CAMBRIDGE, U.K., April 2, 2002 (PRIMEZONE) -- CeNeS Pharmaceuticals plc (LSE:CEN) announced today that it had agreed with the administrators of Bioglan Pharma plc (LSE:BGP), the termination of their existing drug delivery and product development and license agreements. All rights under these agreements are thereby returned to the original owners. Andersen, the administrators of Bioglan, have also agreed to discuss the orderly disposal of Bioglan's 8.9 million CeNeS shares with CeNeS and its brokers.
Neil Clark, Chief Operating Officer of CeNeS Pharmaceuticals plc, said: "Given Bioglan's situation we believe this settlement is in the best interests of our shareholders."
CeNeS is a biopharmaceutical company specializing in the development and commercialization of drugs for CNS disorders and pain control.
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