Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

VASTox plc (SUMM)

  Print      Mail a friend

Thursday 22 March, 2007

VASTox plc

Acquisition

VASTox plc
22 March 2007

VASTox plc will present further details of the acquisitions announced below and
its strategy going forward at a meeting for analysts to be held at 09.30hrs on
22 March 2007 at the offices of Citigate Dewe Rogerson, 3rd Floor, 3 London Wall
Buildings, London Wall, London EC2M 5SY. Please contact Mark Swallow, Valerie
Auffray or Janine Hagan on 020 7638 9571 for further information.



                                   VASTox plc
                          ('VASTox' or 'the Company')


VASTox plc ACQUIRES DANIOLABS LTD AND DEXTRA LABORATORIES LTD TO STRENGTHEN ITS
          DRUG DISCOVERY PIPELINE AND PHARMACEUTICAL SERVICES BUSINESS


•         Enhances drug pipeline through the addition of two clinical and two
pre-clinical programmes in neurological and ophthalmic diseases

•         World dominance in two drug discovery technology platforms: chemical
genomics and carbohydrate chemistry

•         Immediate increase in revenue generation from expanded and enhanced
drug discovery service business


Oxford, UK, 22 March 2007 - VASTox plc (AIM: VOX) announced today that it has
completed the simultaneous acquisition of DanioLabs Ltd ('DanioLabs'), a private
UK drug discovery company, and Dextra Laboratories Ltd ('Dextra'), a specialist
carbohydrate chemistry service company.


These deals represent an important strategic step for VASTox as they strengthen
and diversify its drug discovery and development pipeline through the addition
of two clinical and two pre-clinical programmes in neurological and ophthalmic
diseases, which will provide increased near-term opportunities for high-value
licensing and partnership deals; enhance its scientific expertise and
capabilities in zebrafish chemical genomics and carbohydrate chemistry; and
boost its scientific infrastructure through the acquisition of two high-tech
laboratory facilities in Cambridge and Reading. These technology platforms are
crucial to VASTox's ability to create value as they underpin its internal drug
discovery and development programmes as well as forming a basis for the enhanced
growth of its profitable pharmaceutical services business.


In addition, the strengthened technology platforms will immediately increase the
revenues generated by the service business and also offers the potential for an
increase in number of higher-value collaboration deals with its now enlarged
client base.


Daniolabs (Cambridge, UK) has been acquired for £15 million payable through the
issue of 11,732,361 new 10p ordinary shares and cash of £159,000 to DanioLabs'
existing shareholders based on a VASTox share price of 126.5p, calculated as an
average share price over a ten-day period ending 20 March 2007, the last
business day before the deal was concluded. Of the consideration shares,
1,173,233 shares will deferred and issued in one year's time provided there are
no warranty claims during the intervening period.  At 31 July 2006 DanioLabs
recorded net assets of £2.74m and a loss on operating activities before taxation
of £2.76m.


The CEO and CFO of DanioLabs will step down with immediate effect. VASTox will
retain Daniolabs' scientific research facility in Cambridge and all 37 remaining
staff will take up new positions within the enlarged Group.


In addition, Dr Andrew Richards, a Non-Executive Director of Daniolabs since its
inception, will be appointed as a Non-Executive Director of VASTox. See Notes to
Editors for biography.


Dextra Laboratories (Reading, UK) has been acquired for £1.5 million, payable
through the issue of 1,185,771 new 10p ordinary shares to Dextra's existing
shareholders, based on a VASTox share price of 126.5p, calculated as an average
share price over a ten-day period ending 20 March 2007, the last business day
before the deal was concluded.  On 30 September 2006 Dextra recorded net assets
of £0.17m and a profit on operating activities before taxation of £0.07m.


VASTox will retain Dextra's state-of-the-art chemistry facility in Reading with
all 17 Dextra employees becoming employees of the enlarged VASTox.


The acquisitions are expected to complete by 28 March 2007 when the shares will
be admitted to AIM. Following the completion of both these transactions, a total
of 48,961,965 ordinary shares will be in issue.


Commenting on both deals, VASTox's CEO Steve Lee, PhD said: 'The acquisitions of
DanioLabs and Dextra represent a transforming development for VASTox. The
successful completion of these two deals will add significant value to VASTox's
business with important clinical and pre-clinical additions to our drug pipeline
and a strengthening of our drug discovery and development technology platforms.


'Following these transactions, plus the earlier deal with MNL Pharma in December
2006, VASTox now has a broad drug discovery pipeline with programmes in clinical
and discovery phases of development targeting neuro-disorders, cancer,
ophthalmology, infectious diseases and regenerative medicine. In addition, the
Company has established itself as the dominant global player in the areas of
chemical genomics and carbohydrate chemistry, both of which are increasingly
being recognised by pharmaceutical and biotechnology companies as valuable and
effective technologies for the drug discovery and development process.


'Today's announcement further highlights the ambitions we have for the future of
VASTox and we are confident the enlarged company has now reached a position
where it will be able to create substantial value for all our shareholders.'


Further Information


An Enhanced Drug Discovery Pipeline

The acquisition of DanioLabs has expanded VASTox's drug discovery pipeline
through the addition of a portfolio of high-quality discovery programmes across
a range of therapeutic indications. One of VASTox's core areas of expertise in
neuro-disorders (neurodegenerative and neuromuscular) has been boosted by two
clinical programmes in Phase I trials targeting the symptoms of Parkinson's
disease, plus several discovery stage programmes focusing on a variety of
neuro-disorders including epilepsy, multiple sclerosis and cognitive disorders.
The Company's discovery pipeline has also been augmented with a well-developed
pre-clinical programme focused on treatments of glaucoma and age-related macular
degeneration (AMD).


VASTox will integrate these programmes rapidly over the coming months with the
objective of advancing them through the clinical and discovery phases of
development.


A Global Force in Two Technology Platforms

VASTox's technology platform has been significantly strengthened in the key
areas of zebrafish chemical genomics and carbohydrate chemistry. The acquisition
of DanioLabs has created the premier zebrafish company in the world and
demonstrates the belief the Company has in the ability of zebrafish to
significantly reduce the cost and time of the drug discovery process. This
belief is being validated by the rising number of service collaborations and the
increasing values of these deals, which both VASTox and DanioLabs are
undertaking with the wider pharmaceutical industry.


Tony Sedgwick, CEO of DanioLabs, commented: 'On behalf of the management and
founders of Daniolabs, I am delighted that we have been able to secure the
future of our drug discovery programmes and chemical genomics technology by
joining forces with VASTox. There is clear synergy between the two companies and
we believe that this combination has created the world's leading company in
these cutting-edge zebrafish technologies. Furthermore, we believe that this
development will maximise the opportunity for VASTox to change the way drug
discovery is conducted in the future. It will be exciting to see how this
company grows towards its ambitions of becoming a global player.'


Dextra Laboratories has an established world-class reputation in the area
carbohydrate chemistry and the Company has a profitable custom synthesis
business with a turnover in excess of £700,000 in 2006. Dextra has an unrivalled
and innovative scientific expertise in the synthesis and manufacture of compound
targets across a range of therapeutic areas. These novel synthetic techniques
and strategies have generated a valuable library of complex and rare
carbohydrate compounds, which are available to clients through an on-line
catalogue business.


The acquisition of Dextra expands significantly VASTox's scientific knowledge
and capabilities in the high-value area of carbohydrate chemistry. Carbohydrate
molecules are fundamental to life and bring significant value to drug discovery
by potentially increasing the efficacy of existing drugs while also being
sources of new therapeutics.


Following the acquisition of Dextra and the deal in December 2006 for key assets
of MNL Pharma, VASTox now has access to the world's leading experts on
carbohydrate chemistry as it becomes the global leader in this commercially
under-exploited area of the drug discovery industry.


John Fromson, PhD, Executive Chairman of Dextra, commented: 'We are delighted
that Dextra will be joining forces with VASTox and are excited about the
scientific, commercial and financial input VASTox can offer to developing our
combined offering for enhancing the drug discovery and development process. Our
scientists look forward to being part of VASTox and working towards realising
the full potential of carbohydrates in the pharmaceutical industry and
developing this world-class business.'


Following this announcement, VASTox have begun the process to find a new
corporate identity, which will better reflect the business of the enlarged
Company.


High resolution images are available for the media to view and download free of
charge from www.vismedia.co.uk


                                    - ends -


For more information, please contact:

VASTox
Steven Lee, PhD, Chief Executive Officer              Tel: +44 (0)1235 443951
Darren Millington, Chief Financial Officer


Citigate Dewe Rogerson
Mark Swallow / David Dible / Valerie Auffray          Tel: +44 (0)207 638 9571


Notes to Editors


About VASTox plc


VASTox is a leading UK biotechnology company that discovers and develops
proprietary new drugs. The Company's internal drug development programmes are
underpinned by its advanced chemistry and drug screening (chemical genomics)
technology platforms, which it also provides on a collaborative or
fee-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 diseases
with 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 in
both medicinal and carbohydrate chemistry with high-volume, high-content
screening using its proprietary zebrafish and fruitfly technologies (chemical
genomics). These whole organism screens have the potential to dramatically
decrease the time and cost of drug discovery and development by delivering data
that are highly predictive of the efficacy and toxicity of potential drug
compounds in humans.


The company listed on the AIM market of the London Stock Exchange in October
2004 - symbol: VOX


Further information about the company is available at www.vastox.com


About the Nominated Non-Executive Director, Dr Andrew Richards


Dr Andrew Richards has been a director of DanioLabs since its foundation in
2002. He is currently a director of Vectura Group plc, Biowisdom Limited,
Theradeas Limited, Cancer Research Technology Limited (commercial arm of CR-UK)
and Babraham Bioscience Technology Limited in addition to being chairman of
Geneservice Limited and Pharmakodex Limited. He is a founder member of the
Cambridge Angels, a member of the Council of UEA and a director of the
Bioindustry Association (BIA). A Cambridge graduate with a PhD in protein
chemistry, he spent his early career with ICI plc (now AstraZeneca plc) and with
PA Technology. In 1992, he co-founded Chiroscience and was business development
director through to the merger in 1999 with Celltech. He is an established
biotechnology entrepreneur and business angel, focusing on founding, investing
in, and assisting in the development of biotechnology and healthcare companies
including several of those listed above as well as Arakis Limited, Cambridge
Biotechnology Limited, Amedis Pharmaceuticals Limited and Sirus Pharmaceuticals
Limited all of which were recently sold.


VASTox confirms that, save for the above, there are no other matters under
paragraph (g) of Schedule 2 of the AIM rules to be announced.



This document contains 'forward-looking statements' within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as 'anticipates', 'intends', 'plans',
'seeks', 'believes', 'estimates', 'expects' and similar references to future
periods, or by the inclusion of forecasts or projections.


Forward-looking statements are based on the Company's current expectations and
assumptions regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, by their nature, they
are subject to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. The Company's actual results may differ materially
from those contemplated by the forward-looking statements. The Company cautions
you therefore that you should not rely on any of these forward-looking
statements as statements of historical fact or as guarantees or assurances of
future performance. Important factors that could cause actual results to differ
materially from those in the forward-looking statements include (factors
included 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