SUMM.L Regulatory News (SUMM)

12 Jul 2006 07:00

VASTox plc12 July 2006 VASTox plc ("VASTox" or "the Company") VASTox APPOINTS JAMES TAYLOR TO BOARD AS CHIEF COMMERCIAL OFFICER Oxford, UK, 12 July 2006 - VASTox plc (AIM: VOX), a leading chemical genomicscompany, announces today that James Taylor has been appointed to the VASToxboard of directors as Chief Commercial Officer. James Taylor (45) has more than 20 years business experience in the life scienceindustry with a track record of delivering successful commercial deals. Mostrecently, Mr Taylor was Vice President of Business Development at Cellzome Inc.,a drug discov020 7797 4400.ery company with operations in Boston (USA),Cambridge (UK) and Heidelberg (Germany). As a member of the executive team, hewas responsible for commercialising Cellzome's complex drug discovery technologyas well as licensing early-stage drug programmes. Prior to joining Cellzome, James Taylor gained a wealth of valuable commercialexperience from an 18-year career at AstraZeneca, starting in 1984 asBiotechnology Commercial Manager at ICI Biologicals and rising to Head ofStrategy & Business Development for AstraZeneca's plant biotechnology businessin 1998. During this time he has held general management positions in the UK,USA, Canada and Hong Kong. He is currently a non-executive director of the private UK biotechnology companyKarus Therapeutics Limited. Steven Lee, CEO of VASTox said: "James has a great pedigree in the life sciencesindustry and will bring more drive to our commercial activities, includingservice deals. His experience of both large pharma in AstraZeneca and biotech inCellzome will be enormously valuable to VASTox. Together with the appointment ofDr Richard Storer as CSO and Mr Darren Millington as CFO earlier this year, theexecutive team is now in place to accelerate business growth." As part of his remuneration package, James Taylor will be awarded 300,000 shareoptions at 165 pence to vest in equal instalments on the first, second and thirdanniversary of his appointment. Other remuneration details will be disclosed inthe Company's annual report. VASTox also announces that as part of Dr Richard Storer's remuneration package,he has been awarded 600,000 share options at 165 pence, vesting in the followingtranches: 100,000 on the first anniversary of his appointment; 200,000 on thesecond anniversary of his appointment and 300,000 on the third anniversary ofhis appointment. Full details of the award will be disclosed in the Company'sannual report. VASTox confirms that, save for the above, there are no other matters underparagraph (g) of Schedule 2 of the AIM rules to be announced. - ends - For more information please contact: VASTox Tel: +44 (0)1235 443910Steven Lee, PhD, Chief Executive OfficerDarren Millington, Chief Financial Officer Citigate Dewe Rogerson Tel: +44 (0)207 638 9571David Dible / Mark Swallow / Valerie Auffray About VASTox plc VASTox is a chemical genomics technology company that discovers and developsproprietary novel drugs and provides services to the pharmaceutical industry.The company's most advanced drug development programme is focused on developinga new treatment for Duchenne muscular dystrophy based on the up-regulation ofutrophin. A second drug development programme for spinal muscular atrophy isalso progressing rapidly. VASTox has three additional programmes focused onosteoarthritis, cancer and tuberculosis that are expected to be out-licensedprior to entering the clinic. The company's technology platform, which uses zebrafish and fruitflies, has thepotential to dramatically decrease the time and cost of drug discovery anddevelopment. This is because using whole organisms allows it to carry out highvolume, high content screening that delivers data which is highly predictive ofthe efficacy and toxicity of potential drug compounds in humans. VASTox isgrowing revenues based on marketing its unique technology platform and itschemistry expertise. The company listed on the AIM market of the London StockExchange in October 2004. Further information about the company is available at www.vastox.com. This information is provided by RNS The company news service from the London Stock Exchange