SUMM.L Regulatory News (SUMM)

24 Jan 2006 07:00

VASTox plc24 January 2006 VASTox plc announces positive preclinical results in its lead Duchenne Muscular Dystrophy programme Oxford, UK, 24th January 2005 - VASTox (AIM: VOX), a leading chemical genomicscompany, today announces promising results from its lead preclinical developmentprogramme for Duchenne Muscular Dystrophy ("DMD"). DMD is a devastating diseasethat affects young males for which there is currently no effective treatment.Patients rarely survive beyond the age of 25. For the first time, VASTox ("the Company") has demonstrated in vivoup-regulation (increased production) of the protein utrophin by a number ofsmall molecules from their proprietary chemical library. This is a significantdevelopment as utrophin has been demonstrated to replace the function ofdystrophin, which is missing in DMD patients and helps keep muscle cells intact.Up-regulation of utrophin is widely viewed by the scientific community as ahighly promising avenue for the development of an effective treatment for DMD. The gene for utrophin was discovered by Prof. Kay Davies FRS, CBE who is aco-founder of VASTox. Prof. Kay Davies is an acknowledged leading expert in thisfield and has studied extensively the utrophin replacement approach to thetreatment of DMD. VASTox intends to optimise and develop the most promising lead candidates fromthis on-going study, and conduct a more extensive screen for additionalcompounds in 2006 with the aim of selecting a clinical candidate in 2007.VASTox owns the rights to the relevant patents and licences relating to thisprogramme. VASTox has already added further value to the compounds that have demonstratedthe ability to up-regulate utrophin by simultaneously conducting a preliminarytoxicology assessment using its proprietary zebrafish assays. This uniqueapproach allows the Company to eliminate potentially toxic compounds muchearlier in the development process than normal. This not only reduces the costand time of early drug discovery, but also minimises the use of mammals later indevelopment. Commenting on the results, Steven Lee, PhD, CEO of VASTox said: "This is a realbreakthrough for the treatment of this terrible disease, and for the Company. Wehave shown that our proprietary technologies can very quickly generate promisinglead compounds. We are also very pleased that we have validated our zebrafishgenomics platform to screen out potentially toxic small molecules, therebycutting-down on the need for higher animal testing." Commenting on today's announcement, Prof. Kay Davies, Dr Lee's Professor ofAnatomy and Director of the MRC Functional Genetics Unit, University of Oxford,and co-founder of VASTox, said: "I am delighted to see, for the first time, invivo up-regulation of utrophin using small drug-like molecules. I believe thatup-regulation of utrophin currently offers the most promising avenue for thedevelopment of a new treatment for Duchenne Muscular Dystrophy. The Company hasnot only brought commercial skills to academic research in this area but VASToxalso shares my commitment to developing effective therapies for the patients ofDMD." - ends - About Duchenne Muscular Dystrophy (DMD) DMD is a congenital disease caused by the absence of the protein dystrophin. Thedisorder occurs in about 1 in 3,000 males, with around 30% of DMD cases arisingin boys with no family history of the disease. The lack of the proteindystrophin results in severe skeletal and heart muscle deterioration. Thedisorder is progressive and it is rare for a male to survive beyond the age of25. To date, there is no known cure for the disease. 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 two additional programmes focused onosteoarthritis and tuberculosis that are expected to be out-licensed prior toentering the clinic. The company's technology platform, which uses using zebrafish and fruitflies,has the potential to dramatically decrease the time and cost of drug discoveryand development. This is because using whole organisms allows it to carry outhigh volume, high content screening that delivers data which is highlypredictive of the efficacy and toxicity of potential drug compounds in humans.VASTox is growing revenues based on marketing its unique technology platform andits chemistry expertise. VASTox was formed in January 2003 from the University of Oxford, by some of theUK's foremost scientists who have taken a highly creative approach to theproblems involved in drug discovery and who have a proven record in deliveringtechnological excellence. The company listed on the AIM segment of the LondonStock Exchange in October 2004. Further information about the company may be accessed at the VASTox website: www.vastox.com Contacts VASToxSteven Lee, PhD, CEO Tel: +44(0) 1235 443910Darren Millington, Head of Finance Citigate Dewe RogersonDavid Dible/ Mark Swallow / Valerie Auffray Tel: +44 (0)207 638 9571 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 include (factorsincluded in this presentation) and regional, national, global political,economic, business, competitive, market and regulatory conditions. This information is provided by RNS The company news service from the London Stock Exchange