AGI AGI

TIDMAGI

RNS Number : 1296L

AGI Therapeutics plc

27 July 2011

AGI Therapeutics, plc

AGI announces divestment of patent portfolio to Warner Chilcott

DUBLIN, Ireland, 27(th) July, 2011 - AGI Therapeutics, plc ("AGI" or the "Company"), a specialty pharmaceutical company, today announced that it has completed the divestment of a portfolio of patents to Warner Chilcott plc for a consideration of approximately $0.3 million. These patents relate to an early-stage product which had been in development for gastrointestinal disorders, but had been discontinued as a result of AGI re-focusing its business to develop specialty drug products for unmet medical needs, including Orphan indications.

Commenting on the divestment, Dr. John Devane, CEO of AGI, said:

"This divestment reflects our ongoing interest in monetizing dormant assets which are no longer core to our business, and thus provide additional resources to invest in high-value specialty product opportunities such as AGI-350."

Contact Information:

 
 AGI Therapeutics plc.                  Tel: +353 1 449 3254 
 David Kelly, Chief Financial Officer 
 
 Davy                                   Tel: +353 1 614 8761 
  John Frain 
 

For further information: www.agitherapeutics.com

Notes to Editors:

About AGI Therapeutics plc

AGI is a specialty pharmaceutical company which is focused on the development and commercialisation of differentiated specialty drug products to treat unmet medical needs, including treatments for conditions which qualify for Orphan drug status.

The Company's lead programme, AGI-350, is being developed to treat a significant unmet medical need in the critical care setting, in particular for patients who require ventilation support.

AGI's common shares are listed on the Alternative Investment Market of the London Stock Exchange (AIM) and on the Enterprise Securities Market (ESM) of the Irish Stock Exchange as AGI.

For further information please see www.agitherapeutics.com

This information is provided by RNS

The company news service from the London Stock Exchange

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