HML Henderson Mrly.

 

TIDMHML 
 
RNS Number : 6906L 
Henderson Morley PLC 
11 May 2010 
 

                                                                     11 MAY 2010 
 
 
                              HENDERSON MORLEY PLC 
 
                                   (AIM: HML) 
 
                        UPDATE REGARDING LETTER OF INTENT 
 
The Board of Henderson Morley plc ("Henderson Morley" or the "Company"), the AIM 
quoted biotechnology company, today updates the market regarding the Letter of 
Intent ("LOI") signed by specialist therapeutic drug development company, KMS 
Therapeutics, ("KMS"). 
 
KMS remains committed to the LOI, which as previously stated, is in respect of 
the intellectual property rights (IPR) of its ionic contra-viral therapy 
("ICVT") human portfolio. On completion of the transaction, which is conditional 
on satisfactory due diligence, KMS has agreed to pay Henderson Morley an 
additional payment of not less than $250,000 in exchange for consultancy 
services or other specialized work as directed by KMS, and agreed to by 
Henderson Morley, to help accelerate the time to markets for the products. 
 
Additionally, subsequent to the announcement on 12 March 2010, KMS has requested 
an extension to the due diligence period to 14 July 2010 which Henderson Morley 
has granted. All other points in the LOI remain unchanged. 
 
Commenting Executive Chairman Andrew Knight said: "We are encouraged that KMS 
has agreed to pay an additional minimum of $250,000, subject to completion of 
the transaction, which further demonstrates their confidence in the ICVT 
platform technology. They have also informed the Company that they now expect to 
be in a position to complete the due diligence, and make the first milestone 
payment by the extended date." 
 
Martin Marino, VP of KMS Therapeutics added: "The due diligence is proceeding 
well and we remain focussed on the completion of this agreement. We have also 
now agreed a consultancy fee, payable to Henderson Morley, of not less than 
$250,000, in recognition of the contribution it will make to the development 
project. It is anticipated that Henderson Morley will commence its work 
immediately after closing and that the first $250,000 will be earned within the 
initial twelve month period." 
 
 
 
 
                                      -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 
Jon Levinson 
 
Further information on Henderson Morley plc can be accessed through the 
Company's website at www.henderson-morley.com 
 
Notes to Editors 
 
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. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 LOIGCGDUCDBBGGB 
 

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