Napo Pharmaceuticals
Crofelemer
A proprietary gastro-intestinal compound in clinical development for four distinct product indications
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Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons
South San Francisco, California, November 19, 2007 - The Company provides below details of changes in the interests of Directors, Persons Discharging Managerial Responsibility or Connected Persons in the Ordinary Shares of Napo Pharmaceuticals, Inc.
On November 14, 2007, the following persons were granted options over an aggregate of 2,729,000 Ordinary Shares in the Company in the Napo Pharmaceuticals, Inc. 2006 Equity Incentive Plan
| Name | Role | Number of Shares under Option | Exercise Price (Pence) | Vesting |
| Lisa A. Conte | Chief Executive Officer | 757,000 | 68 pence | 36 months from date of grant |
| Pravin Chaturvedi, Ph.D. | President and Chief Scientific Officer | 400,000 | 68 pence | 36 months from date of grant |
| Steven R. King, Ph.D. | Vice-President | 235,000 | 68 pence | 36 months from date of grant |
| Charles Thompson | Vice-President and Chief Financial Officer | 137,000 | 68 pence | 36 months from date of grant |
| Sir William Young | Non-Executive Director | 300,000 | 68 pence | 75,000 immediate vesting, 225,000 24 months from date of grant
|
| Jack Van Hulst | Non-Executive Director | 300,000 | 68 pence | 75,000 immediate vesting, 225,000 24 months from date of grant
|
| Dr. Gregory Stock | Non-Executive Director | 300,000 | 68 pence | 75,000 immediate vesting, 225,000 24 months from date of grant
|
| Thomas Van Dyck | Non-Executive Director | 300,000 | 68 pence | 75,000 immediate vesting, 225,000 24 months from date of grant
|
In addition, the following persons were granted, outside of the company's equity incentive plans, and aggregate of 1,050,000 restricted stock awards which expire at the end of 24 months from the date of grant if the vesting conditions are met. The awards are conditional upon certain criteria being met including at 250 per cent. increase in value of Napo Commom Stock from its price at the time of the grants (68 pence). The grants were made on November 14, 2007.
| Name | Role | Number of Restricted Shares | Grant Price (Pence) | Vesting |
| Lisa A. Conte | Chief Executive Officer | 300,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Pravin Chaturvedi, Ph.D. | President and Chief Scientific Officer | 100,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Steven R. King, Ph.D. | Vice-President | 100,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Charles Thompson | Vice-President and Chief Financial Officer | 100,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| M. Scott Harris, M.D. | Vice-President and Chief Medical Officer | 25,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Merfyn Williams, Ph.D. | Vice-President Regulatory | 25,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Sir William Young | Non-Executive Director | 100,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Jack Van Hulst | Non-Executive Director | 100,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Dr. Gregory Stock | Non-Executive Director | 100,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
| Thomas Van Dyck | Non-Executive Director | 100,000 | 68 pence | Within 24 months from date of grant subject to terms of restricted stock grant |
This notification relates to a transaction notified in accordance with Disclosure Rule 3.1.4R
For more information please contact:
Napo Pharmaceuticals, Inc.
Lisa Conte, Chief Executive Officer
+1 (650) 616-1902
Charles Thompson, Chief Financial Officer
+1 (650) 616-1903
Buchanan Communications
+ 44 (0)20 7466 5000
Tim Anderson, Mary-Jane Johnson
Nomura Code Securities Limited
+44 (0)20 7776 1204
Juliet Thompson
About Napo
Napo Pharmaceuticals Inc., focuses on the development and commercialization of proprietary pharmaceuticals for the global marketplace in collaboration with local partners. Napo was founded in November 2001, and is based in California, USA with a subsidiary in Mumbai, India.
Napo's late-stage proprietary gastro-intestinal compound, crofelemer, is in various stages of clinical development for four distinct product indications, including a late-stage Phase 3 program:
- CRO-HIV for AIDS diarrhea, Phase 3
- CRO-IBS for diarrhea irritable bowel syndrome (D-IBS), Phase 2
- CRO-ID for acute infectious diarrhea (including cholera), Phase 2
- CRO-PED for pediatric diarrhea, Phase 1
The FDA has granted fast-track status to CRO-IBS and CRO-HIV. Crofelemer, a proprietary patented agent, is extracted from Croton lechleri, a medicinal plant which can be sustainably harvested from several countries in South America. Napo also plans to develop an early clinical stage product, NP-500, for the treatment of insulin resistant diseases of Type II diabetes and metabolic syndrome (Syndrome X; pre-diabetic syndrome). Napo also has a plant library of approximately 2,300 medicinal plants from tropical regions and Napo has entered its first screening relationship associated with this collection. Currently, products are based on the chemical and biological diversity derived from plants with medicinal properties, but future products may be in-licensed from other sources. Napo has partnerships with Trine Pharmaceuticals, Inc. of the United States of America; Glenmark Pharmaceuticals Limited of India; and AsiaPharm Group Ltd. of China. For more information please visit www.napopharma.com.