NEW YORK, NY--(Marketwire - February 19, 2013) - Morria Biopharmaceuticals Plc (OTCQB: MRRBY) (the "Company"), an emerging growth biopharmaceutical company focused on developing novel first-in-class, synthetic, multi-functional non-steroidal anti-inflammatory drugs, announced today that its American Depositary Shares ("ADSs") representing its ordinary shares have commenced trading on the OTC Bulletin Board in the United States under the ticker symbol MRRBY.
To enable the trading of Morria's ordinary shares in the United States, the Company's ordinary shares must be deposited with Deutsche Bank Trust Company Americas, the Company's depositary bank for its American Depositary Receipt (ADR) program. Each ADS represents two ordinary shares of the Company.
Mark Cohen, Executive Chairman of Morria, commented, "The commencement of trading of our securities in the U.S. is an important step for Morria and positions us for broad and diversified investor exposure. As we move forward with clinical development of our product candidates, we believe that having our ADSs publicly traded in the U.S. will help us in meeting our financing needs."
The quotation of Morria's ADSs on the OTC Bulletin Board has been approved by the Financial Industry Regulatory Authority, Inc. ("FINRA"). In November of 2012, the Company became a publicly reporting company under the US Securities Exchange Act of 1934, as amended, by filing a Form 20-F Registration Statement with the US Securities Exchange Commission (SEC). A Form F-6 Registration Statement for the registration of the Company's ADSs has been declared effective by the SEC.
About Morria Biopharmaceuticals
Morria Biopharmaceuticals is an emerging growth biopharmaceutical company focused on the development of first-in-class, multi-functional non-steroidal, synthetic anti-inflammatory drugs. Morria has developed a class of synthetic drugs termed MFAIDs (Multi-Functional Anti-Inflammatory Drugs) representing a new class and therapeutic platform for the treatment of a wide range of inflammatory diseases such as allergies and autoimmune diseases. Morria currently has two lead product candidates in its clinical pipeline, both of which have completed first-in-patient clinical studies: MRX-4, a nasal spray for treating allergic rhinitis (hay fever), and MRX-6, a topical cream for treating contact dermatitis (a common type of eczema); and pre-clinical programs in ophthalmology, cystic fibrosis, and inflammatory bowel disease. Morria's business strategy is to expand and build a biopharmaceutical business to focus on a spectrum of inflammatory diseases based on its current and upcoming first-in-class product candidates, that will address the current unmet need for safe and potent alternatives to steroids. www.morria.com.
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