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From The TimesJune 23, 2005

Activists force review by Phytopharm broker

By Richard Irving
CANACCORD CAPITAL is reviewing its role as a broker to Phytopharm, one of Britain’s best known biotech companies, after animal rights extremists targeted one of the stockbroker’s top directors.

The City firm last night confirmed reports on an Animal Liberation Front (ALF) website claiming that an incendiary device had been left under the car of one its senior managers.

A spokesman for Canaccord told The Times last night that he would be in a position to clarify the company’s relationship with Phytopharm after 7am today.

The ALF website, which is understood to be supported by the Stop Huntingdon Against Cruelty organisation (Shac), said that it had targeted the Canaccord director because of links between his company’s client, Phytopharm, and Huntingdon Life Sciences (HLS).

“Canaccord are HLS customer Phytopharm’s biggest shareholders and have raised £10 million for them. Bad mistake. If you support or raise funds for any company associated with HLS, we will track you down, come for you and destroy your property by fire,” the website said.

A spokesman for Canaccord confirmed last night that a company director’s car had been firebombed on May 26. The spokesman also confirmed that the company’s Upper Brook Street offices had been targeted by Shac demonstrators several times late last month.

The website goes on to threaten the drug company, which specialises in developing new medicines from plants. “Phytopharm, get out of HLS or see your share price crash and your supporters’ property go up in flames,” it says.

However, it was not clear last night what links the company has with HLS. Phytopharm was developing a new treatment for Alzheimer’s disease, based on a Chinese herbal medicine, alongside Yamanouchi Pharmaceuticals, a Japanese drug developer which is believed to have links with HLS. However, Yamanouchi terminated the partnership with Phytopharm in February.

New laws to prevent extremists from causing economic damage to companies connected with animal research come into effect on July 1 under the new Serious Organised Crime and Police Act.

Aisling Burnand, chief executive of the Bio Industry Association, which spearheaded the effort to lobby the Government for new laws restricting animal extremists, said: “This was clearly not a peaceful protest. The new laws will afford greater protection to companies such as Canaccord. We need to ensure that the police have sufficient resources.”




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