Mycograb(R) and cancer

Hsp90 is also a target molecule in a range of cancers of the breast, prostate,
colon and lung, Chronic Myeloid Leukaemia and melanoma. The epitope to which
Mycograb(R) binds in Candida is shared with that in human hsp90 and the extra
cellular presence of this in carcinoma of the breast suggests that this could be
a potential target for Mycograb(R). This would be part of a combinatorial attack
and in vitro data obtained within NeuTec points to possible drug combinations
which would improve clinical outcome, prevent the emergence of
chemotherapeutically resistant cancers, avoid the toxicity inherent in the use
of multiple agents and allow the use of existing agents at much lower doses to
achieve the same endpoints. NeuTec intends to seek a collaborative partner to
pursue the clinical development of Mycograb(R) for cancer indications.

The Directors intend to use part of the proceeds to the Placing and Open Offer
to pursue further studies and consolidate NeuTec's intellectual property rights
in this area.