Proteome Regulatory News (PRM)

21 Dec 2007 07:00

PROTEOME SCIENCES plc PRESS RELEASE Current Trading

21 December 2007. In the company's interim statement which was released on the 28th September, 2007 details were given about the introduction of isobaric tandem mass tags (TMT‚®) to the market and of the expected timing of the conclusion of outlicencing agreements for this product.

The trade launch for TMT‚® got underway in November and early indications are that the product has been well received.

Draft licence proposals for TMT‚® have been put to the company from a number of major players, and these proposals are now being finalised in order to conclude an exclusive licence agreement in the field of isobaric tandem mass tags.

The existing loan facility from Christopher Pearce, the Chief Executive of the group, has not yet been fully drawn down, and it has also been agreed that this facility may be increased, subject to any necessary regulatory approvals.

Against this background, the Board continues to view future prospects for TMT‚® commercialisation with increasing confidence, though it is possible that such licence negotiations may not now be completed until the early part of 2008, rather than at the end of 2007 as previously indicated.

Ends Notes to editors:

Proteome Sciences plc applies high sensitivity proteomics to identify and characterise differential protein expression in diseases for diagnostic, prognostic and therapeutic applications. It has discovered blood biomarkers principally for stroke, vCJD, BSE, brain damage, solid organ transplant rejection and Alzheimer's disease. The main focus of its research currently addresses neurological, neurodegenerative, oncology and cardiovascular conditions.

In addition to its own proprietary biomarkers, Proteome Sciences has developed ProteoSHOP‚® (Proteome Sciences High Output Proteomics), a toolbox that offers high sensitivity and high throughput gel and gel-free proprietary technologies for the identification and validation of potential biomarkers and drug targets, including specialisation in membrane proteins and protein phosphorylation. ProteoSHOP‚® also provides for the rapid establishment of quantitative and highly reproducible portable mass spectrometric assays for proteins and peptides.

The Company has developed a range of specialist reagents to improve the performance and quantitation of protein separation and characterisation with mass spectrometry, bioinformatics, statistics and pattern recognition. These include Sensitizer‚®, PST‚®, qPST¢â€ž¢ and TMT‚®. Proteome Sciences has patent allowances in the major global jurisdictions for isobaric tandem mass tags (TMT ‚®) for the manufacture and use of any type of isobaric mass tags.

Commercialisation is actively pursued across the portfolio of the Company's programmes and technologies with licensing deals signed in biomarkers for Stroke and TSEs and for ProteoSHOP‚®.

Proteome Sciences has its headquarters in Cobham, Surrey in the UK and has laboratories at Kings College Hospital, London and Frankfurt Innovations Zentrum (FIZ), Frankfurt. It employs 32 full time scientists in addition to its corporate and business development staff, and has collaborative research agreements with leading academic institutes. The Company is listed on the Alternative Investment Market.

For further information please visit www.proteomics.com.

Proteome Sciences plcChristopher Pearce, Chief Executive Officer James Malthouse, Finance DirectorEmail: christopher.pearce@proteomics.com Email: james.malthouse@proteomics.comTel: +44 (0)1932 865065 Public RelationsIKON Associates Coast CommunicationsAdrian Shaw Matt BaldwinTel: +44 (0)1483 535102 Tel: +44 (0)1233 503200Mobile: +44 (0)797 9900733 Mobile: +44 (0)7930 439739Email: adrian@ikonassociates.com Email: matt@coastcommunications.comNominated AdviserTeather & GreenwoodGareth Price / Thilo Hoffman Tel: +44 (0)20 7426 9000