18 October 1999

ChemOvation signs Japanese agent

ChemOvation is pleased to announce that they have signed a marketing agreement with Summit Pharmaceuticals International (SPI) (Tokyo, Japan). Under the terms of the agreement, SPI will act as representative to promote and sell ChemOvation's combinatorial chemistry products and services to the Japanese market.

ChemOvation, a recent entrant to the drug discovery arena, markets a range of innovative compound libraries to give the strongest-possible lead-generating potential. The company also offers characterisation services and outsourcing of chemistry for small-to-medium sized enterprises.

SPI, a subsidiary of Sumitomo Corporation, specialises in the introduction and arrangement of alliances with Japanese companies for therapeutics, diagnostics and medical devices. It currently represents organisations including the Medical Research Council (MRC) in the UK, and American Type Culture Collection (ATCC) in the US.

Alan Stuttle, ChemOvation's CEO said, "SPI's extensive network of key discovery researchers in the Japanese pharmaceutical industry will prove invaluable to ChemOvation in establishing a foothold in this market. We look forward to a long and productive relationship."

Further Information:

Dr Keith Menear

ChemOvation Ltd
Foundry Lane
Horsham
West Sussex, RH13 5PX
United Kingdom

Phone +44 (0)1403 248844
Fax +44 (0)1403 248855
Email:keith.menear@chemovation.com
Website: www.chemovation.com