SUMM.L Regulatory News (SUMM)

23 Apr 2007 09:13

VASTox plc23 April 2007 VASTox plc ("VASTox" or "the Company") VASTOX PLC ANNOUNCES APPOINTMENT OF GEORGE ELLIOTT TO THE BOARD OF DIRECTORS Oxford, UK, 23 April 2007 - VASTox plc (AIM: VOX), a leading UK biotechnologycompany, announces today the appointment of George Elliott to the Board ofDirectors as a Non-executive Director. Mr Elliott, 54, brings to VASTox a wealth of financial and commercial expertiseand experience, gained from a 30-year career during which he has overseen thefinancial development and growth of small technology companies into main-marketFTSE listed companies. For seven years prior to joining VASTox's Board, Mr Elliott was Chief FinancialOfficer of Wolfson Microelectronics plc, a leading global provider of highperformance semiconductors to the consumer electronics market with blue-chipmultinational customers that include Apple, Sony, Microsoft, Samsung and HP.During his period, he oversaw the Company gain an entry into the FTSE 250 index.Before his time with Wolfson, Mr Elliott was Business Development Director atMcQueen International Ltd (now SYKES), where he was responsible for strategicsales and marketing. Mr Elliott, formerly a partner of Grant Thornton, is a Chartered Accountant andhas a degree in Accountancy and Finance from Heriot-Watt University. From July 2007, one of Mr Elliott's key roles on the Board will be to Chair theCompany's Audit Committee. Barry Price, PhD, Chairman of VASTox, commented: "I am delighted to welcome aman of George's calibre to VASTox's Board of Directors. The financial knowledgehe brings complements and enhances the Board's existing range of skills andexpertise across all areas of business and will be invaluable as the Companyenters its next phase of growth and development." George Elliott added "I am excited to be joining such a dynamic and ambitiouscompany as VASTox and I look forward to playing my role in helping the Companyfulfil its tremendous potential by building upon its progress already made anddeliver real value to all our shareholders." AIM Rules Disclosure Save for the disclosures below, there are no other disclosures to be under Rule17 and paragraph (g) of Schedule 2 of the AIM rules. Current DirectorshipsCompany Date of AppointmentElliott Corporate Development Limited 10 April 1996 Previous DirectorshipsCompany Date of ResignationWolfson Microelectronics plc 28 February 2007 Mr Elliott was a director of Calluna Technology Limited ("CTL"), a subsidiary ofCalluna plc, from 1998. He handed in his notice of resignation on 21 July 1999.In February 2000, CTL appointed an administrator. At that time CTL had externaldebts of £5.4 million and intergroup debts of £31.9 million. - 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 Rogerson Tel: +44 (0)207 638 9571Mark Swallow / David Dible / Valerie Auffray 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