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VASTox plc (SUMM)

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Wednesday 20 June, 2007

VASTox plc

Grant Funding

VASTox plc
20 June 2007



                                   VASTox plc

                          ('VASTox' or 'the Company')



                  VASTOX AWARDED £400,000 GRANT TO SUPPORT R&D

                       AT CARBOHYDRATE CHEMISTRY FACILITY



Oxford, UK, 20 June 2007 - VASTox plc (AIM: VOX), a leading UK biotechnology
company, announces that it has been awarded a grant of £400,000 by the Welsh
Development Agency ('WDA') under the SMARTCymru scheme.  The grant, which runs
for 12 months, will support the research and development work undertaken at
VASTox's Aberystwyth facility and provides recognition of the unique skills and
expertise of its scientists based there.



The research facility in Wales forms a key part of VASTox's world-leading
carbohydrate chemistry technology platform, which also comprises its specialist
carbohydrate chemistry subsidiary, Dextra Laboratories, based in Reading.  The
research at Aberystwyth identifies naturally occurring biologically-active
carbohydrate compounds with which VASTox has built a library of unique drug-like
molecules.  This library is expected to provide the Company with opportunities
to create new drug programmes across a broad range of therapeutic areas thereby
fuelling its drug pipeline.



Steven Lee, PhD, CEO of VASTox added: 'VASTox seeks to find different sources of
funding to strengthen the business and the award of this sizeable grant by the
WDA is illustrative of this.  The grant will support both the infrastructure and
R&D undertaken at our Aberystwyth site, which is an integral part of our
world-leading carbohydrate chemistry technology platform and commercial
offering.'



                                    - ends -





For more information please contact:

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

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

Evolution Securities
Tim Worlledge / Bobbie Hilliam / Neil Elliot           Tel: +44 (0)207 7071 4300





About SMARTCymru



SMARTCymru is a research and development (R&D) scheme to assist new product and
process development. It is a comprehensive, pan Wales programme, from the Welsh
Assembly Government that provides easy access to funding and a unique range of
skills and expertise.






SMARTCymru has been developed in consultation with industry, with the specific
aim of encouraging and supporting innovators to carry out R&D that has real
commercial potential. Support is available for all phases of the development
life-cycle, from feasibility to exploitation. It is open to all innovators who
aim to create and exploit technologically innovative products and processes,
based in Wales.



www.wda.co.uk/smartcymru



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



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 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