22nd Oct 2008 09:55
22 October 2008
Sinclair Pharma plc ("Sinclair Pharma")
Update on Strategic Opportunity
On 7 August 2008, Sinclair Pharma announced that it was having discussions with a party regarding a strategic opportunity and that the discussions were at a preliminary stage. Since this time Sinclair Pharma has been actively engaged with this other party and discussions have progressed significantly.
However, given the current market volatility, both parties have agreed that now is not the right time to continue these discussions. Accordingly, further discussions on the strategic opportunity have ceased although Sinclair Pharma and the other party continue to believe in the merits of the opportunity they were pursuing and continue to communicate with each other. There can be no guarantee that the strategic opportunity will be pursued at a later date.
The board of Sinclair Pharma is confident about the strong prospects for Sinclair Pharma as was set out in the Company's final results statement announced on 1 October 2008 and the Company continues to trade inline with the Board's expectations.
Enquiries:
Sinclair Pharma plc - Tel: +44 (0) 1483 410 600
Dr Michael Flynn, CEO
Jerry Randall, CFO
Capital MS&L - Tel +44 (0)20 7307 5340
Mary Clark
Anna Mitchell
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Sinclair Pharma