CYX Cytomyx Hldgs

RNS Number:1486J
Cytomyx Holdings PLC
01 March 2005

For immediate release                                                                                       1 March 2005

                              CYTOMYX HOLDINGS PLC

                          ("Cytomyx" or "the Company")

                   Disposal of Cytocell Technologies Limited

Cytomyx Holdings plc (AIM: CYX), the leading provider of drug discovery products
and services, announces today that it has agreed to sell the business and assets
of its wholly owned subsidiary Cytocell Technologies Limited ("Cytocell") to a
consortium supporting some of Cytocell's existing management for an initial
consideration of #605,000 payable in cash.

The disposal of Cytocell, which develops DNA diagnostic products, will allow
Cytomyx to focus on its two chosen high-growth target markets in translational
medicine, exploring the link between genes and disease through the use of human
biomaterials, and in its ion channel screening technologies.

Under the terms of the sale agreement, the assets and liabilities of Cytocell
will be transferred to the purchaser although Cytomyx will receive a royalty for
four years on sales of certain products currently under development.

The proceeds from the sale of Cytocell, which achieved turnover of #883,000 in
the year to 30 September 2004, are expected to balance its book debt in Cytomyx'
accounts and generate cash for expansion of its core product offerings.

The financial results for Cytocell Technologies Limited for the year ended 30th
September 2004 were as follows.


Turnover                                           #883,697
Gross profit                                       #663,801
Net loss for the financial year                    (#197,822)
Net liabilities                                    (#281,599)

Mike Kerins, Chief Executive of Cytomyx, commented: "Cytocell is a good business
but it is no longer core to our strategy. Its disposal will allow us to invest
further in our chosen high growth markets.

We see great opportunities for our business in the emerging field of
translational medicine where pharmaceutical researchers are using human
biomaterials to validate new drug targets and provide a clearer understanding of
the effectiveness of experimental drugs in clinical trials. We are uniquely
placed with our biorepository of human tissue samples and associated
technologies such as tissue microarrays to become a preferred supplier to the
pharmaceutical industry of high value solutions that better inform their
decision-making in pharmaceutical development.

We are also continuing to invest in our world-leading ion channel technology
platform. We are continuing the development of our range of ion channel cell
lines and plan to extend our capabilities in this area through the introduction
of an important new screening service in the coming months."


For further information, please contact:
Cytomyx Holdings plc                                             01223 508191
Mike Kerins, Chief Executive

Buchanan Communications                                         020 7466 5000
Mark Court/Mary-Jane Johnson

The Wall Street Group                                         +1 212 888 4848
Ron Stabiner

Notes for editors

About Cytomyx Holdings plc

Cytomyx Holdings plc is a rapidly growing life science company based in
Cambridge, UK. Its three operating subsidiaries - Cytomyx Ltd, Clinomics
Biosciences, Inc. and Cambridge BioScience Ltd - develop and market a wide range
of products and services to the pharmaceutical and academic research markets.
Cytomyx is listed on the AIM market of the London Stock Exchange. For more
information please visit www.cytomyx-holdings.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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