SUMM.L Regulatory News (SUMM)

20 Jun 2005 07:00

VASTox plc20 June 2005 For Immediate Release 20 June 2005 VASTox plc ("VASTox" or "the Company") Two new agreements Oxford, UK: (20 June) 2005 - VASTox plc (AIM: VOX), the Oxford-based drugdiscovery and services business, is pleased to announce today that it has signedtwo new agreements in the field of drug development services and chemicalgenomics. The service contract is with a leading UK-based biopharmaceutical company toprovide chemistry synthesis and process development expertise to help acceleratetheir drug development programmes. VASTox have committed four full-timeemployees to this project for the first twelve months. Terms of the contractwere undisclosed. The chemical genomics collaboration has been signed with an unnamed top-tierglobal agrochemical company to conduct a pilot study to understand the affect ofparticular pesticides on the genome of the fruitfly (Drosophila melanogaster).The partner recognises both the value of fruitflies in identifying gene targetsand the world-leading expertise of VASTox in this area. The financial termswere undisclosed. Dr Steven Lee, CEO of VASTox, said: "These contracts demonstrate the growingrecognition by our industry partners of our technology platforms. In using ourchemical genomics approach, the principle of identifying targets foragrochemicals is equally applicable to identifying targets for human diseasesand VASTox retains all rights to developed technology for pharmaceuticals." For more information please contact: VASTox plcSteven Lee, Chief Executive Officer 07766 913 898 Buchanan CommunicationsTim Anderson / Mark Court / Mary-Jane Johnson 020 7466 5000 Notes for Editors: About VASTox VASTox is a chemical genomics technology company that both provides services tothe pharmaceutical industry, and discovers and develops proprietary novel drugs.The company's technology platform aims to use high volume, high contentscreening using zebrafish and fruitflies to provide a high level ofpredictability of the efficacy and toxicity of potential drug compounds inhumans which has the potential to dramatically decrease the time and cost ofdrug discovery and development. VASTox was formed in January 2003, from theUniversity of Oxford, by some of the UK's foremost scientists who have taken ahighly creative approach to the problems involved in drug discovery and who havea proven record in delivering technological excellence. The company listed onthe London Stock Exchange AIM in October 2004. This information is provided by RNS The company news service from the London Stock Exchange