LONDON, UK, Tuesday, June 26, 2007 - SkyePharma PLC (LSE:SKP.L - News) today announces that it has entered into an exclusive agreement with Somnus Therapeutics ('Somnus') for the worldwide development and commercialisation of its sleep therapeutic, SKP-1041. SKP-1041 is a new controlled release formulation of a non-benzodiazepine hypnotic agent which utilises SkyePharma's Geoclock(TM) technology. As part of the agreement, SkyePharma will formulate and manufacture SKP-1041. Recent estimates suggest that the worldwide market for hypnotics is $3 billion.
