Board Changes

    RNS Number : 1131F
  Lipoxen PLC
  06 October 2008
   

    Lipoxen Plc ("Lipoxen" or "the Company")


    Lipoxen announces Board Changes

    London, UK, 06 October 2008 - Lipoxen PLC, (AIM:LPX) a biopharmaceutical company specialising in the development of high value
differentiated biologicals, vaccines and oncology drugs, today announces changes to its Board of Directors. With immediate effect Mr Igor
Nikolaev is appointed to the Company's Board, as a non-executive director and Dr Tatiana Zhuravskaya is stepping down.

    Mr Nikolaev was formerly Deputy Director of the Russian branch of the international law firm Clyde and Co. Prior to this he was at
Rothman's International in St. Petersburg where he was an in-house lawyer and advised on the merger with British American Tobacco. Mr
Nikolaev has also worked at Herbert Smith in London. His practice areas are corporate and commercial law, litigation and privatisation. 
    Dr Tatiana Zhuravskaya, a non-executive director at Lipoxen, is stepping down from the Board after six years but will remain with the
Company as a consultant focusing on project management. 
    M. Scott Maguire, CEO of Lipoxen, said: "I am delighted to welcome Mr Nikolaev to the team and look forward to working with him in his
new role as a Lipoxen board member. I regard this decision to join Lipoxen's Board as a great support to the Company's business and overall
market opportunity. I, and the rest of the Board, look forward to the valuable contribution he will make to the Company. We would also like
to thank Dr Zhuravskaya for her contributions to the Lipoxen board. Her technical expertise will continue to serve as valuable input on
project managing and existing collaborations, as well as on our product candidate portfolio." 

    FORMAL DISCLOSURE

    The Company makes the following formal disclosure in connection with the above-mentioned appointment:

    Full name: Igor Anatolievich Nikolaev
    Age: 41

    Directorships or partnerships current or held in the previous five years:

 Current Directorships    Appointed
 Pharma Industries Ltd  17 May 2007
 Pharma Research Ltd    17 May 2007


    Save as disclosed above, there is no other information required to be disclosed under Schedule 2, paragraph (g) of the AIM Rules for
Companies.


    - Ends -

     Enquiries 

 Lipoxen PLC
 M. Scott Maguire, Chief Executive Officer               [phone] 

 Landsbanki Securities (UK) Limited (nominated adviser)
 Shaun Dobson / Claes Spg                                [phone]

 Citigate Dewe Rogerson                                  [phone]
 David Dible / Heather Keohane


    Notes to Editors
    Further information on Lipoxen 

    Lipoxen PLC (AIM:LPX) is a biopharmaceutical company specializing in the development of high value differentiated biologicals, vaccines
and oncology drugs. Products currently under development include improved formulations of important biologicals such as erythropoietin
(EPO), G-CSF, insulin and Interferon-alpha. Lipoxen has two products in clinical development SuliXen, a long-acting human insulin and
ErepoXen[R], long-acting EPO. These novel products, which are based on Lipoxen's proprietary PolyXen[R] technology, each address markets in
excess of US$1 billion. 

    Lipoxen's technology is designed to improve the stability, biological half-life and immunologic characteristics of therapeutic proteins
naturally. Lipoxen has two further naturally-derived proprietary delivery technologies, ImuXen[R] and a related liposomal technology for the
formulation of cytotoxic oncology drugs, which are being developed to enhance the efficacy and safety of various vaccines such as a
multivalent Hepatitis B-E and pneumococcal vaccines, as well as a number of anti-cancer agents like paclitaxel. The Company's proprietary
delivery technologies are attracting significant interest and Lipoxen is currently co-developing products with the Serum Institute of India
Limited (one of the world's leading vaccine companies, India's largest biotech company and a major shareholder in Lipoxen) and has license
agreements in place with Baxter International and InterVet, a leading animal health company.

    Lipoxen was admitted to trading on the AIM Market of the London Stock Exchange in January 2006.

    This announcement includes 'forward-looking statements' which include all statements other than statements of historical facts,
including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for
future operations (including development plans and objectives relating to the Company's products and services), and any statements preceded
by, followed by or that include forward-looking terminology such as the words 'targets', 'believes', 'estimates', 'expects', 'aims',
'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or similar expressions or the negative thereof. Such
forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that
could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or
achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the
environment in which the Company will operate in the future. Among the important factors that could cause the Company's actual results,
performance or achievements to differ materially from those in forward-looking statements include those relating to The Company's funding
requirements, regulatory approvals, clinical trials, reliance on third parties, intellectual property, key personnel and other factors.
These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change
in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are
based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.


This information is provided by RNS
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