SUMM.L Regulatory News (SUMM)

31 May 2006 09:30

VASTox plc31 May 2006 VASTox BECOMES A PARTNER IN THE EUROPEAN NETWORK OF EXCELLENCE TO ADVANCE THE TREATMENT OF RARE NEUROMUSCULAR DISEASES "Network of Excellence" funded by €10 million EU grant Oxford, UK, 31 May 2006 - VASTox (AIM: VOX), a leading chemical genomicscompany, today announces that the European Union has awarded a €10 million grantto the TREAT-NMD network, of which VASTox is a member. VASTox and a network ofleading researchers, clinicians and patient associations have joined forces toprogress the development of treatments for rare neuromuscular diseases (NMD),such as muscular dystrophies and spinal muscular atrophy. The EU grant will fundcollaborative research and development efforts into these important therapeuticareas. VASTox will work closely with the other members of the TREAT-NMD network ofexcellence to develop best practice in all areas of NMD research anddevelopment, in particular, ensuring the route of a drug candidate from thelaboratory bench to an approved medicine is as efficient as possible. VASToxhas drug development programmes in two NMD areas: Duchenne muscular dystrophyand spinal muscular atrophy. There are currently no medicines to effectivelytreat patients with either of these fatal genetic diseases. Twenty-one organisations from 11 European countries will work together to ensurethat future treatments for NMD diseases have the best chance of success bymaking the development of NMD drugs quicker and more cost-effective. Theconsortium is led by the University of Newcastle and will liaise closely withNMD charities and patient groups across Europe. The grant is phased over fiveyears and will be split between the consortium members. Steven Lee, PhD, CEO of VASTox said: "Being a key industry partner of thisnetwork of excellence is recognition of our expertise in the field of drugdevelopment for neuromuscular diseases. VASTox will bring an industry focus toensure that new drug candidates have the very best chance of successfullyreaching patients. VASTox is committed to developing safe and effectivetreatments for Duchenne muscular dystrophy and spinal muscular atrophy. " Nick Catlin, CEO of Parent Project UK, a muscular dystrophy charity, said: "Duchenne muscular dystrophy (DMD) is a severe genetic muscle wasting diseasethat has a devastating effect on both patients and the lives of everyone intheir family. The research at VASTox and new funding for the TREAT-NMD networkoffers all our families real hope for the future. VASTox are at the forefront ofdeveloping new drug treatments in the UK that we hope will help us to win therace against time for this generation of children with DMD." - ends - For more information please contact: VASTox Tel: +44 (0)1235 443910 Steven Lee, PhD, Chief Executive Officer Darren Millington, Chief Financial Officer Parent Project UK Tel: +44 (0)208 556 9955Nick Catlin, Chief Executive Officer Tel: +44 (0)7920 723 490 Email: nick@ppuk.org 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. About Parent Project UK Parent Project UK Muscular Dystrophy (PPUK) is the only national charity thatexclusively funds research and campaigns for better medical care for Duchenneand Becker muscular dystrophy. PPUK was set up by parents of boys with Duchennemuscular dystrophy in 2001 and has since been instrumental in setting up aconsortium of researchers to develop the first clinical trial for a Gene Therapyin the UK. The MDEX consortium has already won £1.6m of funding from theDepartment of Health following the lobbying of parents and supporters from PPUK. PPUK has networks of Parent Action Groups across the UK and has recently setup a DMD Registry, www.dmdregistry.org, that will be the first national databaseof all those living with DMD in the UK. PPUK will make this data available tohelp to accelerate future research and clinical trials. Further information is available at www.ppuk.org. This information is provided by RNS The company news service from the London Stock Exchange