Re: Development Agreement

Fulcrum Pharma PLC
10 June 2002


For Immediate Release:                               07.00, Monday 10 June 2002


                        FULCRUM PHARMA DEVELOPMENTS LTD

                      INITIATES DEVELOPMENT AGREEMENT WITH
                       THE MEDICINES FOR MALARIA VENTURE

Hemel Hempstead, UK - Fulcrum Pharma plc (LSE: FUL), the independent drug
development company, announced today that it has signed a contract with The
Medicines for Malaria Venture (MMV) to provide its unique customized, strategic
drug development management services to progress a new class of anti-malarial
drugs.  MMV is a public-private partnership for the discovery and development of
new anti-malarial drugs.  The Swiss based Foundation is supported by such high
profile names as the Bill and Melinda Gates Foundation, ExxonMobil Corporation,
the International Pharmaceutical Manufacturers Associations, the Rockefeller
Foundation, and the World Health Organization.

Fulcrum has been contracted by MMV to work on a novel class of antimalarials and
will be responsible for working with MMV's international team to provide project
leadership and problem solving skills to progress the lead molecules through the
development process.

Dr Jon Court, Fulcrum's Chief Executive Officer, welcomed this new contract
saying:

'Fulcrum is delighted to be working with the Medicines for Malaria Venture and
assist it in its quest to make available new and affordable medicines to treat
malaria. MMV is a recently formed, internationally funded, Public Private
Partnership. Our first contract with MMV will focus on a novel class of
antimalarials and their progression into formal drug development.  The new
compounds have arisen from groundbreaking work on synthetic peroxides performed
by an international team of researchers. This team was recently recognised for
this breakthrough as the 'MMV partnership achieving the most promising research
results in 2001'. The Project Team will consist of scientists and researchers
from the University of Nebraska Medical Center, U.S.A.; Monash University,
Australia; the Swiss Tropical Institut, F. Hoffmann-La Roche, Switzerland MMV
and Fulcrum.'

Dr Chris Hentschel, MMV's Chief Executive Officer also welcomed this
development, saying:

'Medicines for Malaria and Fulcrum are natural partners in many respects. We
have focused on different but highly complimentary aspects of the virtual drug
discovery and development value-chain and now look forward to applying this
joint knowledge-base to this initial very exciting programme.'

For further information, please contact :

Fulcrum Pharma plc

Jon Court, Chief Executive                                         0870 710 7152
Neil Oughton, Company Secretary                                    0870 710 7155
www.fulcrumpharma.com

Buchanan Communication
Nicola How / Louise Bolton                                         0207 466 5000

Medicines for Malaria Venture                                    [phone]
Souzie Zador
www.mmv.org

Notes to Editors:

Fulcrum Pharma plc is an independent, strategic, drug development services
company that aims to be the pharmaceutical industry's first choice for optimal
management of drug development.

Fulcrum offers a unique strategic drug development service to the pharmaceutical
and biotechnology industries. The company provides customized development
programmes that lead to early Proof of Concept, efficient registration and ideal
positioning for rapid availability to patients. Fulcrum's service is
professional and cost-effective.

Fulcrum's experienced senior managers personally oversee drug development
projects via an advanced management process, combining exceptional project
leadership and problem solving skills with an external team of specifically
selected suppliers and independent experts to meet the needs of our clients.

Fulcrum Pharma is listed on the Alternative Investment Market of the London
Stock Exchange.

The Medicines for Malaria Venture: Established as a Foundation in Switzerland,
MMV was officially launched on November 3, 1999 as a public-private partnership
for the discovery and development of new anti-malarial drugs. MMV's vision is a
world in which affordable drugs will help eliminate the devastating effects of
malaria and help protect the children, pregnant women, and vulnerable workers of
developing countries from this terrible disease. It is supported by the Bill and
Melinda Gates Foundation, ExxonMobil Corporation, the Global Forum for Health
Research, the International Pharmaceutical Manufacturers Associations, the
Netherlands Ministry for Development Cooperation, the Rockefeller Foundation,
the Swiss Agency for Development and Cooperation, the United Kingdom Department
for International Development, the World bank, the World Health Organization,
Roll Back Malaria, and the UNDP/World Bank/WHO Special Programme for Research
and Traning in Tropical Diseases (TDR).



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