CURRENT TRADING

21st December 2007

In the company’s interim statement which was released on the 28th September, 2007 details were given about the introduction of isobaric tandem mass tags (TMT®) to the market and of the expected timing of the conclusion of outlicencing agreements for this product.

The trade launch for TMT® got underway in November and early indications are that the product has been well received.

Draft licence proposals for TMT® have been put to the company from a number of major players, and these proposals are now being finalised in order to conclude an exclusive licence agreement in the field of isobaric tandem mass tags.

The existing loan facility from Christopher Pearce, the Chief Executive of the group, has not yet been fully drawn down, and it has also been agreed that this facility may be increased, subject to any necessary regulatory approvals.

Against this background, the Board continues to view future prospects for TMT® commercialisation with increasing confidence, though it is possible that such licence negotiations may not now be completed until the early part of 2008, rather than at the end of 2007 as previously indicated.