SR Pharma plc announces the successful completion of Toxicology Studies for its
systemically delivered RNAi product candidate Atu027

London, UK, November 13th 2006 SR Pharma plc (London LSE: SPA) announces the
successful completion of initial toxicology studies for its RNAi product
candidate Atu027. These studies were conducted in Basel, Switzerlandby RCC, an
independent contract research organisation.

The results confirmed that there was no local problem at the site of infusion
with this systemically administered product. Atu027 is a reconstituted
lyophilised material that was tested in repeated 4-hour and 24-hour continuous
intravenous infusions. The drug candidate was given every third day over a
period of 15 days.

As a consequence, advanced toxicology programs with this lead product candidate
will start at the end of November 2006. The GMP manufacturing process has
already been established and scale-up to provide sufficient material for
further pre-clinical and clinical testing is underway.

Iain Ross, Chairman of SR Pharma, said: "The results of these pilot toxicology
studies are very encouraging and confirm that we are well on track with the
pre-clinical programme for our systemically delivered RNAi product candidate,
Atu027. Human clinical trials with Atu027 in oncology indications are now
expected to commence in mid 2007"