GODMANCHESTER, England, March 1, 2007 – Phytopharm plc (LSE: PYM) (“Phytopharm” or the “Company”) today announces that it has raised approximately £1.7 million before expenses (£1.5 million after expenses) by way of a conditional placing (the “Placing”) of 4,425,416 new ordinary shares of 1 pence each in the Company (“Ordinary Shares”). The proceeds will be used to strengthen the Company’s balance sheet and continue the development of its products.
