NIM Norwood Imm.

RNS Number:2093K
Norwood Immunology Ld
10 October 2006


FOR IMMEDIATE RELEASE                                            10 OCTOBER 2006



                           NORWOOD IMMUNOLOGY LIMITED
                    ('Norwood Immunology' or 'the Company')

  NORWOOD IMMUNOLOGY LIMITED ANNOUNCES THAT IT WILL NOT EXERCISE ITS OPTION TO
               ACQUIRE VIROSOME BIOLOGICALS ON THE CURRENT TERMS

Norwood Immunology Limited ('the Company' or 'NIM') (AIM: NIM), the company
focussed on the rejuvenation of the immune system, announces that it will allow
the Option that it acquired in relation to the acquisition of the entire  share
capital of Netherlands-based Bestewil Holdings B.V., (the holding company of
Virosome Biologicals B.V.) to lapse.

Having considered the merits of the acquisition on the terms set out in the
Option ("Terms") in consultation with certain key shareholders and potential
funders, the Board have concluded that the exercise of the Option, and the
dilution to existing shareholders that would result, makes the acquisition on
the Terms not in the best interests of the Company's shareholders.

The Company's management will continue to explore the opportunity of the
acquisition on alternative terms and will advise shareholders of progress in due
course.

For further information please contact:

Richard Williams, Chief Executive Officer, Norwood Immunology Limited
+44 (0) 7860 295153

Lisa Baderoon, Mark Court, Mary-Jane Johnson, Buchanan Communications
+44 (0) 207 466 5000

Notes for editors:

Norwood Immunology has licensed its immunology intellectual property to TAP
Pharmaceutical Products Inc. for commercialization in the United States,
utilizing TAP's GnRH analogue, Lupron Depot(R) (leuprolide acetate for depot
suspension).  This combined initiative is exploring the use of Lupron Depot in
regenerating the thymus gland and in turn "re-booting" the body's immune system,
enabling patients to better recover from life-threatening diseases.

TAP Pharmaceutical Products Inc., located in Lake Forest, IL., U.S.A., is a
joint venture between Abbott, headquartered in Abbott Park, IL., U.S.A ., and
Takeda Pharmaceutical Company Limited of Osaka, Japan.  TAP currently markets
Lupron Depot and Prevacid(R) (lansoprazole).  For more information about TAP and
its products, please visit the company's web site at www.tap.com.

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

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