* M6G partnering process has commenced. Phase III clinical data clarifies the value of the opportunity * Licensing discussions ongoing in relation to earlier portfolio programmes * Agreement signed with Rodman & Renshaw - appointed to assist in partnering of M6G
* Scientific Advisory Board (SAB) strengthened * Further progress in portfolio of carried interests
* Fund raising of ?.5 million net of expenses through placing new shares * Increased net loss after tax of ?.7 million (2005: ?.7million restated) due to planned increase in clinical development activities on M6G Phase III trial * Cash at year end of ?.3 million (2005: ?.5 million)
Alan Goodman, Chairman of CeNeS, said:
"CeNeS has taken a major step forward in the development of M6G and is now well placed to successfully commercialise its lead asset. The partnering process has begun and the Company is well positioned to deliver significant value to shareholders in the near-term."
For more information please contact: CeNeS Pharmaceuticals plc Neil Clark, CEO Tel: +44 (0)1223 266 466
JM Finn Geoff Nash Tel: +44(0) 207 628 9688
Financial Dynamics Ben Brewerton/Emma Thompson Tel: + 44 (0) 207 831 3113
About CeNeS Pharmaceuticals CeNeS is a biopharmaceutical company specialising in the development and commercialisation of drugs for pain control, sedation and other CNS disorders such as Parkinson's disease. The company is based in Cambridge, England. For further information visit the CeNeS web site: www.cenes.com.
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