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18/02/2010

Antisoma reports half-year results

London, UK, and Cambridge, MA: 18 February 2010 Antisoma plc (LSE: ASM; USOTC: ATSMY) announces its interim financial information for the period ended 31 December 2009.

Highlights

Potential blockbuster ASA404 advancing with Novartis

  • Enrolment completed in first-line lung cancer phase III trial
  • First-line lung cancer phase III data expected in mid-2011 (announced today); Novartis plans filings in 2011
  • Enrolment ongoing in second-line lung cancer phase III trial
  • Plans announced for phase Ib/II trial in breast cancer
  • Investigator-initiated trials started in other cancers (announced today)

Novel blood cancer treatment AS1413 leads US commercial strategy

  • Positive final data reported from secondary AML phase II trial
  • Secondary AML phase III trial now over half enrolled (announced today)
  • Preparations underway for potential commercialisation in US
  • Antisoma plans first filings in 2011

Aptamer AS1411 continues to show potential

  • Clinical data suggest distinctive efficacy and safety profile
  • Renal cancer phase II trial provides new evidence of activity
  • Other indications prioritised over renal cancer for commercial reasons
  • Plans announced for phase IIb trial in AML

Financial highlights

  • Loss after tax of GBP 18.3 million (H1 2008: loss after tax of GBP 5.0 million)
  • Cash at 31 December 2009 of GBP 49.6 million (31 December 2008: GBP 52.7 million)
  • No revenues in this period (2008: GBP 5.5 million); recognition of GBP 19.7 million from oral fludarabine divestment expected in half-year ended 30 June 2010

Glyn Edwards, CEO of Antisoma, said: "We now have two drugs – ASA404 and AS1413 – that are well into pivotal phase III trials. Success with either drug will enable us to make a rapid transition into a company directly involved in product commercialisation and capable of generating recurring revenues based on product sales."

Eric Dodd, Antisoma's CFO, added: "We continue to manage our cash resources prudently and to focus our investment on key products with potential to create significant value for shareholders."

A webcast and conference call will be held today at 9.30 am GMT. The webcast can be accessed via Antisoma's website at www.antisoma.com and the call by dialling +44 (0)20 7075 1520 and using the participant PIN code 468563#.

A second conference call will be held at 2.00 pm GMT/9.00 am EST. Call numbers are +44(0)20 7075 1520 or from the US (toll-free) 1 866 793 4273; the participant PIN code for this call is 468563#.

A recording of the webcast will be available afterwards on Antisoma's website.

Enquiries:

Antisoma plc + 44 (0) 7909 915068
Glyn Edwards, Chief Executive Officer  
Eric Dodd, Chief Financial Officer  
Daniel Elger, VP, Marketing & Communications  
   
Buchanan Communications +44 (0)20 7466 5000
(All media enquiries)  
Mark Court, Lisa Baderoon, Catherine Breen  
   
The Trout Group +1 617 583 1308
(US investor enquiries)  
Seth Lewis  

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 Group'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.

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