SOURCE: Antisoma plc

June 07, 2007 07:00 ET

Antisoma receives USD 75 million following successful completion of ASA404 licensing agreement

LONDON--(Marketwire - June 7, 2007) -



London, UK, 7 June 2007: Antisoma plc (LSE:ASM, US OTC: ATSMY) announces that it has received the first scheduled payment of USD 75 million from Novartis under the recently announced licensing agreement for ASA404 (formerly AS1404).

The payment was triggered by completion of the licensing agreement following notification from the competent US authorities regarding compliance with the provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Enquiries:
Daniel Elger, Director of Communications, Antisoma plc
+44 (0)20 8799 8200
Antisoma disclaimer

Except for the historical information presented, certain matters discussed in this statement are forward looking statements that are subject to a number of risks and uncertainties that could cause actual results to differ materially from results, performance or achievements expressed or implied by such statements. These risks and uncertainties may be associated with product discovery and development, including statements regarding the company's clinical development programmes, the expected timing of clinical trials and regulatory filings. Such statements are based on management's current expectations, but actual results may differ materially.

Background on ASA404

ASA404 (DMXAA) is a small-molecule vascular disrupting agent which targets the blood vessels that nourish tumours. The drug was discovered by Professors Bruce Baguley and William Denny and their teams at the Auckland Cancer Society Research Centre, University of Auckland, New Zealand. It was in-licensed by Antisoma from Cancer Research Ventures Limited (now Cancer Research Technology), the development and commercialisation company of the Cancer Research Campaign (now Cancer Research UK), in August 2001. CRUK had supported two phase I studies in the UK and New Zealand. ASA404 has shown a substantial survival benefit in patients with non-small cell lung cancer when added to paclitaxel-based chemotherapy in a randomised phase II study. Worldwide rights to the drug were licensed to Novartis AG in April 2007.

Background on Antisoma

Based in London, UK, Antisoma is a biopharmaceutical company that develops novel products for the treatment of cancer. Antisoma fills its development pipeline by acquiring promising new product candidates from internationally recognised academic or cancer research institutions. Its core activity is the preclinical and clinical development of these drug candidates. Please visit www.antisoma.com for further information.


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