SOURCE: Protherics PLC

August 13, 2008 13:31 ET

Protherics - Stmnt re Share Price Movement

Cheshire, UK--(Marketwire - August 13, 2008) -




Protherics PLC


Re share price rise


London, UK; Brentwood, TN, US; 13 August 2008 - Protherics PLC ("Protherics" or the "Company"), the international biopharmaceutical company focused on critical care and cancer, notes today's rise in the Company's share price and confirms it has received approaches from a number of parties interested in acquiring Protherics, which the board is considering. However, there can be no certainty that any formal offer will be made, nor as to the terms on which any offer might be made.


A further announcement will be made in due course.


In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"), Protherics confirms that at the close of business on 12 August 2008, it has 342,159,034 ordinary shares of 2 pence each in issue and admitted to trading on the London Stock Exchange under the UK ISIN code GB00070290.


ENDS


For further information please contact:


Protherics
+44 (0)20 7246  9950
Andrew Heath, CEO
Rolf Soderstrom, Finance Director
Nick Staples, Director of Corporate Affairs

Jefferies International Ltd.
Ian Crosbie
+44 (0)20 7029 8000

Nomura Code Securities Ltd.
Chris Collins
+44 (0) 207 776 1200

Financial Dynamics - press enquiries
Ben Atwell
+44 (0) 20 7831 3113

Or visit www.Protherics.com


Dealing Disclosure Requirements


Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Protherics, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Protherics, they will be deemed to be a single person for the purpose of Rule 8.3.


Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Protherics by a potential offeror, or by Protherics, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.


A disclosure table, giving details of the companies in whose "relevant securities""dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk."Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.


The Directors of Protherics accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of Protherics, who have taken all reasonable care to ensure that this is the case, this information is in accordance with the facts and does not omit anything likely to affect its import. This announcement does not constitute an offer or invitation to purchase or subscribe for any securities of the Company.


Jefferies International Limited, which is authorised and regulated in the UK by The Financial Services Authority, is acting exclusively for Protherics and no one else in connection with the matters referred to in this announcement and, accordingly, will not be responsible to anyone other than Protherics for providing the protections afforded to customers of Jefferies International Limited or for providing advice in relation to the matters referred to in this announcement.



Notes for Editors:


About Protherics


Protherics (LSE: PTI, NASDAQ: PTIL) is a leading internationalbiopharmaceutical company focused on specialist products for critical care and cancer.


Protherics has produced two FDA approved biologics for critical care use which are currently sold in the US: CroFabTM, a North American pit viper antivenom and DigiFabTM, a digoxin antidote. Protherics reported revenues of GBP26.1 million for its year ended 31 March 2008 and a strong cash balance of GBP37.7 million. The Company's strategy is to use the revenues generated from its marketed and out-licensed products to help fund the advancement of its broad, late stage pipeline.


Protherics has two major development opportunities in its portfolio. CytoFabTM is being developed by AstraZeneca, for the treatment of severe sepsis, following a major licensing deal announced in December 2005. AstraZeneca is conducting an additional phase 2 programme following changes to the commercial manufacturing process. A new formulation of Angiotensin Therapeutic Vaccine, for the treatment of hypertension, has today commenced a phase 2a study. Protherics also has four novel products being developed in a range of cancer indications where it intends to undertake the sales and marketing in the US and/or the EU.


With headquarters in London, the Company has approximately 300 employees across its operations in the UK, US and Australia.


For further information visit: www.Protherics.com


Disclaimer


This document contains forward-looking statements that involve risks and uncertainties including with respect to products under development and the progress and completion of clinical trials. Although we believe that the expectations reflected in such forward-looking statements are reasonable at this time, we can give no assurance that such expectations will prove to be correct. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements due to manyimportant factors discussed in Protherics' Annual Report on Form 20-F and other reports filed from time to time with the U.S. Securities and Exchange Commission. We do not undertake to update any oral or written forward-looking statements that may be made by, or on behalf of, Protherics.


This information is provided by RNS The company news service from the London Stock Exchange

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