2nd Jun 2008 07:00
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For immediate release |
2 June 2008 |
MINSTER PHARMACEUTICALS PLC
("Minster" or "the Company")
Appointment of US development and marketing consultant
Minster Pharmaceuticals plc (AIM: MPM), the drug development company specialising in neurological and psychiatric disorders, is pleased to announce the appointment as a consultant in the US of Joseph Lofft, a highly experienced pharmaceutical executive who launched and oversaw the growth of Johnson & Johnson's Topamax in the prevention of migraine.
Mr Lofft has more than 20 years' experience in new product development, sales and marketing in the US pharmaceutical industry. His specific experience of the migraine prevention market is expected to be of immense value to Minster as the Company advances its clinical studies of tonabersat, its lead compound in migraine prevention.
Mr Lofft worked at Ortho-McNeil Neurologics, a Johnson & Johnson company, between 1993 and 2006. In 1999, he was appointed Director of Commercial Development - Topamax New Indications, a role in which he was responsible for the development of four new indications for Topamax including migraine prevention. In 2002 he was appointed Director of Marketing - Topamax, overseeing the launch and growth of the brand in migraine prophylaxis and achieving sales currently estimated at in excess of $1 billion in this indication.
Mr Lofft will work as a consultant to Minster and his primary roles will be to characterise the full commercial market opportunities for tonabersat in both the US and Europe and to raise the awareness of the scientific community to the novel mode of action of the compound as a neuronal gap junction blocker. His input is expected to enhance significantly the Company's presence in the global migraine market and assist the Company in positioning its compound to achieve the best possible outcome for all stakeholders.
Minster's tonabersat is currently in Phase IIb development in the US in a 500 patient study named TEMPUS (Tonabersat Evaluation in Migraine Prevention in the United States). The primary endpoint of the study is the reduction in the number of migraine attacks that patients suffer during the last eight weeks of a 20 week treatment period. The study has attracted many of the key opinion leaders in migraine throughout North America at specialist and general centres, where the need for an effective, preventive treatment for migraine is widely recognised.
The latest developments in the understanding of the mode of action of tonabersat will be presented later this month to the full plenary session of the American Headache Society's Annual Congress in Boston.
Paul Sharpe, Minster Pharmaceuticals' Chief Executive, said: "I am delighted that a pharmaceutical executive of Joseph Lofft's highly relevant experience will be working with Minster. Mr Lofft has an unrivalled knowledge of the migraine prevention market, which will be of immense value to Minster as we progress tonabersat in this rapidly developing indication."
For further information:
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Minster Pharmaceuticals plc |
Tel: +44 (0) 1799 506623 |
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Paul Sharpe, Chief Executive Officer |
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Robert Aubrey, Chief Financial Officer |
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Buchanan Communications |
Tel: +44 (0) 20 7466 5000 |
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Mark Court |
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Rebecca Skye Dietrich |
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Catherine Breen |
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Nomura Code Securities Limited |
Tel: +44 (0) 20 7776 1200 |
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Richard Potts |
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Gerard Harper |
Notes for editors:
About Minster Pharmaceuticals plc
Minster Pharmaceuticals is a drug development company focussed on neurological and psychiatric disorders. Its principal pipeline assets are tonabersat, under development in the preventive treatment of migraine, and sabcomeline in schizophrenia. Worldwide rights to both compounds were acquired from GlaxoSmithKline and the compounds benefit from comprehensive safety tolerance data as a result of investment by GSK.
Tonabersat is the leading compound in an exciting new class of selective drugs designated as neuronal gap junction blockers and offers the potential to prevent the onset of migraine as a preferred alternative to acute treatment. Sabcomeline, a muscarinic partial agonist, has potential in the treatment of chronic schizophrenia.
Minster's near-term focus is on the development and commercialisation of its current pipeline. Its medium term strategy is to leverage the anticipated cashflows from the current pipeline by in-licensing further compounds with the ultimate objective of creating a substantial and highly efficient drug development enterprise focussed on the central nervous system.
Minster joined the AIM market in February 2005 and trades under the symbol MPM. For further information please visit www.minsterpharma.com .
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