Letter of Intent Signed
12 Marzo 2010 - 8:00AM
UK Regulatory
TIDMHML
RNS Number : 4735I
Henderson Morley PLC
12 March 2010
HENDERSON MORLEY PLC
(AIM: HML)
LETTER OF INTENT
The Board of Henderson Morley plc ("Henderson Morley"), the AIM quoted
biotechnology company, is pleased to announce that subsequent to the
announcement on 16 February 2010, it has now received a further Letter of Intent
("LOI"), from specialist therapeutic drug development company, KMS Therapeutics,
("KMS") to enable the two companies to further their discussions, in respect of
the intellectual property rights ("IPR") of Henderson Morley's ionic
contra-viral therapy ("ICVT") human portfolio.
The headline points in the LOI are:
· Commencement of a 9 week legal and other due diligence period expiring
14 May 2010
· Subject to the above, a license agreement will provide for a payment of
up to US$5 million based on certain milestones
· This includes an initial US$1.3 million minimum payable on the
commencement date of the licence
· KMS will assume all costs for patent protection from date of licence
· Double digit percentage royalties payable on commercialisation
Additionally, Henderson Morley has undertaken that during the due diligence
period it will not execute any other agreements with any other parties in
respect of the sale of ICVT applications without first informing KMS of its
intention to do so.
KMS is a specialist therapeutic drug development company that 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.
Commenting on this additional Letter of Intent, Executive Chairman Andrew Knight
said: "That these negotiations have moved to a detailed and formalised LOI is
very encouraging for both parties. We look forward to ensuring that the due
diligence proceeds as quickly as possible."
-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 0845 213
4730
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
LOISFDFWFFSSEED
Grafico Azioni Henderson Mrly. (LSE:HML)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Henderson Mrly. (LSE:HML)
Storico
Da Giu 2023 a Giu 2024
Notizie in Tempo Reale relative a Henderson Mrly. (Borsa di Londra): 0 articoli recenti
Più Henderson Morley Articoli Notizie