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12/09/2007

Antisoma’s preliminary results for the year ended 30 June 2007

12 September 2007, London, UK: Cancer drug developer Antisoma plc (LSE: ASM, USOTC: ATSMY) today announces its preliminary results for the year ended 30 June 2007. These results have been prepared under International Financial Reporting Standards (‘IFRS’) as adopted for use by the European Union.

Highlights of 2006/2007

Major licensing deal with Novartis for ASA404 (formerly AS1404)

• Total potential milestones of USD $890 million
• Near-term payments of USD $100 million ($75 million received to date)
• Option to co-commercialise product in US
• Phase III lung cancer trial expected to begin enrolment in early 2008

Positive clinical trial data for ASA404

• Five-month survival gain in randomised lung cancer trial
• Supportive data from second lung cancer trial
• Positive PSA response findings in prostate cancer

Positive data and progress on AS1411

• Cases of tumour shrinkage in renal cancer patients
• Lack of serious side-effects in phase I trial
• Randomised phase II trial started in acute myeloid leukaemia (August 2007)

Financial summary

• Upfront payment of £38.2 million (USD $75 million) received from Novartis
• £26.3 million raised in oversubscribed fundraising
• Cash and liquid resources of £61.4 million at 30 June 2007 (2006: £14.9 million)
• Full-year net loss of £9.8 million (2006: £16.9 million)

Commenting on the results, Glyn Edwards, CEO of Antisoma, said: “This has been a breakthrough year, with positive phase II data on ASA404 and a major licensing deal with Novartis. Their investment in ASA404 has the potential to generate significant returns for Antisoma’s shareholders. We are now applying the same rigorous approach we used in developing ASA404 to our promising aptamer drug AS1411, giving us another opportunity to create substantial value. With phase II data anticipated for AS1411 and plans to add further promising assets to our pipeline, we look forward to another exciting year.”

Enquiries:

Antisoma plc		+44 (0)7909 915 068
Glyn Edwards, Chief Executive Officer Raymond Spencer, Chief Financial Officer Daniel Elger, Director of Communications
Buchanan Communications (UK enquiries)		+44 (0)20 7466 5000
Mark Court/Lisa Baderoon/Rebecca Skye Dietrich
The Trout Group (US enquiries)		+1 646 378 2900
Brian Korb/Seth Lewis

Except for the historical information presented, certain matters discussed in this preliminary announcement 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 this preliminary announcement. 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.

View the preliminary results in PDF format (97 KB, opens a new browser window)

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