Trading Update

Fulcrum Pharma PLC
14 September 2005


For immediate release                                          14 September 2005


                               Fulcrum Pharma plc
                           ('Fulcrum' or 'the Group')

                                 Trading Update

Fulcrum Pharma PLC (AIM: FUL), the independent drug development company that
offers virtual drug development and strategic outsourcing services to the
pharmaceutical and biotechnology industries, is pleased to announce the
following update on trading in advance of announcing its preliminary results for
the year ended 31 August 2005.

In the Group's interim results issued in May this year Fulcrum indicated that
there were signs of recovery within its business. The Group is pleased to note
that this recovery has continued.

Fulcrum also announced progress in its strategy to improve performance and
operational efficiencies.  The Group is pleased to report that overall
performance has improved and, together with a general recovery in the
marketplace, the Board is confident that Fulcrum's operations will have been
profitable in the second half of the year yet the Board expects the Group to
make a small loss, compared to the full year last year, after exceptional items.

Fulcrum has a strong pipeline of projects and the Group's order book is
progressing in line with that reported at the time of the interim results.  In
order to deepen its expertise in key drug development areas and grow the
business to the next stage, the Board will place a greater emphasis on seeking
suitable opportunities to increase scale.

The Group also today announces the resignation of Dr Bruce McCreedy, the CEO of
Fulcrum's US business, to pursue other business opportunities.

The Board expects to announce the Group's preliminary results for the year ended
31 August 2005 in the week commencing 7th November 2005.

Commenting on trading, Chief Executive Officer of Fulcrum, Dr Jon Court, said: 
'I am pleased to report that our strategy for improved performance has started
to deliver results.  I am delighted that, as a result of strategic management
decisions, we can now return the Group to profitability.  With our strong
reputation we are now keen to grow the business and expand our expertise in the
drug development and outsourcing arena. Finally I would like to thank Bruce
McCreedy for his contribution to the establishment of the Group's US business
and we wish him well in his future endeavours.'

For further information, please contact:

Fulcrum Pharma PLC                                            Tel: [phone]
Jon Court, Chief Executive Officer
Geoffrey Smith, Finance Director

Buchanan Communications                                       Tel: [phone]
Mark Court / Mary-Jane Johnson

About Fulcrum Pharma

Fulcrum Pharma plc is an independent, drug development company that is the first
to offer global virtual drug development and strategic outsourcing services to
the pharmaceutical industry.  The Group has expertise in the design, execution
and delivery of drug development programmes and relies on state of the art
information technology and infrastructure in the supply of its services.

Through Fulcrum's services to its clients, the Directors believe that there is
the capacity to deliver products faster and more efficiently to the global
pharmaceutical market. Fulcrum does this by using its skills in the design of
drug programmes that deliver the necessary information for decision-making and
product registration. In so doing, Fulcrum works closely with its clients to
meet their strategic R&D goals.

Fulcrum Pharma is listed on the Alternative Investment Market of the London
Stock Exchange having successfully floated in March 2000.

                      This information is provided by RNS
            The company news service from the London Stock Exchange