Minster Pharmaceuticals plc (AIM: MPM), the drug development company specialising in neurological and psychiatric disorders, will hold its Annual General Meeting this morning, at which John Russell, the Company’s Chairman, will make the following comments:
“I am pleased to report that the current year has started well. Our 500-patient Phase IIb study of tonabersat in the prevention of migraine is now fully enrolled and we look forward to the results of the study in the early part of 2009. These results will provide the impetus for increased momentum in discussions with potential licensing partners for the commercialisation of the compound.
“The prevention of migraine is one of the fastest growing segments of the pharmaceutical market, which, combined with our clinical work to date, gives us confidence that Minster is ideally positioned to become a significant force in the migraine market.
“We also continue to progress the earlier stage opportunities in our pipeline including sabcomeline in schizophrenia and tonabersat in the further indications of neuropathic pain and epilepsy.”
For further information:
Minster Pharmaceuticals plc Tel: +44 (0) 1799 506623
Paul Sharpe, Chief Executive Officer
Robert Aubrey, Chief Financial Officer
Buchanan Communications Tel: +44 (0) 20 7466 5000
Mark Court
Rebecca Skye Dietrich
Catherine Breen
Nomura Code Securities Limited Tel: +44 (0) 20 7776 1200
Richard Potts
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 .