PRESS RELEASE: CeNeS Licenses New Intravenous Anaesthetic to Ono in Japan

CAMBRIDGE, England, 6 August 2007 - CeNeS Pharmaceuticals plc, the Cambridge based biopharmaceutical company announced today that Ono Pharmaceutical Co., Ltd. (Osaka, Japan, CEO: Toshiharu Korekane) has obtained from CeNeS the exclusive rights in Japan to develop and commercialize CNS-7056 developed by CeNeS as a general anaesthetic and short-acting sedative.  Under this agreement, Ono will pay to CeNeS upfront and milestone payments based on development stage as well as royalties on sales of CNS-7056.
 
CNS-7056 is a new short-acting general anaesthetic and sedative that acts on GABAA receptors.  Pre-clinical studies demonstrate that, after intravenous administration, the compound rapidly induces deep sedation which is maintained during continuous administration.  Importantly the sedative effects rapidly disappear after cessation of administration. The rapid offset of effect of the compound is due to its metabolism by esterase enzymes that are widely distributed throughout the body.  Therefore it is anticipated that CNS-7056 can be clinically developed as a sedative agent for the induction and maintenance of anaesthesia and as a sedative for mechanical ventilation in the Intensive Care Unit (ICU).
 
CeNeS plans to start a Phase I study in the USA in the first half of 2008 and Ono plans to start a Phase I study in Japan as early as the second half of 2008.
 
Shozo Matsuoka, PhD, Senior Executive Director, Development Headquarters and Member of the Board at Ono said:
 
"This agreement with CeNeS is in line with the action plan of our Strategic Alliance Headquarters established this March.  Although CNS-7056 is currently a preclinical compound, we believe that it has excellent potential to become an improved anaesthetic due to its controllability and safety profile. We have also been impressed by the CeNeS team and look forward to working with them on this programme."  
 
Neil Clark, Chief Executive at CeNeS said:
 
"We are delighted to be partnering with Ono, which has an exceptional record for discovering and developing innovative medicines to fight against human disease and pain. CeNeS looks forward to working with Ono to bring the benefits of CNS-7056 to patients and medical staff. With this deal, CeNeS has demonstrated its ability to deliver on its strategy to secure out-licensing deals with excellent partners".

About the GABAA receptor
GABA (gamma-aminobutyric acid) is the major inhibitory transmitter in the brain. The effects of GABA are mainly mediated via interaction with the GABAA receptor, a ligand-gated ion channel. CNS-7056, a benzodiazepine, is a positive allosteric modulator that enhances the effects of GABA at the GABAA receptor, hence inducing sedation.
 
About CeNeS Pharmaceuticals
CeNeS is a biopharmaceutical company specialising in the development and commercialisation of drugs for pain control, sedation and other CNS disorders such as Parkinson's disease. The company is based in Cambridge, England. For further information visit the CeNeS web site: www.cenes.com
 
About Ono Pharmaceutical
Ono Pharmaceutical Co., Ltd. is an R&D-oriented pharmaceutical company specialized in creating innovative medicines in specific areas and is headquartered in Osaka, Japan.  For further information, visit the company web site at www.ono.co.jp