Launch of OTCQX ADR Programme

RNS Number:4208S
Phynova Group PLC
16 April 2008


Press Release                                                      16 April 2008



                               Phynova Group plc

                                  ("Phynova")


           Phynova joins the US International OTCQX trading platform


Phynova Group plc (AIM: PYN), the developer of prescription pharmaceuticals
derived from plants used in Chinese medicines, today announces that its American
Depositary Receipts ("ADRs") are now trading on the US International OTCQX
platform under the symbol PHNVY.  As stated in the release issued on 28 March
2008, Phynova is retaining its primary listing on the UK AIM market.  Phynova
can issue ADRs in respect of up to 25% of its issued share capital. Each ADR
represents ten (10) of Phynova's Ordinary shares.


Robert Miller, Phynova's CEO, said: "As one of the first AIM-listed companies to
join the International OTCQX market, we are delighted to be pioneering this new,
cost-efficient route to the US pool of investment capital.  The timing is
opportune as we are about to commence the Phase IIb proof of concept trial for
our lead pipeline product, PYN17 for the treatment of the symptoms of hepatitis
C.  We see a major opportunity in the US for PYN17: more than 2% of the US
population is believed to be infected with this virus and the debilitating
symptoms persist even in the minority of patients who respond to antiviral
therapy, which itself carries a severe burden of drug-related side-effects.  We
are confident that our business model, based on development of pharmaceuticals
derived from traditional Chinese medicines with known efficacy and safety,
coupled with growing US interest in non-US securities, will translate into
improved liquidity in our shares."

                                    - Ends -



For further information, please contact:


Phynova Group PLC                                            [phone]
Robert Miller, Chief Executive Officer                           www.phynova.com

Nominated Adviser:
Nabarro Wells & Co. Limited                                 [phone]
Marc Cramsie

Broker:
Evolution Securities China Limited                          [phone]
Barry Saint


The Bank of New York Mellon                                    [phone]
Jason Paltrowitz


Media enquiries:

Abchurch Communications                                     [phone]
Peter Laing/Ashley Tapp/Stephanie Cuthbert
[e-mail]                            www.abchurch-group.com



Notes to Editors:



About Phynova

Phynova is a UK company developing prescription pharmaceuticals derived from
plants used in Chinese medicines. Phynova is focused on viral and metabolic
diseases and cancer. Phynova's lead product for hepatitis C has now completed a
Phase I/II trial in the US and the Phase IIb trial is scheduled to commence in
the first half of 2008. Two further products, for fatty liver disease and
post-operative ileus, are targeted for entry to the clinic over the next six
months and there are a further four products in preclinical development. For
further information please visit www.phynova.com.



About International OTCQX

Launched in March 2007 and operated by Pink Sheets, LLC, the International OTCQX
provides a gateway to U.S. securities markets for international companies that
are listed on a qualified international exchange and which undertake to provide
ongoing disclosure (in English) to U.S. investors. The OTCQX distinguishes the
reputable international issuers from the 8,000 over-the-counter (OTC) securities
traded in the U.S. Only leading companies that have substantial operating
businesses and provide credible disclosure to the public are eligible for
inclusion on the premium-tier International OTCQX. Each company listed on
International OTCQX must appoint a Principal American Liaison (PAL) to act as
sponsor and to ensure compliance with disclosure regulations. Major non-US
companies whose shares are now traded on the OTCQX platform (sometimes delisting
from other US exchanges) include British Gas, Nestle, Roche, Tate & Lyle, BASF
and Akzo Nobel. For more about International OTCQX, visit www.otcqx.com.



About Pink Sheets, LLC

Pink Sheets, LLC is the leading electronic inter-dealer quotation system,
trading technology and financial information provider for the over-the-counter
(OTC) securities markets. Its centralized information network includes services
designed to benefit market makers, issuers, brokers and OTC investors. Pink
Sheets information enhances the efficiency of OTC trading, provides better
executions for OTC investors and improves the capital formation process for OTC
issuers. For more information visit the Pink Sheets website at
www.pinksheets.com.



About Bank of New York Mellon

The Bank of New York Mellon will serve as Principal American Liaison ("PAL") for
Phynova's OTCQX quotation and will be responsible for maintaining Phynova's
Level one ADR programme as well as advising on disclosure requirements and
communications with the US market.  The Bank of New York Mellon, the leading
global depositary for Depositary Receipts, will also act as depositary for
Phynova's ADRs.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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