Main Web Site : www.henderson-morley.com

On line shop web site : http://www.herpesexpert.com (Frost and Simpson)

Investor Relations email : investors@henderson-morley.com

Henderson Morley is a drug discovery company

The company has been developed specifically to carry out preliminary sourcing and screening of candidates to combat diseases caused by the herpes family of viruses and certain other DNA viruses

Latest GECR update 15th October 2006

Latest GE&CR update - 15th Oct 2006 :


The news investors have all been waiting for - regarding negotiations with a US dermatological pharmaceutical firm has finally been unveiled. The licence has been granted under an agreement to
Cutanea, a U.S. pharmaceutical company, specialising in the development of dermatology products in the US market.

The licence is for new applications of ICVT for the treatment of dermatological conditions in humans. The agreement and takes the form of an exclusive American, Mexican and Canadian wide licence to bring products to market through a programme of pre-clinical and clinical development of treatments either by Cutanea or through a sub-licence. Under the terms of the Agreement, Henderson Morley will receive up to 6.675 million dollars in development and commercialisation milestone payments up to the point at which the application receives regulatory approval, and will receive royalties on net sales thereafter.

Under its business plan, Henderson Morley has stated its belief that, following clinical development and regulatory licence approval, sales of the product in excess of $1.5 billion could be achieved over the subsequent ten year period. This would give a potential royalty to Henderson Morley in excess of $115 million over this term.

As a drug discovery company, it is imperative that Henderson continues to grant licenses to further develop its technology portfolio. This is the group's third ICVT license agreement. Encouragingly, Cutanea has a great management team with a proven track record of commercialising dermatology products.

Meanwhile, the company has announced that it has been working away on a vaccine against Koi Carp Herpes virus. The group believes it is now ready to start field trials of a
candidate vaccine, in a collaboration with the Internationally renowned Hagerman
Aquaculture Research Institute in Idaho USA. The initial immunogenicity studies should produce results within 6 months, enabling Henderson Morley scientists to optimise the vaccine formulation, with a view to securing a product licence from the veterinary authorities as soon as practicable.

Clearly activity at Henderson Morley has been significant in recent weeks. The licensing announcement is very encouraging, but with the news now out of the way, the shares have eased - a classic case of buy on the rumour, sell on the news. That said, the stock has now pulled back below the recent placing price. With so much going on at the company, further newsflow in the shorter term is far from unlikely.

*Henderson Morley is a corporate client of Bishopsgate Communications which is owned by RSH, the ultimate owner of GE&CR.

Forecasts and a formal recommendation are suspended ahead of the publication of a detailed note next month.

Latest Update from GECR 7th Sept 2005

Henderson Morley, remains in discussions with potential partners over out-licensing its ICVT anti-viral platform. These licenses will bring milestone payments and ultimately, royalties. The company will keep the market posted on developments.

Henderson Morley has a number of advantages over other biotechnology companies. The compounds used in its platform are widely known, studied and used. This should allow for ease of approval once the trial process is complete. The company's potential market is also massive, with treatments currently in the marketplace not showing the efficacy of the Henderson Morley treatment.

Should the company meet its targets for licensing agreements over the coming years then this company is significantly undervalued. There are the normal risks associated with buying shares in the biotech space, but the risks are easily identifiable - with few of them relating to the actual technology itself. Newsflow on licensing agreement is the catalyst that is awaited and we understand that the company is in discussions with a number of parties. The shares have failed to perform since we initiated coverage but the fundamentals are unchanged and we continue to rate the shares as a "speculative buy."

Latest Update from GECR 1st Oct 2005

Henderson Morley is continuing its key discussions with potential partners over the out-licensing its ICVT anti-viral platform. These licenses will bring milestone payments and ultimately, royalties. As with any biotechnology these discussions and negotiations take time. This company's product has a huge potential market and the efficacy of the treatment against the standard viral infections it was developed for is not in doubt. The company just has to strike the right deal at the right price. The company released its annual report this month, which is available ton the company's website

Henderson Morley has a number of advantages over other biotechnology companies. The compounds used in its platform are widely known, studied and used. This should allow for ease of approval once the trial process is complete. The company's potential market is also massive, with treatments currently in the marketplace not showing the efficacy of the Henderson Morley treatment. Should the company meet its targets for licensing agreements over the coming years then this company is significantly undervalued. There are the normal risks associated with buying shares in the biotech space, but the risks are easily identifiable - with few of them relating to the actual technology itself. Newsflow on licensing agreement are the catalysts that are awaited and the company is pursuing every opportunity vigorously.

We continue to value Henderson's portfolio on a heavily risk-weighted basis at 12.8 million pounds, more than six times the current market capitalisation. On that basis our stance remains speculative buy.

Hello, there is quite of lot of buying going on today, must be news coming, something has been leaked IMO !

This level of buying does not happen on HML, so something is happening then.

looks like another of your sad tales here PpP.With a 30% spread you are asking too much for investors to punt

coeliac1 if they are all as sad as BSP today, I do not care.

The strange thing is more buys piling into HML today, I can find no reference to any tips having come up (the last time it got any large buys was the 19th May when GECR started coverage, see post 1)

Will keep looking as have a massive paper profit from BSP today so in a good mood !

Henderson Morley PLC
28 October 2005

FOR IMMEDIATE RELEASE 28 OCTOBER 2005

HENDERSON MORLEY PLC
(AIM)

Business: Drug Discovery Company

Issue of Equity
&
Patent Update

Henderson Morley plc ('the Company') announces that the Board has, today, issued and allotted, conditional upon Admission, a total of 50 million new Ordinary shares through a Placing to an investor at a price of 0.5p per share, raising 250,000 for the Company. The total number of shares in issue is now
383,928,632.

The purpose of this Placing is to provide the Company with working capital to
continue to invest in its research and development and intellectual property.

Application will be made for the new shares to be admitted to AIM and trading in the new shares is expected to commence as soon as practicable.

The Company continues to invest in patents for the further development of its
platform technology, ICVT, and has recently received notification that the
Company has been granted a second EU patent for the ICVT platform.

Several new patent applications have been filed, including patents addressing
specific product formulations, improved and enhanced potency of ICVT and for the use of ICVT in completely different (ie non viral) disease areas addressing
significant unmet medical need.

--ENDS--

Copies of this announcement will be available free of charge to the public at
the Company's registered office at Metropolitan House, 2 Salisbury Road,
Moseley, Birmingham, B13 8JS and at the offices of Brewin Dolphin Securities
Ltd, 34 Lisbon Street, Leeds LS1 4LX for 14 days.
Enquiries:

HENDERSON MORLEY PLC Tel: 0121 442 4600
Andrew Knight, Chairman

BREWIN DOLPHIN SECURITIES LTD Tel: 0113 241 0126
Neil Baldwin

BISHOPSGATE COMMUNICATIONS LTD Tel: 020 7430 1600
Maxine Barnes Mobile: 07860 489571
Dominic Barretto

Notes to Editors

Ionic Contra Viral Therapy
Developed in-house by Henderson Morley, ICVT is an innovative compound for
treating virus infections. It exploits the little known finding, that many of
the biological processes involved with virus DNA synthesis are sensitive to
local potassium ion concentrations.

ICVT uses a proprietary combination of two established drugs currently used in
cardiovascular medicine that have no prior use as anti-virals. The component
drugs used in ICVT cause depletion of intracellular potassium and inhibit the
replication of DNA viruses, while normal host cell metabolism and function is
only minimally affected. By combining two compounds that act on ion transport in different ways, the antiviral effect is enhanced. This combination therefore
offers the prospect of preventing viral replication with little or no adverse
effects.

The anti-viral effects of the two drugs in ICVT are synergistic. The effects of
ICVT on host cell metabolism have been measured in a variety of cell lines and
the rate of cell metabolism is unaffected by prolonged incubation with ICVT.
Pilot human studies have not demonstrated any local or systemic toxicity when
used at anti-virally effective doses.

Additionally, the component drugs used in ICVT have a long history of being
widely co-prescribed in the treatment of cardiovascular disease. As such, ICVT
offers potential in the treatment of a range of viral infections for which
current therapy is inadequate, such as adenovirus.

Further information on Henderson Morley plc can be accessed through the
Company's website at www.henderson-morley.com

This now clears up working cap for an extended period of time and should allow them to get something in place in terms of revenue generation.

HML playing up today, up 28%.

Another false dawn or is some good news finally just around the corner ?

It was a 3.5 million buy at way over the offer that made HML rise today, someone is confident of things to come.

More buys through and moving up again, you have to think something is happening now in the background.

Aim listed drug discovery firm Henderson Morley's recent rude market health continued, up .1p to .9p on heavy trading, after suggestions it was close to securing a licensing deal with a pharma company for one of it's anti-viral drugs.

Todays Daily Express. Market Report. David Shand. City and Business. p70.

Taken from there website;

As a drug discovery company, Henderson Morley does not have the infrastructure to take projects through the clinical trial process without a commercial partner.
Once certain in-house milestones have been achieved (typically in-vitro testing in the Company's own laboratories) partners will be sought to take a commercial licence for the technology.
This will enable Henderson Morley to continue to develop future opportunities whilst using the infrastructure and potential distribution of commercial partners.

Licensing opportunities are available for the following applications of ICVT:

Ocular infections

Dermal Infections

Veterinarian applications

Vaccines

In summary we now have the Express tip

Aim listed drug discovery firm Henderson Morley's recent rude market health continued, up .1p to .9p on heavy trading, after suggestions it was close to securing a licensing deal with a pharma company for one of it's anti-viral drugs.

13th Nov 05 Daily Express. Market Report. David Shand. City and Business. p70.


From their website;

As a drug discovery company, Henderson Morley does not have the infrastructure to take projects through the clinical trial process without a commercial partner.
Once certain in-house milestones have been achieved (typically in-vitro testing in the Company's own laboratories) partners will be sought to take a commercial licence for the technology.
This will enable Henderson Morley to continue to develop future opportunities whilst using the infrastructure and potential distribution of commercial partners.

Licensing opportunities are available for the following applications of ICVT:

Ocular infections

Dermal Infections

Veterinarian applications

Vaccines


And from the recent 28 Oct RNS;

The Company continues to invest in patents for the further development of its platform technology, ICVT, [b]and has recently received notification that the Company has been granted a second EU patent for the ICVT platform.

Several new patent applications have been filed, including patents addressing specific product formulations, improved and enhanced potency of ICVT and for the use of ICVT in completely different (ie non viral) disease areas addressing
significant unmet medical need.

I hope that the rumoured deal is for this significant unmet medical need area, but there is plenty of wood on the fire now, just waiting for the flames to come through the smoke.

Latest update from GECR 11th Dec 05;

Henderson Morley is continuing its key discussions with potential partners over the out-licensing its ICVT anti-viral platform. The company undertook a further fundraising on October 28th, raising 250,000 pounds at 0.5p a share to provide working capital for this purpose. This should be sufficient for some time as the company has a low cash burn of around 40,000 pounds per month. Once licensing deals are struck, these will bring milestone payments and ultimately, royalties. As with any biotechnology these discussions and negotiations take time - but the product is good and it works. The antiviral treatments have great scope for becoming over-the-counter medicines and the company just has to strike the right deal at the right price. We continue to believe that the potential of the Henderson Morley portfolio is not discounted in its share price and that the stock will be re-rated significantly when a licensing deal is announced.

Latest Update from GECR 8th Jan 2006

Henderson Morley is continuing its key discussions with potential partners over the out-licensing its ICVT anti-viral platform and undertook a fundraising in October, raising 250,000 pounds at 0.5p a share to provide working capital for this
purpose. This should be sufficient for some time as the company has a low cash burn of around 40,000 pounds per month. Once licensing deals are struck, these will bring milestone payments and ultimately, royalties.
As with any biotechnology operation these discussions and negotiations take time - but HM's antiviral treatments have great scope for becoming over-the-counter medicines and the company just has to strike the right deal at the right price.
Henderson Morley is in the process of exploiting its new, patented technology that could revolutionise the treatment of some common diseases - and some not so common.
The company is currently focusing on the Human Papilloma Virus (HPV) - a type of virus that is responsible for non-life threatening conditions such as conjunctivitis, skin warts, genital warts and verrucae, but also more serious conditions such as cervical cancer. The platform actually stops viruses from forming within an infected cell be affecting its salt balance. This is a new way of
targeting virus activity and its products will be unique in the market place. The potential revenues generated by its treatment pipeline are enormous and the company is carefully seeking licensing partners to ensure that it could fully exploit this revenue stream.
Management is confident that the right deal can be struck at the right price and are continuing to work towards this goal. The stance remains "speculative buy."

.

Interims out today, there is some juicy news though, this new use sounds good.

Business Review

Research continues in the anti-viral and vaccine pipeline. The technology known
as PREPS and L-particles, which was originally developed by the UK Government's
Medical Research Council Virology unit in Glasgow, is owned by the Company.
Following independent research in the USA, new and potentially valuable
applications of this technology have been discovered in the multi-billion dollar organ transplant rejection market. A new patent has been filed for the new use of PREPS and L-particles as immunomodulators, with potential application as a treatment for diseases of an overactive immune system such as Rheumatoid Arthritis, acute and chronic organ rejection and connective tissue disorders. As a result, the Company has retained a US based biotechnology licensing consultant with a view to exploiting this potential application.

The Company now has 25 granted patents in respect of its ICVT technology
platform with a significant number of other patents filed and under examination
by the patent authorities.

Any ideas on the volume and rise today PP ?

Volume and price has been rising, which could mean some news is coming ! However, with HML never hold your breath while waiting for news !

But, you never know, something is due, some kind of deal.

Latest Update from UK-analyst email GECR 13th Mar 2006

Biotechnology group Henderson Morley is continuing its key discussions with potential partners over the out-licensing its ICVT anti-viral platform following its undertook a 250,00-pound fundraising in October. The company expects to update the market with progress in this area soon. Once licensing deals are struck, these will bring milestone payments and ultimately, royalties.

As with any biotechnology company these discussions and negotiations take time. Henderson Morley is in the process of exploiting its new, patented technology that could revolutionise the treatment of some common diseases - and some not so common.
The company is currently focusing on the Human Papilloma Virus (HPV) - a type of virus that is responsible for non-life threatening conditions such as conjunctivitis, skin warts, genital warts and verrucae, but also more serious conditions such as cervical cancer.

The platform actually stops viruses from forming within an infected cell be affecting its salt balance. This is a new way of targeting virus activity and its products will be unique in the market place. The potential revenues generated by its treatment pipeline are enormous and the company is carefully seeking licensing partners to ensure that it could fully exploit this revenue stream. Management is confident that the right deal can be struck at the right price and are continuing to work towards this goal.

If such a deal will be struck the stock could be re-rated dramatically.

A small tick up on the bid side, 1 v 1 on L2.