Press Release Source: SkyePharma PLC

SkyePharma PLC Preliminary Results Announcement for the Year Ended 31st December 2002 Wednesday April 2, 7:31 am ET

LONDON, April 2 /PRNewswire-FirstCall/ -- SkyePharma PLC (Nasdaq: SKYE - News; LSE: SKP - News) today announced the Company's financial and operating results for the year ended December 31, 2002. ......Our 2001 strategic collaboration with Astralis Ltd (Astralis) covers the development of Psoraxine(TM), a unique injectable treatment for psoriasis, a chronic skin disorder that affects approximately 3% of the world population. There is no approved cure for psoriasis and most approved treatments provide only temporary or incomplete relief and may also cause serious side effects. Psoraxine(TM) is a protein that stimulates cells from the patient's immune system to reverse the inflammatory process responsible for psoriasis symptoms. Astralis has completed clinical studies in Venezuela using first generation Psoraxine(TM) to treat nearly 3,000 psoriasis patients, the vast majority of whom responded positively with few side effects. We are working with Astralis to develop a second-generation product, now being produced in the USA, and to validate the promising results from Venezuela in US clinical studies that will be used for regulatory and marketing approval. Following the recent completion of toxicological studies, Astralis expects authorisation to commence US clinical trials later this year.