Press Releases

Dated: Monday 27 July 2009

After trading of its shares was suspended on Friday 24 July 2009, Cambridge-based Alizyme plc has been placed in administration.

Ian Carr and Nigel Morrison, partners at Grant Thornton UK LLP, were appointed as joint administrators for Alizyme plc and its wholly owned subsidiary Alizyme Therapeutics Limited.

Ian Carr explained: “Alizyme has entered administration because it no longer believes it will be able to conclude successfully the discussions with its commercial partners to mitigate potential increased funding obligations under licensing and development agreements with regard to COLAL-PRED®. Therefore it is believed it is not possible to refinance the company within a timeframe during which it would have sufficient reserves to continue trading.''

“As administrator I am bound to put the needs of creditors first and we will review the business, its products and the opportunities ahead as a matter of urgency. Alizyme owns valuable intellectual property so I am hopeful that we will find a suitable buyer(s) for the business and /or its assets.''

“I would encourage anyone who wishes to express an interest in the business to contact me.”

Alizyme is a biopharmaceutical development company. It focuses on the therapeutic areas of metabolic disorders, gastrointestinal disorders and cancer supportive care. It is developing products for the treatment and management of obesity and related conditions, such as type 2 diabetes, of gastrointestinal disorders involving inflammation, such as ulcerative colitis, and of the gastrointestinal side effects of cancer therapy, such as mucositis.

The business was formed in 1995 and floated on the Alternative Investment Market (AIM) in 1996 before being listed on the Official List of the London Stock Exchange in 2000.


For more information contact Cathy Connan on 07976 669089 or email cathy@cathyconnan.com.

Grant Thornton UK LLP is a leading financial and business adviser with 30 locations nationwide. We are the UK member of Grant Thornton International, one of the world's leading international organisations of independently owned and managed accounting and consulting firms. Although Grant Thornton International is not a worldwide partnership, the firms share a commitment to providing the same high quality service to their clients wherever they do business.

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