VASTox progresses TB drug program

VASTox, a UK biotechnology firm specializing in the use of chemical genomics for drug discovery, has reported positive data from its tuberculosis program. VASTox researchers found that disrupting N-acetyltransferase, an enzyme found in Mycobacterium tuberculosis, leads to the death of this pathogen.

The company has identified compounds from its libraries that can inhibit NAT and is now optimizing each lead, after which selected molecules will undergo evaluation in animal models.

In a note to investors, Evolution Securities analyst Michael Aitkenhead said that, "whilst still early-stage, today's positive data is clear evidence the VASTox' TB program is making good progress. Looking forward, the company should move into preclinical studies in fourth-quarter 2007 and has stepped up commercial activities." He reiterated his "add" rating on the stock and a L1.65 target price.