SOURCE: Pink Sheets LLC

April 16, 2008 09:00 ET

Phynova Group plc Joins International OTCQX

NEW YORK, NY--(Marketwire - April 16, 2008) - Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, today announced that Phynova Group plc (PINKSHEETS: PHNVY) (OTCQX: PHNVY), a pharmaceutical company engaged in developing drug candidates to satisfy unmet needs in therapeutics markets, such as infectious diseases, metabolic diseases and Cancer, has chosen to list its American Depositary Receipts (ADR) on International OTCQX.

Beginning today, Phynova's ADRs will trade on the OTC market's prestigious tier, International PrimeQX, where investors can find current disclosure and financial information on the company (available on www.otcqx.com and www.pinksheets.com).

"We are pleased to welcome Phynova to International OTCQX," said R. Cromwell Coulson, Chairman and CEO of Pink OTC Markets. "As an International OTCQX-listed company, Phynova distinguishes itself as one of the most prestigious companies trading over-the-counter, and becomes part of a visible market tier via which they can increase U.S. investor awareness."

Bank of New York Mellon will serve as Phynova's Principal American Liaison ("PAL") on International OTCQX. Phynova's ADRs will trade in the U.S. on International OTCQX under the ticker "PHNVY" where each ADR will represent ten ordinary shares.

Phynova's shares are also listed on London Stock Exchange's Alternative Investment Market (AIM). The company is headquartered in Oxford, United Kingdom.

About Phynova Group plc

Phynova Group plc was founded in July of 2002 to develop drugs that satisfy unmet therapeutic needs in areas such as: infectious disease, metabolic disease and cancer. Phynova is developing Drug Candidates which are mainly derived from botanical medicines and have proved effective and safe in clinical use in China. In a number of areas these medicines are used in China in circumstances where there is an unmet therapeutic need in the West. Since all of Phynova's Drug Candidates are derived from plants, its drugs will be produced from sustainable resources. Phynova has developed relationships with researchers and government agencies in China and built its own expertise in Chinese medicinal plants and Western drug development. Through its contacts with researchers in China, Phynova has obtained access to Chinese research data and it has licensed-in Drug Candidates for development and sale in Western markets.

About International OTCQX

International OTCQX provides a gateway to U.S. securities markets for international companies that are listed on a qualified international exchange and provide ongoing disclosure in English to U.S. investors. More importantly, International OTCQX distinguishes the reputable international issuers from the 8,000 over-the-counter (OTC) securities traded in the U.S. Only leading companies that have substantial operating businesses and provide credible disclosure to the public are eligible for inclusion on the premium-tier International OTCQX, which commenced trading on March 5, 2007. For more about International OTCQX, visit www.otcqx.com.

About Pink OTC Markets Inc.

Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. We create innovative technology and data solutions to efficiently connect market participants, improve price discovery, increase issuer disclosure, and better inform investors. Pink OTC Markets operates the third largest U.S. equity trading venue which includes both the elite OTCQX market tiers for strong OTC-traded companies that can satisfy financial and disclosure listing standards and Pink Sheets for all other OTC quoted securities.

Over 230 financial service firms, including the ten largest U.S. investment banks, actively make markets in OTCQX and Pink Sheets quoted securities and in 2007 these firms traded over $160 billion of OTCQX and Pink Sheets securities. Pink OTC Markets offers widespread access to all U.S. broker-dealers, enabling investors to seamlessly trade these securities through their institutional, online, or full service brokers.

Pink OTC Markets is headquartered in New York City.

To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.pinksheets.com and www.otcqx.com or contact us at info@pinkotc.com.

Contact Information

  • Media Contact:
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    CCG Investor Relations
    +1 (646) 454-4519
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