RNS Number:8937N
Profile Therapeutics PLC
24 July 2003


For Immediate Release                                       07:00, 24 July 2003



                              Profile Therapeutics plc
  Trading Update for Year ended 30 June 2003 - Sales increased to over #13.5m
                                  (Unaudited)

Profile Therapeutics plc ("Profile"), which develops and commercialises
specialist inhaled therapies, is pleased to announce the following key
highlights for the year ended 30 June 2003:

*         Group revenues are likely to be above #13.5m, with losses anticipated
          to be marginally better than brokers' forecasts.
*         Cash balances at 30 June 2003 were, above market expectations at #5m.
          No drawdown has yet been made on Profile's revolving credit facility.
*         PromixinTM, Profile's inhaled antibiotic for cystic fibrosis, is
          progressing through the hospital formulary approval process.  The 
          submission for European licences has been made, with grant anticipated 
          in H1 2004.
*         A significant step forward to address the US market has been made
          through the formation of a Joint Venture with Breath Ltd.; stability 
          data is now available on the first two medicines in preparation for 
          regulatory submission.
*         Development of miniature handheld Prodose inhaler continues to
          progress and Profile expects to commit to tooling in September.

Profile is in a transitional phase of its development, which is both exciting
and challenging.   The excitement lies in the development of the miniature
handheld Prodose inhaler and the Joint Venture with Breath Ltd. announced
earlier this month, which gives Profile access to the US market in 2005.  The
challenge in 2003/2004 lies in pursuing key agreements to maximise revenues from
Promixin in Europe, and the necessary partners for the Joint Venture in the US.

Profile will be announcing its Preliminary Results on Thursday 11 September
2003.  An analyst meeting will be held at Buchanan Communications, 107
Cheapside, London EC2V 6DN at 09.30am.

                               -          ENDS -

For further information, please contact:

Profile Therapeutics
John Lisle, Chief Executive Officer                      Tel: 0870 770 2116

Buchanan Communications
Tim Anderson / Isabel Petre / James Strong               Tel: 020 7466 5000

Notes to Editors:

Profile Therapeutics plc develops and commercialises specialist inhaled
therapies to improve the treatment of respiratory patients.  Its first drug
PromixinTM, an inhaled antibiotic for the treatment of cystic fibrosis, was
launched in the UK in March 2003.

Profile's core patient groups are the young, the elderly and individuals with
severe respiratory impairment.  The diseases targeted by Profile include: cystic
fibrosis, severe asthma, emphysema, chronic bronchitis and other conditions
classified as Chronic Obstructive Pulmonary Disease ("COPD").

These patients typically use nebulisers to deliver their drugs as they are not
best served by the mass market Metered Dose Inhalers (MDIs) and Dry Powder
Inhalers (DPIs). Profile has developed proprietary innovative delivery systems
using its "intelligent inhaler" technology known as Adaptive Aerosol Delivery
technology or AAD.  These systems automatically respond to individual patients'
breathing patterns to deliver a precise dose and have been shown under long-term
clinical trials to significantly enhance patient compliance to therapy.


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