9th May 2006 07:02
VASTox plc09 May 2006 VASTox plc ("VASTox" or "the Company") VASTOX APPOINTS DARREN MILLINGTON AS CHIEF FINANCIAL OFFICER AND DIRECTOR Oxford, UK, 9 May 2006 - VASTox (AIM: VOX), a leading chemical genomics company,today announces that Darren Millington ACMA, formerly VASTox' Head of Finance,has joined the Board of Directors as Chief Financial Officer. He will continuein his role as Company Secretary. Mr Millington (30) joined VASTox in April 2005 and has been instrumental inhelping the business establish and build support functions alongside VASTox'sscientific and commercial successes. Mr Millington is a Chartered Management Accountant. Having worked in the Auditand Advisory Divisions at Arthur Andersen and later at Deloitte & Touche, hejoined IP2IPO plc as Group Financial Controller in 2003. During his time atIP2IPO he gained valuable experience in a broad range of corporate financeactivities, as well as being responsible for the management of the accountsfunction. At the date of this announcement, Mr Millington holds options over 150,000ordinary shares of 1p each in the capital of the Company ("Ordinary Shares"),which were granted prior to his appointment as Chief Financial Officer withexercise prices equal to the market value of an Ordinary Share on the date ofgrant. Mr Millington also holds 1,111 Ordinary Shares at the date of hisappointment. Mr Millington currently has no other directorships and has not been a directorof a company within the preceding five years. Steven Lee, PhD, CEO of VASTox said: "I am pleased to announce Darren'sappointment to the Board of VASTox. He has made a significant contributionacross a number of areas in the business over the past year. Together with therecent announcement of Richard Storer as Chief Scientific Officer, we arebuilding a high calibre Executive team to accelerate value growth." VASTox plc confirms that, save for the above; there are no other matters underparagraph (g) of Schedule 2 of the AIM rules to be announced. - ends - For more information please contact: VASTox Steven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443910 Darren Millington, Chief Financial Officer Citigate Dewe Rogerson David Dible / Mark Swallow / Valerie Auffray Tel: +44 (0)207 638 9571 About VASTox plc VASTox is a chemical genomics technology company that discovers and developsproprietary novel drugs and provides services to the pharmaceutical industry.The company's most advanced drug development programme is focused on developinga new treatment for Duchenne Muscular Dystrophy based on the up-regulation ofutrophin. A second drug development programme for Spinal Muscular Atrophy isalso progressing rapidly. VASTox has two additional programmes focused onosteoarthritis and tuberculosis that are expected to be out-licensed prior toentering the clinic. The company's technology platform, which uses zebrafish and fruitflies, has thepotential to dramatically decrease the time and cost of drug discovery anddevelopment. This is because using whole organisms allows it to carry out highvolume, high content screening that delivers data which is highly predictive ofthe efficacy and toxicity of potential drug compounds in humans. VASTox isgrowing revenues based on marketing its unique technology platform and itschemistry expertise. VASTox was formed in January 2003 from the University of Oxford, by some of theUK's foremost scientists who have taken a highly creative approach to theproblems involved in drug discovery and who have a proven record in deliveringtechnological excellence. The company listed on the AIM market of the LondonStock Exchange in October 2004. Further information about the company may be accessed at the VASTox website: www.vastox.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 include (factorsincluded 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 ExchangeRelated Shares:
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