Cyclacel Acquires the Assets of Fluorescience Limited

DUNDEE - 13 September 2000 - Cyclacel Limited, the Dundee-based cancer therapeutics company, announced today that it has acquired the assets of Fluorescience Limited, a Leeds-based fluorescence assay technology company.

The all-cash acquisition includes equipment, intellectual property rights and the Fluorescience trademark. Under the terms of the acquisition the Leeds laboratory has been closed down and the Fluorescience science staff are relocating to Cyclacel's research and development centre in Dundee. Financial terms were not disclosed.

Fluorescience technology encompasses a range of proprietary assays, many of which are in the kinase field, using state-of-the-art signal technology. The assays complement Cyclacel's own extensive assay battery and enhance Cyclacel's drug discovery capabilities. Fluorescience assay technology will also contribute to the exploitation of drug targets arising from Polgen, Cyclacel's cancer genomics division in Cambridge, UK. Polgen's library of over 100 cancer genes, implicated in the regulation of cell division or mitosis, addresses several families of drug targets, such as proteases, protein kinases and microtubule-associated proteins.

Spiro Rombotis, Chief Executive of Cyclacel said: "This acquisition fulfils part of our strategy of expanding our assay technology as we continue to build a world-class drug discovery company. We were impressed with the scientific calibre and dedication of Fluorescience staff and are delighted to welcome them to Cyclacel. The transaction was completed within three months after it was brought to our attention demonstrating the ability of our management team to react rapidly to acquisition opportunities."