Letter of Intent Signed


 

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 
 
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