmaceutical products direct to consumers but instead seeks to license its technologies and dossiers to a network of partners, mainly leading pharmaceutical companies with Rx (prescription) and OTC (Over the Counter) branded portfolios.

Oxford Pharmascience Group Plc focuses on existing medicines that are proven to be safe and effective but nevertheless still have associated issues and side effects often affecting compliance. By working with such medicines the Company is able to develop new innovative products for a fraction of the cost, in much quicker timescales and without the high risk of failure associated with developing new drugs.

About UCL (University College London)

Founded in 1826, UCL was the first English university established after Oxford and Cambridge, the first to admit students regardless of race, class, religion or gender, and the first to provide systematic teaching of law, architecture and medicine. We are among the world's top universities, as reflected by performance in a range of international rankings and tables. UCL currently has 24,000 students from almost 140 countries, and more than 9,500 employees. Our annual income is over £800 million.

www.ucl.ac.uk