30 June 2009
Minster Pharmaceuticals plc (AIM: MPM), the drug development company specialising in neurological and psychiatric disorders, is delighted to announce that one of the most experienced executives in the commercialisation of CNS products, Dr Rajinder Kumar, is joining the Company as a consultant. Dr Kumar, the former Vice-President and Global Head of Clinical Psychiatry at GlaxoSmithKline, will assist in defining the development and commercialisation pathways in multiple indications for the Company’s clinical-stage assets, tonabersat and sabcomeline.
Dr Kumar has a detailed knowledge of both compounds, having worked on their early development at SmithKline Beecham, which became GlaxoSmithKline in 2000. Whilst at SmithKline Beecham Dr Kumar successfully led the development of a number of CNS drugs including Paxil, the anti-depressant that achieved sales in excess of $2 billion a year.
Dr Kumar left GlaxoSmithKline in 2002 and has subsequently held various positions at international pharmaceutical companies. He established his own consultancy, MeRaD Ltd, in 2005. Dr Kumar will begin his consultancy role at Minster on 1 July 2009.
Prior to joining the pharmaceutical industry, Dr Kumar had a successful academic career. He holds multiple scientific and medical qualifications, including psychiatry, and has written many scientific papers.
John Russell, Minster Pharmaceuticals’ Chairman, said: “I am delighted that Dr Raj Kumar has agreed to advise the Company on the development and commercialisation of tonabersat and sabcomeline. His substantial experience of the commercialisation of CNS products, and his existing knowledge of our two compounds, means we are confident that he will define the most appropriate way forward for our assets.”
For further information:
Minster Pharmaceuticals plc Tel: +44 (0) 1799 506623
John Russell, Chairman and Interim CEO
Karl Keegan, Chief Financial Officer Tel: +44 (0) 20 7936 9921
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
Chris Collins / Richard Potts
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 and sabcomeline. 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. Sabcomeline, a muscarinic partial agonist, has potential in the treatment of chronic schizophrenia and the strategy for its further clinical development is currently under consideration.
Minster joined the AIM market in February 2005 and trades under the symbol MPM. For further information please visit www.minsterpharma.com.