Further Letter of Intent
16 Febbraio 2010 - 8:00AM
UK Regulatory
TIDMHML
RNS Number : 1824H
Henderson Morley PLC
16 February 2010
16 February 2010
HENDERSON MORLEY PLC
(AIM: HML)
FURTHER LETTER OF INTENT
The Board of Henderson Morley plc ("Henderson Morley"), the AIM quoted
biotechnology company, is pleased to announce that it has received a Letter of
Intent ("LOI"), from a specialist therapeutic drug development company in
respect of the intellectual property rights (IPR) of Henderson Morley's ICVT
portfolio, specifically the Recurrent Respiratory Papilloma ("RRP") indication.
This LOI is additional to the LOI received by the Company in 2009 (see
announcement 8 October 2009).
The proposed sale of this IPR is still subject to further negotiation and
it is anticipated that a decision acceptable to each party will be completed
within approximately 45 days.
The specialist therapeutic drug development
company was established by a number of former Merck Generics Senior Executives
including Hank Klakurka, former CEO, Steve Self, former Global R&D Director and
Martin Marino, former Chief Legal Counsel. This company's model takes high
potential drug candidates through clinical trials, regulatory and into
production and sales. It currently has four development projects in its
pipeline, one of which is a respiratory project and the other three are
anti-infectives.
RRP is a rare and life threatening condition, that is characterised by the
growth of warts within the respiratory tract of sufferers. This may cause
blockage of the airway, which currently necessitates surgery, often required on
numerous occasions in affected individuals. As announced on 25 November 2009 the
Company submitted an orphan designation application to both the FDA and the
EMEA, which if successful, will give the RRP application of ICVT, 'orphan
status'. Orphan status allows certain regulatory and commercial advantages, such
as market exclusivity, reduced application fees and availability of grants.
Discussions to purchase the IPR regarding ICVT include, but are not limited to,
the orphan indication.
Simultaneously, Henderson Morley continues to negotiate with other parties
in respect of the sale of ICVT applications. This includes the specialist
pharmaceutical company based outside the EU that sent Henderson Morley an LOI in
October 2009 indicating its interest in the human applications of ICVT.
Henderson Morley specifically excluded from these negotiations, RRP, ophthalmic,
and veterinarian applications of ICVT.
Commenting on this additional
Letter of Intent, Executive Chairman Andrew Knight said: "We are delighted at
the interest the sale of ICVT has generated and we are continuing negotiations
with a number of parties and hope to conclude a deal as soon as
possible.
"The funds raised by the sale of ICVT will be used to bring the
Company's stated strategy of becoming a 'Pure Play' vaccine Company to fruition"
-END-
Enquires
HENDERSON MORLEY PLC
0121 442 4600
Andrew Knight, Chairman
BISHOPSGATECOMMUNICATIONS LTD 0207 562
3350
Maxine Barnes
Gemma O'Hara
BREWIN DOLPHIN INVESTMENT BANKING 0113 241
0126
Neil Baldwin
RIVINGTON STREET CORPORATE FINANCE 0207 562 3380
Dru Edmonstone
Further information on Henderson Morley plc can be accessed through the
Company's website at www.henderson-morley.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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