SUMM.L Regulatory News (SUMM)

23 May 2007 07:02

VASTox plc23 May 2007 VASTox plc ("VASTox" or "the Company") VASTOX PREPARES TO COMMENCE NEXT PHASE OF CLINICAL DEVELOPMENT FOR TWO LEADING NEURO-DISORDER DRUG PROGRAMMES Progress follows earlier positive clinical data Oxford, UK, 23 May 2007 - VASTox plc (AIM: VOX), a leading UK biotechnologycompany, announces that the Company is preparing to commence the next set ofclinical trials in its two leading neuro-disorder programmes, which target twosymptoms of Parkinson's disease. This development follows positive results from initial Phase I studies of thesmall molecule drug candidates, which show them not only to be safe but also tosignificantly suppress saliva and sebum production, the causes of twodistressing symptoms in Parkinson's disease, sialorrhoea (drooling) andseborrhoea (greasy skin) respectively. The results from the sebum study were sopronounced, with a reduction in sebum production of 70%, that it has led VASToxto investigate this clinical candidate as a potential treatment in themulti-billion dollar acne market. Both programmes were previously owned by DanioLabs, which was acquired by VASToxin March 2007, and the progression of these clinical programmes follows asuccessful period of integration into the scientific and commercialinfrastructure of the enlarged Company. The two programmes were developed using the Company's expertise in drugreprofiling, which is based on combining clinical observations with the resultsof screening drugs through zebrafish disease models. In these two programmes,this reprofiling approach has found two new indications for established drugswith a history of safe use but it is equally valid for drugs that have failed toreach the market due to low efficacy against their original indications. In the seborrhoea programme, recruitment for the next Phase I clinical trial isunderway and VASTox expects to begin this in mid 2007. In sialorrhoea, acombined Phase I/II clinical trial in patients will commence in the fourthquarter of 2007. Steven Lee, PhD, CEO of VASTox commented "The deal to acquire DanioLabs earlierthis year provided VASTox with a broader drug pipeline, which includescandidates at the clinical and preclinical stages of development, as well as astrong and growing patent estate to protect these drug programmes in keymarkets. These two lead Phase I programmes have now been fully integrated intothe enlarged Company and work to continue the next phase of development inconjunction with strong commercial activity is underway." - ends - For more information please contact: VASTox Steven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443951Darren Millington, ACMA, Chief Financial Officer Citigate Dewe RogersonMark Swallow / David Dible / Valerie Auffray Tel: +44 (0)207 638 9571 Evolution SecuritiesNeil Eliott / Tim Worlledge Tel: +44 (0)207 7071 4300 About VASTox plc VASTox is a leading UK biotechnology company that discovers and developsproprietary new drugs. The Company's internal drug development programmes areunderpinned by its advanced chemistry and drug screening (chemical genomics)technology platforms, which it also provides on a collaborative orfee-for-service basis to the pharmaceutical industry. VASTox has a broad range of drug discovery programmes in the clinical,pre-clinical and discovery stages of development, which target serious diseaseswith a high unmet medical need. These therapeutic areas include neuro-disorders(neurodegenerative and neuromuscular), anti-infectives, ophthalmic diseases,oncology and regenerative medicines. VASTox's in-house drug development capabilities combine world-class expertise inboth medicinal and carbohydrate chemistry with high-volume, high-contentscreening using its proprietary zebrafish and fruitfly technologies (chemicalgenomics). These whole organism screens have the potential to dramaticallydecrease the time and cost of drug discovery and development by delivering datathat are highly predictive of the efficacy and toxicity of potential drugcompounds in humans. The company listed on the AIM market of the London Stock Exchange in October2004 - symbol: VOX Further information about the company is available at www.vastox.com This document contains "forward-looking statements" within the meaning of theU.S. Private Securities Litigation Reform Act of 1995. Forward-lookingstatements can be identified by words such as "anticipates", "intends", "plans","seeks", "believes", "estimates", "expects" and similar references to futureperiods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company's current expectations andassumptions regarding our business, the economy and other future conditions.Because forward-looking statements relate to the future, by their nature, theyare subject to inherent uncertainties, risks and changes in circumstances thatare difficult to predict. The Company's actual results may differ materiallyfrom those contemplated by the forward-looking statements. The Company cautionsyou therefore that you should not rely on any of these forward-lookingstatements as statements of historical fact or as guarantees or assurances offuture performance. Important factors that could cause actual results to differmaterially from those in the forward-looking statements and regional, national,global political, economic, business, competitive, market and regulatoryconditions. This information is provided by RNS The company news service from the London Stock Exchange