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Pharmagene PLC Announces Clinical Trial Results Of PGN1164


10/19/2005 5:10:41 PM

29 April 2005

Clinical Trial Results - PGN1164

Pharmagene plc (LSE: PGN) announces that it has discontinued clinical evaluation of PGN1164, the lead compound in its R1 programme. The preliminary data from healthy volunteers in the initial Phase I study have shown variable pharmacokinetics in man.

Pharmagene's R1 programme has developed a series of novel 5HT2B antagonists to treat irritable bowel syndrome (IBS). The results received in relation to PGN1164 now mean that pre-clinical evaluation will continue with other compounds from the series.

Ronald Openshaw, Acting Chief Executive Officer, said "Despite these clinical trial results, PGN1164 is a single compound from the overall R1 programme for the treatment of irritable bowel syndrome. We continue to believe that this novel programme has significant potential and remain in discussions with potential partners regarding its future development".

Ends

Notes to Editors

Pharmagene plc Founded in 1996, Pharmagene is a drug discovery company whose aim is to identify and develop novel treatments for human disease. To achieve this objective, Pharmagene focuses solely on the use of fully consented human tissue for which it has established, and maintains, one of the most effective tissue supply networks in the world. Pharmagene is undertaking internal therapeutic research programs all with novel mechanisms of action elucidated by the Company, to generate substantial intellectual property. In addition, Pharmagene provides services to add value to the drug discovery process. It has built a solid reputation and a broad customer base across the pharmaceutical industry. Further information on Pharmagene can be found at www.pharmagene.com



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