John Russell, Minster Pharmaceuticals’ Chairman, will make the following comments:
“I am pleased to report that we have started the current year with continued confidence in the commercial potential of our key assets, tonabersat and sabcomeline.
“Our near term objective is to define the development pathways in multiple indications for both compounds and I am delighted that Raj Kumar, the former Vice-President and Global Head of Clinical Psychiatry at GSK, is to assist us in defining these pathways.
“As announced in a separate release this morning, Raj Kumar has substantial experience of the commercialisation of CNS products and already has a detailed knowledge of both of our compounds, having worked on their early development at SmithKline Beecham.
“Last year, we reported positive results from a Phase II trial of tonabersat in migraine with aura, conducted by Professor Jes Olesen in Denmark. We look forward to the publication of the results in the near future in a peer-reviewed journal.
“We have a balance sheet with sufficient strength to finance our current development plans for at least the next two financial years, during which time we will seek to build shareholder value through our existing assets and by a willingness to consider all options to deliver our goal of creating a sustainable business."
