SUMM.L Regulatory News (SUMM)

17 Apr 2007 07:03

VASTox plc17 April 2007 VASTox plc ("VASTox" or "the Company") VASTox GRANTED KEY EUROPEAN PATENT TO CONSOLIDATE MARKET DOMINANCE IN ZEBRAFISH CHEMICAL GENOMICS Oxford, UK, 17 April 2007 - VASTox plc (AIM: VOX) today announced that theEuropean Patent Office has granted a patent (EP1644733/Screening MethodsEmploying the Zebrafish and the Blood Brain Barrier), which significantlyincreases the value of the Company's zebrafish disease modelling and chemicalgenomics technology platform, and provides protection against otherorganisations using similar technology. This patent has also been filed in otherterritories including the US, Japan and Australia. VASTox has an extensivepatent estate protecting the Company's zebrafish technology platform with over15 patents either granted or filed and under examination in the world's majorterritories. The zebrafish is an extremely valuable drug discovery model due to significantgenetic similarities with humans, including conservation of vital organs, and itprovides invaluable in vivo safety and efficacy data from the earliest stages ofthe drug discovery process. The blood brain barrier ('BBB') has importantconsiderations in the development of new therapeutics and is a major cause ofneurological drug candidates failing in clinical trials as they cannot penetratethis protective layer of blood vessels surrounding the brain. This new patentindicates the existence of a functional BBB in zebrafish and allows VASTox touse this important physiological feature for the discovery and development ofnew medicines. VASTox is the dominant global force in zebrafish chemical genomics and has anunrivalled zebrafish technology platform. In addition to this patent, theCompany has sought to further protect its unique technology and the use ofzebrafish within drug discovery through the filing of a number of additionalpatents that cover the world's major pharmaceutical markets. VASTox also has anumber of proprietary drug discovery programmes using zebrafish models in thedevelopment of new medicines. Steven Lee, PhD, CEO, commented: "The granting of this patent consolidatesVASTox's position as the world's dominant player in the use of zebrafish todiscover and develop new medicines. This represents another step towards theCompany benefiting from the pharmaceutical industry's increasing adoption of ourtechnology." - ends - For more information, please contact: VASToxSteven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443951Darren Millington, Chief Financial Officer Citigate Dewe RogersonMark Swallow / David Dible / Valerie Auffray Tel: +44 (0)207 638 9571 Notes for Editors Blood Brain Barrier The blood brain barrier ('BBB') consists of tightly packed blood vesselssurrounding the brain and is present in all mammals. This barrier acts as aprotective layer as it blocks the passage of most chemicals into the brain and99% of drugs are unable to penetrate the BBB, a major cause of neurological drugfailure. This patent provides evidence for the existence of a BBB in zebrafish and itsrelevance in drug discovery to give VASTox protection for using zebrafish whenscreening potential drugs for neurological and ophthalmic effects, two areas ofexpertise for the Company. 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