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Antisoma PLC (ASM.L) Awarded US Qualifying Therapeutic Discovery Project Grant Of USD 244K


11/8/2010 9:57:15 AM

LONDON and CAMBRIDGE, MA--(Marketwire - November 08, 2010) - Cancer drug developer Antisoma plc (LSE: ASM; USOTC: ATSMY) today announces that the Company's US subsidiary, Antisoma, Inc., has received a grant of USD 244,000 under the U.S. Government's Qualifying Therapeutic Discovery Project, a programme created as part of the Patient Protection and Affordable Care Act of 2010. The grant is to support the ongoing development of AS1413 (amonafide L-malate), Antisoma's novel treatment for acute myeloid leukaemia (AML).

Qualifying Therapeutic Discovery Project grants are awarded to projects that show a reasonable potential to result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions, reduce the long-term growth of health care costs in the United States, or significantly advance the goal of curing cancer within 30 years.

Dr Chris Smyth, VP, Clinical Operations at Antisoma, Inc., said: "We are pleased that the development of AS1413 has qualified for this recognition, and look forward to reporting the key phase III data on the drug in the near future."

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 Antisoma

Antisoma is a London Stock Exchange-listed biopharmaceutical company that develops novel products for the treatment of cancer. The Company has operations in London, UK and Cambridge, MA. Please visitwww.antisoma.com for further information about Antisoma.


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This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Antisoma plc via Thomson Reuters ONE


Enquiries:

Antisoma plc
+44 (0)7909 915 068

Glyn Edwards
Chief Executive Officer

Daniel Elger
VP, Marketing & Communications

Buchanan Communications
+44 (0)20 7466 5000

Mark Court
Jessica Fontaine


Read at BioSpace.com


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