Statement re Subsidiary
July 16 2008 - 8:06AM
UK Regulatory
RNS Number : 2096Z
Phoqus Pharmaceuticals PLC
16 July 2008
Appointment of administrator
West Malling, UK, 16 July 2008: Phoqus Pharmaceuticals plc ("Phoqus" or the "Company" (LSE: PQS) announces that the Board has resolved
to place its principal trading subsidiary Phoqus Pharmaceuticals (UK) Ltd ("Subsidiary") into administration with immediate effect.
Phoqus has over recent months been in discussions with several third parties with a view to seeking a commercial partner for its lead
product Chronocort�. The Company recently announced that these discussions had effectively ceased without success. In light of this, the
Board of Phoqus has taken advice and with great regret no longer believes that the Subsidiary is in a position to continue operations. It is
expected that the appointment of Administrators will formally occur shortly.
Enquiries:
Phoqus Pharmaceuticals plc Tel: 01732 870227
Dr Richard Mason
Dr Peter Johnson
Nomura Code Securities Limited Tel: 020 7776 1200
Phil Walker
Juliet Thompson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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