Result of Meeting - Approval of Placing

Oxford Pharmascience Group plc ("Oxford Pharmascience" or the "Company")

Result of General Meeting - Approval of Placing

Oxford Pharmascience, the specialty pharmaceutical company that uses advanced pharmaceutic technologies to reformulate medicines, announces that at its General Meeting held this morning at 10 a.m., the resolution was duly passed. 

Accordingly, the conditional placing announced on 26 November, 2012 is now unconditional in all respects save for admission of the 153,846,154 new ordinary shares of 0.1 pence each. Admission is expected to take place at 8 a.m. on Thursday 13 December, 2012.

Following Admission, the Company will have 730,869,952 Ordinary Shares in issue. Since the Company currently holds no shares in treasury, the total number of voting rights in the Company is therefore 730,869,952 and this figure may therefore be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Nigel Theobald, CEO, commented: 

"The Company looks forward to applying the proceeds from the placing to commercialising further its existing soft chew and taste-masking platforms, and to developing new applications including the colonic delivery statin products. 

Oxford Pharmascience recently confirmed a feasibility and option agreement with a major healthcare company for a multivitamin supplement using OXPchew technology, and a similar type of agreement with another major to develop a range of 'on the go' non-tablet, taste masked products using OXPzero. The Company can therefore look forward to ongoing positive newsflow as it builds further shareholder value from its reformulation platform and know-how."

For further information:

Oxford Pharmascience Group Plc

Nigel Theobald, Chief Executive +44 1865 854874

N+1 Singer

Shaun Dobson/ Aubrey Powell +44 20 7496 3000

About Oxford Pharmascience Group Plc

Oxford Pharmascience 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 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.