The World Economic Forum Selects Cyclacel As Technology Pioneer for 2003

Dundee, UK - 8 November 2002 - Economic Forum announced the designation of 30 Technology Pioneers for 2003. Cyclacel, represented by its CEO Spiro Rombotis, has been selected as one of these Technology Pioneers.

Technology Pioneers are chief executives of companies that are developing and applying the most innovative and transformational technologies. Their cutting-edge work in fields such as proteomics, peer-to-peer renewable energy and Internet infrastructure represents an enormous resource of entrepreneurial talent. This dynamic group is at the forefront of change in a variety of technologies. In line with the Forum's commitment to improving the state of the world, the Technology Pioneers programme was established in 2000 to provide a new prospective on technological change. By bringing these chief executives together with scientists, academics, NGO's and forum members and partners, the Forum hopes to shed new light on how technology can be used to stimulate medical breakthroughs, create economic growth and enhance global communication. The Forum will also engage these entrepreneurs in dialogue on important global issues such as ethics, privacy and bridging the digital divide.

Cyclacel is a biopharmaceutical company that designs and develops small molecule drugs that act on key cell cycle regulators to stop uncontrolled cell division in cancer and other diseases involving abnormal cell proliferation. The Company's discovery engines integrate core cell cycle expertise with a large library of proprietary gene-based targets, state-of-the-art molecular biology and computational chemistry to rapidly deliver new drug candidates. Cyclacel has five research and development programs underway. Most advanced is CYC202, a Cyclin Dependent Kinase (CDK) inhibitor, currently in Phase Ib trials for cancer. CYC202 has also completed a Phase I trial in healthy volunteers and is being explored for use in glomerulonephritis, a disease of renal cell proliferation. The Company has a corporate alliance with AstraZeneca to develop a specific Cyclin Groove Inhibitor (CGI) for cancer.

Mr Rombotis said, "It is a privilege for Cyclacel to be chosen as a World Economic Forum Technology Pioneer, alongside biotech companies such as Vertex Pharmaceuticals and Myriad Genetics. Accepting this distinction on behalf of all Cyclacel employees reflects the importance of our work in the field of cancer and other serious diseases. By exploiting our understanding of the function of cell cycle proteins we strive to develop novel small molecule drugs that emulate the body's own anticancer mechanisms. The field of anticancer drug discovery is undergoing profound technological change and Cyclacel is increasingly acknowledged as a world leader. "