27 May 2003

ChemOvation and Cancer Research Technology have entered into a collaborative agreement in the field of target validation drug discovery.

Under the terms of the collaboration, ChemOvation and CRT scientists will work closely together in an interdisciplinary team to fully exploit the integration of biology and chemistry. Financial details were not disclosed.

ChemOvation will support CRT by providing computational and medicinal chemistry services on CRT's biological targets. ChemOvation will also offer highly focused chemical libraries specific to the therapeutic target.

Dr Keith Menear, Director of Chemistry and Operations, ChemOvation Ltd commented, "This collaboration provides an exciting opportunity to evaluate a target validation on CRT's target. We are delighted to have the opportunity to work with Cancer Research Technology in our quest to provide small molecular drug candidates against this important protein target. We believe this collaboration with CRT will enable ChemOvation and CRT to accelerate research against this important therapeutic target".

Further Information:

Dr Keith Menear
ChemOvation Ltd
Foundry Lane
Horsham
West Sussex
RH13 5PX

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

Cancer Research Technology Limited:

Cancer Research Technology (CRT) is a specialist oncology-focused technology transfer and development company that aims to advance new discoveries in cancer research for the benefit of cancer patients. CRT is owned by the charity, Cancer Research UK. CRT works closely with cancer researchers and their institutes to protect the intellectual property arising from their research and to establish links with commercial partners. CRT facilitates the discovery, development and marketing of new cancer therapeutics and diagnostics.

Further information:

Cancer Research Technology Limited
Sardinia House
Sardinia Street
London WC2A 3NL
United Kingdom
Tel: +44 (0)20 7269 3640
Fax: +44 (0)20 7269 3641

www.cancertechnology.co.uk