Change of Name

20 Jul 2007 07:00

VASTox plc20 July 2007 Summit Corporation plc ("Summit" or "the Company") SUMMIT IS THE NEW NAME FOR VASTOX New Corporate Website Launched Oxford, UK, 20 July 2007 - Summit Corporation plc (AIM: SUMM), a leading UKbiotechnology company, announces that the Company's name change from VASTox plc(AIM: VOX) has been completed. In parallel with this name change, the Companyhas launched its new corporate website: www.summitplc.com The Company decided to change its name from VASTox to Summit following a periodof growth and development that saw it both enhance its drug pipeline andstrengthen its core technology capabilities internally and through its recentacquisitions. The new name aims to encapsulate the ambitions of the Company andto provide an identity that has the flexibility to accommodate the future growthand development of the business. The change of name was approved byshareholders at the Company's AGM on 19 July 2007. As part of the changes, Summit's most advanced clinical and preclinical drugcandidates will now be known by the following names: Programme Status Former Identity Summit plc Identity Parkinson's: Sialorrhoea Phase I DL06001 SMT D001Parkinson's: Seborrhoea Phase I DL06003 SMT D002Duchenne muscular dystrophy Preclinical VOXC 1100 SMT C1100VOX 14400 Preclinical VOX 14400 SMT 14400Glaucoma Preclinical DL06005 SMT D003 Steven Lee, PhD, CEO of Summit plc said: "I am delighted with the support theCompany has received from our shareholders that has enabled the Company tochange its identity to Summit. I am confident that the Company's new identityprovides the business with a mature identity that will support the futuresuccess of our operations." - ends - For more information please contact: Summit plcSteven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443951Darren Millington, ACMA, Chief Financial Officer Citigate Dewe RogersonMark Swallow / David Dible / Valerie Auffray Tel: +44 (0)207 638 9571 Evolution SecuritiesTim Worlledge / Bobbie Hilliam / Neil Elliot Tel: +44 (0)207 071 4300 About Summit plc Summit plc is a leading UK biotechnology company that discovers and developsproprietary new drugs. The Company's internal drug development programmes areunderpinned by its advanced carbohydrate chemistry and drug screening (chemicalgenomics) technology platforms, which it also provides on a collaborative orfee-for-service basis to the pharmaceutical industry. Summit plc 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. Summit plc's in-house drug development capabilities combine world-classexpertise in both 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: SUMM Further information about the company is available at www.summitplc.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