Result of EGM

RNS Number:9769J
M.L. Laboratories PLC
14 April 2003

Embargoed until 07:00                                              14 April 2003


                              ML Laboratories PLC

                DISPOSAL OF ICODEXTRIN MANUFACTURING BUSINESS


The Board of ML Laboratories PLC (ML) is pleased to announce that at the
Extraordinary General Meeting held on the 11th April ML's shareholders approved
the disposal of the company's Icodextrin manufacturing business to Baxter
Healthcare Limited as announced on the 24th March 2003.

The disposal is expected to complete on the 15th April 2003 and is in line with
the company's strategy to divest of non-core assets to enable it to focus on the
development of its pipeline of biopharmaceutical products and technologies.


Contacts:

Stuart Sim                                             01925 844 700
ML Laboratories plc

Ben Padovan/Graham Herring                             020 7067 0700
Weber Shandwick Square Mile


Note to Editors -

ML LABORATORIES PLC

ML is a biopharmaceutical product development company with a pipeline of future
products targeted at specialist markets.  ML's activities are supported by a
growing income stream from marketed products it has successfully developed and
licensed to other pharmaceutical companies which include Baxter, Shire and
Celltech.

New therapeutic products in clinical development include cancer treatments for
liver, head, neck and prostate cancer, a pain management compound prepared to
enter Phase III studies, a preventative of sexually transmitted infections,
including HIV and a phosphate binder to assist the management of kidney failure.
ML's portfolio of early stage development projects includes unique polymer/
drug molecules to provide safer and more potent cancer chemotherapy and
technologies for use in the discovery and manufacture of biotechnology products.

In addition ML provides inhaled drug delivery solutions to the global
pharmaceutical industry through its dedicated respiratory subsidiary Innovata
Biomed.


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