SR Pharma completes enrolment of phase II clinical trial for asthma      

London, UK. 24 June 2003*SR Pharma plc (LSE: SPA) today announces the
completion of enrolment in its phase II European clinical trial of SRP299, an
immunomodulator developed for the treatment of allergic diseases. In this
trial, 145 patients suffering from moderate asthma have been enrolled at sites
in the UK and Poland. Results are expected during the first half of 2004.

"The completion of enrolment in the asthma trial represents an important
milestone in the development of SRP299 for the treatment of allergic disorders.
SRP299's unique mode of action has the potential to offer significant
advantages over existing treatments. It stops the immune system from
over-reacting to non-threatening agents such as cat dander or house dust mites
and prevents asthma attacks and allergic reactions. Existing therapies treat
the symptoms of allergies or block reactions to specific allergens," commented
Dr David Hill, Chief Executive Officer of SR Pharma.

SRP299 is also being assessed in atopic dermatitis (eczema) in children.
Recruitment for this second phase II trial is ongoing in the UK and Ireland.
The trial should produce results during the second half of 2004.

About SR Pharma
SR Pharma plc (www.srpharma.com) was founded in 1992 and develops novel
medicines based on an improved understanding of the role played by the immune
system in combating disease. The company's proprietary technologies are the
source of a number of product developments. SR Pharma is currently evaluating
SRP299 and AVAC(tm) for the treatment of asthma and atopic dermatitis (eczema).
The company is also investigating SRL172 as a vaccine adjuvant in cancer and
infectious diseases. These products enhance the immune responses needed to
combat cancer and infection, while regulating those that mediate allergies.

About Asthma
Asthma is a chronic inflammatory disorder of the airways characterized by
episodic and reversible symptoms of airflow obstruction. Symptoms include
breathing difficulties, wheezing, coughing and chest tightness. It is the most
common chronic disease in children and young adults. According to the World
Health Organization about 150 million people around the world are asthmatic.
This number has grown by 50% over the last 10-15 years and is forecast to
double within the next 20 years. About 5-7% of the total population of
developed countries suffers from asthma with the prevalence reaching about
10-15% in children. Over 17 million people in the USA (including over 5 million
children) have the condition and this has grown by about 75% in the last two
decades. In the UK, over 3.4 million people (including 1.5 million children)
have asthma and about 18 million working days are lost each year due to the
disease. Asthma is estimated to cost the economies of the USA and the UK �11
billion and �2 billion per year respectively. The global market for asthma
treatments is estimated to be approximately �5 billion per year.

For further information please contact:
Steeve Lamontagne, SR Pharma plc
Tel: +44 (0) 20 7307 1628

Mobile: +44 (0) 7900 901 050
Email: s.lamontagne@srpharma.com



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