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PYN Phynova

1.375
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Phynova Investors - PYN

Phynova Investors - PYN

Share Name Share Symbol Market Stock Type
Phynova PYN London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 1.375 01:00:00
Open Price Low Price High Price Close Price Previous Close
1.375 1.375
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Posted at 06/2/2007 05:16 by fillyourboot
Big deal signed for Phynova

Phynova teams up with Hong Kong

By Mark Kleinman in Hong Kong

Last Updated: 1:22am GMT 06/02/2007






Phynova, the Aim-listed company searching for cancer cures based on plant extracts, will today announce a collaboration with a Hong Kong organisation affiliated to the city's Jockey Club.

The company, which marks its first anniversary as a UK-listed company this month, is expected to announce in a statement to the London Stock Exchange that it has signed a deal to work with the government-funded Jockey Club Institute of Chinese Medicine on the development of a series of new drugs. The company is relatively small in market value - £13m at yesterday's close - but executives are understood to believe it could be worth ten times that amount within a few years.

Last week, Phynova appointed entrepreneur Karl Watkin as its chairman. Mr Watkin has been involved with several listed companies including D1 Oils, the biodiesel producer, China Goldmines and Dermasalve, a developer of retail dermatology products.

Phynova's agreement in Hong Kong will mark the latest exposure of UK investors to the burgeoning Traditional Chinese Medicine (TCM) sector.

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