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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Henderson Mrly. | LSE:HML | London | Ordinary Share | GB0030711229 | ORD 0.125P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.085 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHML RNS Number : 4735I Henderson Morley PLC 12 March 2010 HENDERSON MORLEY PLC (AIM: HML) LETTER OF INTENT The Board of Henderson Morley plc ("Henderson Morley"), the AIM quoted biotechnology company, is pleased to announce that subsequent to the announcement on 16 February 2010, it has now received a further Letter of Intent ("LOI"), from specialist therapeutic drug development company, KMS Therapeutics, ("KMS") to enable the two companies to further their discussions, in respect of the intellectual property rights ("IPR") of Henderson Morley's ionic contra-viral therapy ("ICVT") human portfolio. The headline points in the LOI are: · Commencement of a 9 week legal and other due diligence period expiring 14 May 2010 · Subject to the above, a license agreement will provide for a payment of up to US$5 million based on certain milestones · This includes an initial US$1.3 million minimum payable on the commencement date of the licence · KMS will assume all costs for patent protection from date of licence · Double digit percentage royalties payable on commercialisation Additionally, Henderson Morley has undertaken that during the due diligence period it will not execute any other agreements with any other parties in respect of the sale of ICVT applications without first informing KMS of its intention to do so. KMS is a specialist therapeutic drug development company that was established by a number of former Merck Generics Senior Executives including Hank Klakurka, former CEO, Steve Self, former Global R&D Director and Martin Marino, former Chief Legal Counsel. This company's model takes high potential drug candidates through clinical trials, regulatory and into production and sales. It currently has four development projects in its pipeline, one of which is a respiratory project and the other three are anti-infectives. Commenting on this additional Letter of Intent, Executive Chairman Andrew Knight said: "That these negotiations have moved to a detailed and formalised LOI is very encouraging for both parties. We look forward to ensuring that the due diligence proceeds as quickly as possible." -END- Enquires HENDERSON MORLEY PLC 0121 442 4600 Andrew Knight, Chairman BISHOPSGATECOMMUNICATIONS LTD 0207 562 3350 Maxine Barnes Gemma O'Hara BREWIN DOLPHIN INVESTMENT BANKING 0845 213 4730 Neil Baldwin RIVINGTON STREET CORPORATE FINANCE 0207 562 3380 Dru Edmonstone Further information on Henderson Morley plc can be accessed through the Company's website at www.henderson-morley.com This information is provided by RNS The company news service from the London Stock Exchange END LOISFDFWFFSSEED
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