20th Mar 2006 07:02
Henderson Morley PLC20 March 2006 FOR IMMEDIATE RELEASE 20 MARCH 2006 HENDERSON MORLEY PLC (AIM) HENDERSON MORLEY SIGNS CONTRACT FOR ICVT The Board of Henderson Morley plc ("Henderson Morley" or "the Company"), the AIMlisted Drug Discovery Company, announces that it has today signed a term sheetwith an un-named dermatological pharmaceutical company based in the UnitedStates of America for a potential licensing deal between the two companies. The term sheet, which contains certain binding clauses, including a lock-outperiod, gives both parties 90 days to complete a licence which will be grantedby Henderson Morley for the topical patch formulation of its Ionic Contra ViralTherapy ("ICVT") technology P1723. It is expected that the technology will beused to produce products ("Licensed Products") for the treatment of allnon-genital warts, including plantar warts or verrucae, and seborrhoeickeratoses in humans, a wart-like skin condition which is common in the elderly. The term sheet also states that the licence territory ("Territory") will coverthe United States of America, Canada and Mexico and that the licensee will fundand use all reasonable efforts to bring the Licensed Products to market througha programme which includes the preclinical and clinical development of thetreatment including research and development, manufacture, laboratory andclinical testing, and marketing of the Licensed Products. Upon signing a licence, Henderson Morley will be entitled to receive a series ofsubstantial milestone, development and commercialisation payments during theprogramme referred to above. Details of these payments will be given at thattime. Commenting on the announcement, Andrew Knight, chairman of Henderson Morleysaid: "The granting of this licence will be a major step forward for theCompany. Once the licence has been signed, we will be in a position to giveshareholders details of the milestone and other payments which the Company willreceive, demonstrating the importance of this agreement. Furthermore, we believeit will set the parameters from which to secure further licences for otherapplications of the technology. --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 H-B CORPORATE Tel: 020 7538 1166Jon Levinson BISHOPSGATE COMMUNICATIONS LTD Tel: 020 7430 1600Maxine Barnes Mobile 07860 489571Scott Robertson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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