RNS Number:2632U
Theratase PLC
15 January 2004



For Immediate Release

Thursday 15th January 2004



                                 THERATASE PLC



                       Investment in AM-Pharma Holding BV



Theratase plc, one of the UK's leading manufacturers and suppliers of specialist
enzymes and biochemicals to the diagnostic and pharmaceutical industries, today
announces a planned investment of Euro250,000 (approx. #173,000) in AM-Pharma
Holding BV ("AM-Pharma"). AM-Pharma is the Dutch joint venture, which was
founded in July 2000 to develop therapeutic and diagnostic treatment for sepsis,
septic shock and anti-microbial infections.



This investment forms part of a larger fundraising by AM-Pharma whereby it will
be raising a minimum of Euro1,750,000 (approx. #1.21m) in total.  These funds will
primarily be used by AM-Pharma to fund the extended Phase IIa clinical trials
using alkaline phosphatase, which is supplied by Theratase's wholly owned
subsidiary Biozyme laboratories Limited, in sepsis patients. The results of
these clinical trials are expected in Q3 2004 and if successful should greatly
enhance the value of AM-Pharma.



Theratase's investment will be made in the form of a convertible bridging loan
which is payable in full between 1 October 2004 and 1 November 2004 subject to
the achievement of certain milestones.  The loan is convertible into AM-Pharma
shares at a 20% discount to the price that shares are issued at in the next
round of financing of AM-Pharma, which is expected to occur during the current
financial year. Prior to that financing round it is anticipated that on
conversion, Theratase's interest in AM-Pharma will increase from 9% to
approximately 14%.



AM-Pharma is still at a pre-revenue generating stage.  As at 30 September 2003,
the company had net assets of Euro3,209,608 (approx. #2.2m).





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For further information, please contact:


Theratase

John Chesham, Chief Executive           Tel:  +44 (0) 1495 790 678

Jo Rooke, Company Secretary             Tel:  +44 (0) 20 7863 8819
Buchanan Communications
James Strong                            Tel:  +44 (0) 20 7466 5000




NOTES TO EDITORS



Theratase:  a specialist in the development, manufacture and marketing of
enzymes and biochemicals to the diagnostic and pharmaceutical industries.
Floated in 1993, its core business, Biozyme Laboratories Ltd., was set up in
1971 and has over 30 years' experience in the field of enzyme production.



AM-Pharma Holding BV: was founded in July 2000 by, amongst others, ABN AMRO and
Free University of Amsterdam. It is developing a new generation of therapeutics
for the treatment of life threatening infectious diseases, including those that
have become resistant to existing antibiotic treatments in addition to
developing a new class of in vivo diagnostics.



AMP is focusing its development on its proprietary human antimicrobial peptides.
These compounds are considered to be safer and easier to manufacture than those
from competitors in this field who are either developing peptides from animal
origin or larger modified human peptides. The efficacy of AMP's lead compounds
has been established both in vitro and in vivo and have shown potent
antimicrobial properties with a broad spectrum of activity against bacteria,
fungi and viruses, including multi resistant strains, so called "Super-bugs".



Web address: www.am-pharma.com






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