Placing

RNS Number:2576M
GeneMedix PLC
12 June 2003


                                 GENEMEDIX PLC


                         Placing of new shares for cash


GeneMedix plc ("GeneMedix" or "the Company"), the UK multi-sourced
biopharmaceutical company with operations in Europe and Asia and with joint
London and Singapore Stock Exchange listings, announces that, in response to
investor demand it is raising approximately #1.5 million before expenses through
a placing for cash of 8,983,003 new ordinary shares.  The new shares, which
represent approximately 3 per cent. of GeneMedix's issued share capital prior to
the placing, have been placed with a number of investors in Singapore and
Malaysia at a placing price of 16.65 pence per share.  The placing price
represents a discount of approximately 10 per cent. to the closing middle market
price on London Stock Exchange on 11 June 2003.



Paul Edwards, Chief Executive Officer, commented:

"As we announced today in a separate press release, we have signed a letter of
intent to establish a new company in Malaysia to develop and commercialise our
insulin know-how. As part of this venture, local investors in Malaysia and
Singapore were contacted to secure equity financing for the new company.  Some
of these investors expressed an interest in investing directly in GeneMedix and
this placing provides them with the opportunity to secure a valuable
shareholding in GeneMedix.



The new shares will, when issued and fully paid, rank pari passu with the
existing issued GeneMedix shares.  Application will be made today to the UK
Listing Authority for the new shares to be admitted to the Official List.
Application will also be made to the London Stock Exchange for the new shares to
be admitted to trading on its market for listing securities.  It is expected
that admission to listing of such securities will become effective and dealings
on the London Stock Exchange will commence on 24 June 2003 and shortly
thereafter in Singapore.



                                                                    12 June 2003


ENQUIRIES:

GeneMedix plc                                                 Tel: [phone]
Paul Edwards, Chief Executive Officer

College Hill                                                  Tel: [phone]
Nicholas Nelson
Clare Warren




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