RNS Number:1899J
VASTox plc
20 September 2006

                                   VASTox plc
                          ("VASTox" or "the Company")


 VASTOX BEGINS STEM CELL THERAPY PROGRAMME WITH FUNDING FROM THE UK DEPARTMENT
                             FOR TRADE AND INDUSTRY


Oxford, UK, 20 September 2006 - VASTox (AIM: VOX), a leading UK biotechnology
company, announces today that it will begin a new proprietary drug discovery
programme in the stem cell area. The new programme will be supported by grant
funding from the UK Department of Trade and Industry (DTI) under the Technology
Programme, which is designed to stimulate innovation in the UK economy through
higher levels of research and development and knowledge transfer.

The grant will fund an 18-month #910,000 collaborative research programme
entitled Understanding the Molecular Activation of Stem Cells ('UNMASC'). The
aim of the programme is to screen small molecules in zebrafish and fruitflies to
identify compounds that affect stem cell fate (e.g. division, proliferation and
behaviour). These hits can then be developed for use in a wide range of
regenerative therapies for diseases such as Crohn's disease, Parkinson's disease
and cancer. The intellectual property relating to potential drugs will reside
exclusively with VASTox.

VASTox will undertake the research in collaboration with leading academics at
the University of Oxford, supported by the UK Medical Research Council:
Professors Roger Patient and Tariq Enver at the Weatherall Institute of
Molecular Medicine and with Dr Marcel van den Heuvel at the MRC Functional
Genetics Institute. All three academics are scientific advisors to VASTox.

Under the terms of the #910,000 programme, the DTI will provide a grant of over
#370,000 to VASTox, which the company will match. The remainder of the funding
will support the programme's academic collaborators.

Welcoming the new partnership, Science and Innovation Minister, Lord Sainsbury
said: "This initiative provides a real opportunity to harness the world-class
expertise that we possess in the UK and direct it towards the task of wealth
creation.  Biotechnology is of crucial importance in our society. By providing a
focus for collaboration and delivery, this partnership should establish British
industry as the world leader in this area and an attractive proposition for
investors."

Steven Lee, PhD, CEO of VASTox said: "This award enables VASTox to initiate a
highly innovative project in stem cell biology that combines our expertise in
chemical genomics in zebrafish and fruitflies with expertise in stem cell
biology. This exciting programme has the potential to produce a very broad range
of applications in drug discovery for the benefit of both industry and academia.
For VASTox, technology developed from the project could have multiple routes for
commercialisation via internal drug discovery programmes and further
collaborations."


                                    - ends -


For more information please contact:

VASTox
Steven Lee, PhD, Chief Executive Officer                Tel: +44 (0)1235 443910
Darren Millington, ACMA, Chief Financial Officer

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


About VASTox plc

VASTox is a chemical genomics technology company that discovers and develops
proprietary novel drugs and provides services to the pharmaceutical industry.
The company's most advanced drug development programme is focused on developing
a new treatment for Duchenne muscular dystrophy based on the up-regulation of
utrophin. A second drug development programme for spinal muscular atrophy is
also progressing rapidly. VASTox has three additional programmes focused on
osteoarthritis, cancer and tuberculosis that are expected to be out-licensed
prior to entering the clinic.
                   
The company's technology platform, which uses zebrafish and fruitflies, has the
potential to dramatically decrease the time and cost of drug discovery and
development. This is because using whole organisms allows it to carry out high
volume, high content screening that delivers data which is highly predictive of
the efficacy and toxicity of potential drug compounds in humans. VASTox is
growing revenues based on marketing its unique technology platform and its
chemistry expertise.  The company listed on the AIM market of the London Stock
Exchange in October 2004.

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


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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