ANTISOMA RESEARCH LIMITED

Business Description

Antisoma was established as a biotechnology company specialising in the development of novel drugs for the treatment of cancer. In January 2011, the phase III trial of the Company's key AS1413 drug showed no benefit over standard therapy and further development of the drug was therefore discontinued. Following this, the Company announced with its interim results in February 2011, the intention to scale back operations in order to conserve cash and that the Directors were seeking a transaction to maximise value for shareholders from the Company's remaining product assets and its cash resources.