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Piramed Pharma wins Innovation in Drug Discovery & Development Award

Slough, UK - July 9th, 2007 - Piramed Pharma has won the coveted Innovation in Drug Discovery & Development Award at this year's UKTI Bioentrepreneurial Company of the Year Awards, held on the 4th July at Lancaster House, London.

Over 180 industry professionals witnessed Piramed's Chief Scientific Officer and R&D Director, Dr David Knowles, beat stiff competition in the second UKTI Bioentrepreneurial Company of the Year Awards, designed to recognize innovation and entrepreneurship in the UK Biotechnology industry.

Piramed Pharma is developing new classes of small molecule anti-tumour agents, termed signal transduction inhibitors (STI), to target critical intracellular proteins that function as key regulators of aspects of cancer including proliferation, invasion, angiogenesis and metastasis. In 2005, Piramed entered into an R&D collaboration with leading biotechnology company, Genentech, regarding a new class of cancer drugs. Separately the Company is developing novel small molecule inhibitors for immune-inflammatory diseases.

Commenting on the success, Dr Michael Moore, CEO of Piramed Pharma, said: 'We are delighted at winning the Innovation in Drug Discovery and Development Award, and are thrilled at the recognition this provides for our work at Piramed, where we strive to develop targeted new medicines for diseases of major significance.'

David Parry, CEO at the South East Health Technologies Alliance (SEHTA), who nominated Piramed Pharma for the award, said: 'Piramed Pharma is recognised as one of the most innovative and entrepreneurial companies in the South East. We felt that it was well deserving of this award in light of its novel development programme targeting signaling pathways common to several important human diseases. Piramed is an excellent example of a dynamic UK life science company.'

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About Piramed Pharma

Based in Slough, UK, Piramed is a young pharmaceutical company, dedicated to the development of new treatments for cancer and immune inflammatory diseases. Piramed discovers and develops inhibitors of the phosphatidinylinositol 3-kinase (PI 3-kinase) superfamily for cancer and non-cancer indications such as immune-inflammation. PI 3-kinase is a signalling enzyme that has key roles in cell cycle regulation, proliferation, survival, apoptosis and motility.

Founded by Professor Michael Waterfield FRS, Professor Peter Parker FRS and Professor Paul Workman in 2003, Piramed received Series A funding and convertible loan notes of 12 million (~$21 million) from JPMorgan Partners and Merlin Biosciences in July 2003 and August 2005. Through separate agreements, Piramed has exclusive and non-exclusive licences to certain novel chemical entities which arose from a tri-partite collaboration between three major cancer research institutes with UK operations (the Ludwig Institute for Cancer Research, Cancer Research UK and the Institute of Cancer Research) and Yamanouchi Pharmaceutical Company (now Astellas Pharma Inc.). Piramed also has an exclusive licence for screening PI 3-kinase from the Ludwig Institute for Cancer Research and a research collaboration agreement with the CR UK Centre for Cancer Therapeutics at the Institute of Cancer Research. Piramed entered into a collaboration agreement with Genentech in November 2005.

For more information about Piramed, visit the website at

About the UKTI Bioentrepreneurial Company of the Year Award

Now in its second year, the Government endorsed Awards competition showcases UK biotechnology and recognises innovation and entrepreneurship in the biotechnology industry.

This year focused on regional strengths in bioscience through two Awards:

The UK Innovation in Drug Discovery and Development Award recognises the contribution a company makes to the UK's dominant position in the development of innovative new medicines

The UK Innovation in Enabling Biotechnology Award recognises the role rese

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