Cubitt director Michael Henman is leading the account and reports to Minster CEO Dr Paul Sharpe.
Minster was created following AIM-quoted cash shell RII’s acquisition of BioPartners. In 2001, BioPartners bought worldwide licences to develop GlaxoSmithKline migraine drug Tonabersat and schizophrenia treatment Sabcomeline.
RII then delisted and changed its name to Minster Pharmaceuticals before re-listing on the AIM.
Tonabersat and Sabcomeline have completed initial clinical trials and Minster is keen to stress how profitable the drugs could be when available to the public.
The company says the market for migraine treatment in developed countries is expected to be worth £2.9bn by 2012. Schizophrenia affects around 2.5 million people in the US and drug sales are expected to reach £9bn by 2007.