OXPchew Feasibility and Option Agreement

Oxford Pharmascience Group plc

("Oxford Pharmascience")

Oxford Pharmascience announces OXPchew Feasibility and Option agreement with Major Healthcare Company

Oxford Pharmascience, the specialty pharmaceutical company that uses advanced pharmaceutical technologies to reformulate medicines, today announces it has signed a feasibility and option agreement with a major healthcare company ("The Company") to develop a dietary supplement product using OXP's chew technology for The Company.

Under the terms of the agreement, The Company has engaged Oxford Pharmascience to develop prototype products using its OXPchew technology and received an option to negotiate an exclusive licensing agreement to sell those products under its main multivitamin brand. 

Nigel Theobald, Chief Executive, Oxford Pharmascience Group Plc, commented:

"This deal represents further progress in the development of our OXPchew business, which is now providing strong and growing revenue. We are making great progress in the £1bn global calcium market and this agreement provides the potential opportunity for us to enter the even larger £4bn+ multivitamin market, with a leading global Multivitamin brand.

We continue to show that our technologies once commercialised are capable of attracting some of the best healthcare companies worldwide as partners".

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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.