SUMM.L Regulatory News (SUMM)

23 Feb 2005 07:00

VASTox plc23 February 2005 For immediate release 23 February 2005 VASTox plc ("VASTox" or "the Company") VASTox wins drug discovery contract in another new area of technology Oxford, UK: 23 February 2005 - VASTox plc (AIM: VOX), the Oxford-based drugdiscovery and services business focused on chemical genomics, is pleased toannounce that it has signed a contract with an undisclosed European biotechcompany in the area of targeting of drugs to specific organs and cell typesthrough the use of sugars. The world-leading expertise of VASTox in carbohydrate synthesis proved to be apivotal factor in winning the contract. VASTox will provide a range of servicesin return for fee-for-service payments over a 9 month period. Most drugs only perform their desired effect when they are in a particular celltype. If drugs accumulate in other cell types, it can lead to side-effects. Byattaching sugars to drugs, via sophisticated chemical linker technology, it ispossible to target drugs to particular cell types or whole organs within thebody to enhance efficacy and minimise side-effects. Under the terms of the contract, VASTox will provide chemistry expertise,product synthesis and process development for the partner to test new innovativetargeted compounds in its clinical biological systems. Dr Steven Lee, CEO of VASTox, commented: "Following on from our ChemicalGenomics deal last month, this collaboration not only allows VASTox to developour carbohydrate chemistry business unit, but also to extend into the newexciting area of glycotargeting with a leading European biotech partner. Itunderpins the fact that both our biology and chemistry technology platforms area growing force within drug discovery and of tremendous value to industry thirdparties." --ENDS- Contact details:VASTox 01865 316917Steven Lee, Chief Executive Officer Buchanan Communications 020 7466 5000Tim Anderson / Mark Court / Mary-Jane Johnson Note for Picture Editors: High resolution images are available for the media to view and download free ofcharge from http://www.vismedia.co.uk Notes for Editors: About VASTox VASTox is a chemical genomics technology company that both provides services tothe pharmaceutical industry, and discovers and develops proprietary novel drugs.The company's technology platform aims to use high volume, high contentscreening using zebrafish and fruitflies to provide a high level ofpredictability of the efficacy and toxicity of potential drug compounds inhumans which has the potential to dramatically decrease the time and cost ofdrug discovery and development. VASTox was formed in January 2003, from theUniversity of Oxford, by some of the UK's foremost scientists who have taken ahighly creative approach to the problems involved in drug discovery and who havea proven record in delivering technological excellence. The company listed onthe London Stock Exchange AIM in October 2004. This information is provided by RNS The company news service from the London Stock Exchange