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26 March 2009
Neuropharm Group plc (AIM: NPH), a specialty pharmaceutical company focused on developmental disorders, notes the existence of market rumour and the recent movement in its share price. The Company confirms that it received an indicative indication of interest with respect to a possible M&A transaction from a third party and that this interest is not being pursued. It further confirms that it is not currently in M&A discussions and is not aware of any specific reason for the share price movement.
As detailed in the Company’s half-year report for the six months ended 31 December 2008, announced on 17 March 2009, the Company had cash, cash equivalents and money market investments of £10.2 million at 31 December 2008. As noted in the joint statement from the Chairman and Chief Executive Officer, the Company is undertaking a detailed analysis and review of the future strategic alternatives for its lead programme NPL-2008 and for the Company, including the possibility of partnering NPL-2008 with a much larger pharmaceutical company.
For further information please contact:
Neuropharm +44 (0) 1372 371 171
Robert Mansfield, Chief Executive Officer
Graham Yeatman, Chief Financial Officer
Piper Jaffray Ltd. +44 (0) 20 3142 8700
Neil Mackison, Rupert Winckler
Buchanan Communications +44 (0) 20 7466 5000
Mark Court, Mary-Jane Johnson, Catherine Breen
Notes to Editors:
About Neuropharm
Neuropharm is a speciality pharmaceutical company focused on the development of medicines for the treatment and management of neurodevelopmental disorders. Please visit www.neuropharm.co.uk for further information.