Acquisition

RNS Number:5959I
Cytomyx Holdings PLC
11 March 2003


Cytomyx Holdings Plc ("Cytomyx" or the "Company") announces the acquisition from
Cytocell Limited ("Cytocell") of goodwill and certain assets employed in the
development, manufacture and sale of kits utilising DNA probe technology. These
products, which are based on Fluorescent In Situ Hybridisation technology, ("the
FISH Business") are used for the detection of  chromosomal disorders and genetic
abnormalities linked to certain cancers.

The initial consideration for the FISH Business is #100,000, which is to be
satisfied by the payment to Cytocell of #50,000 in cash and the allotment to it
of 6,666,667 ordinary shares of 0.1p each in the Company.  In addition, a
deferred consideration is payable of an amount equivalent to 2.5 per cent. of
the net revenues generated by the FISH Business in the three years following
completion of the acquisition.  The deferred consideration is capped at
#150,000. For the year ended 31 October 2002 the turnover attributable to the
FISH Business was #1,066,000.

Bill Mason, chairman of Cytomyx, is a director of Cytocell and as such, has
taken no part in the board of Cytomyx's deliberations regarding the transaction.
The directors of Cytomyx, save for Dr Mason, consider, having consulted with
the Company's nominated adviser, Corporate Synergy PLC, that the terms of the
transaction are fair and reasonable insofar as Cytomyx's shareholders are
concerned.

Commenting, Chief Executive Mike Kerins said "The acquisition of the FISH
business from Cytocell is a valuable addition to our growing product portfolio
and is in line with our strategy of growing a substantial life sciences product
and services business. There is already proven demand for the Cytocell FISH
technology and we believe that we can develop this further using our
technological capabilities in this area".


Contact:- Cytomyx
Karen Chandler-Smith
Tel: [phone]
Fax:[phone]


Cytomyx
6-7 Technopark
Cambridge
CB5 8PB
UK
email: [e-mail]
Web: www.cytomyx.com



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