Source BioScience News

Source BioScience today provides its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency Rules, relating to the period from 1 July 2008 to 19 November 2008.

The Company is pleased to announce the opening of its new DNA sequencing and genotyping facility based at University College London ('UCL').

The Company is pleased to announce an expansion of its distributor network for its Geneservice and Autogen Bioclear life science research products and services in the East Asian market.

Source BioScience is pleased to announce the addition of the Roche AmpliChip CYP450 test to its portfolio of diagnostic testing services.

Source BioScience will have a stand at the NCRI Conference in Birmingham next month, providing an ideal opportunity to network with a wide range of cancer specialists in both healthcare and academia.

There are 200 different types of cancer with 289,000 new cases diagnosed each year in the UK – 1 in 3 people will develop some form of cancer in their lifetime – so being able to respond efficiently and effectively to cancer treatment is a key priority in healthcare.

As a highly focused healthcare and biotechnology company offering expert, quality services and products to the healthcare, pharma biotech and life science research sectors, Source BioScience is at the forefront of many of the technologies which can offer precise diagnosis to help target the most effective treatment for a range of cancers. They also supply products and undertake work with academic institutions to help develop further our understanding of the role of DNA in the disease process.

The Commercial team, located on Stand 32, will be on hand to meet with anyone wishing to discuss how Source BioScience can help in the fields of diagnostic and molecular pathology. Should you wish to pre-book some time with a member of the team, please contact Roger Coombes, Head of Healthcare – roger.coombes@medical-solutions.co.uk.

At the Company's General Meeting held on 19 September, shareholders duly passed unanimously the resolutions put to the Meeting to both approve the cancellation of the Company's share premium account and grant authority to the Company to make market purchases of ordinary shares of the Company.


This approval by shareholders will be the subject of a Court hearing of application to confirm the cancellation of share premium account, scheduled for 29 October 2008, with an anticipated date on which the cancellation of share premium account becomes effective of 7 November 2008.

The Board of Source BioScience today announced that it is proposing that the Company cancel its share premium account in order to restructure the Company's balance sheet, subject to shareholder and court approval, to enable the payment of future dividends out of distributable profits and provide the flexibility for the Company to purchase its own shares, should circumstances and opportunity allow.

The Company today announced its interim results for the six months ended 30 June 2008.

Members of the Source BioScience Commercial team recently attended the 47th Annual Scientific Meeting of the BSCC.

With over 3,000 new cases of cervical cancer being diagnosed each year, cytology has become a rapidly developing area of pathology. Changes in technology, driven by the introduction of liquid based cytology and, more recently, by automated imaging & guided screening, represent a significant improvement to the speed and efficiency with which cervical cancer screening can be conducted. Even with the introduction of an HPV vaccine cervical screening will still be required.

Through its Medical Solutions™ Healthcare division, Source BioScience is at the forefront of providing both these new technologies - the SurePath™ liquid based cytology ('LBC') and FocalPoint™ located guided screening system - through its exclusive UK distribution agreements with BD/TriPath Imaging, Inc.

The Commercial team would be pleased to discuss how Source BioScience can help in the field of cervical screening. For further information please contact either wilma.anderson@medical-solutions.co.uk or adrian.jackson@medical-solutions.cu.uk.

The Company has announced the following changes to the Board of Directors.

Members of the Source BioScience Commercial and Medical teams recently attended the American Society of Clinical Oncology's (ASCO) 2008 Annual Meeting, held in Chicago.

As one of the world's leading professional organisations representing clinicians and surgeons involved with the diagnosis and treatment of cancer, ASCO offers a unique opportunity for networking across a multitude of oncology disciplines.

A key topic of the Meeting was "Molecular Diagnostics - Prognosis and Prediction". This is an extremely relevant area for Source BioScience, especially with respect to our Medical Solutions™ healthcare activities. Source BioScience offers a range of molecular diagnostic tests targeted at a range of cancers. Principle amongst these are the OncotypeDX™ and KRAS test.

Source BioScience is the exclusive UK distributor of the Genomic Health, Inc. OncotypeDX™ gene-based prognostic test for breast cancer. Source BioScience also offers the KRAS test, a "companion diagnostic" genetic test which indicates whether patients are unlikely to respond favourably to particular therapies for certain types of cancer.

There is growing understanding and appreciation of the impact that these tests can have on the treatment and outcomes for cancer patients and demand is steadily rising. Source BioScience is a leading provider of such cutting edge diagnostic and prognostic cancer testing in the UK.

For further details on these tests and their applications please follow these links to our website - OncotypeDX™ and KRAS.

Source BioScience, along with 100 other companies, recently exhibited at the 'Master Investor' in London, the UK's premier investment show, where quoted UK companies have the opportunity to network with potential investors. The Company shares were amongst those nominated as a "Hot Tip of the Year".

Source BioScience confirms that all resolutions put to the Annual General Meeting held on 5th June 2008 were duly passed by Shareholders.

Details of proxy voting on the resolutions put to Shareholders at the Annual General Meeting are available on the Company's website - www.sourcebioscience.com.

At the AGM the Chairman, Laurie Turnbull, delivered his annual statement, details of which are contained under 'More information'.

The Company today provides its first Interim Management Statement ('IMS') as required by the UK Listing Authority's Disclosure and Transparency Rules, relating to the period from 1 January 2008 to 13 May 2008.

The Company has been notified that Texas Holdings Limited nows holds a total of 11,070,418 ordinary shares of 2 pence each representing 5.43% of the issued share capital.

Laurie Turnbull, Executive Chairman of Source BioScience, is also Non-executive Chairman of Texas Holdings Limited.

The Board of Source BioScience plc today announces its unaudited results for the year ended 31 December 2007.

Further to the announcement made on 19 February (earlier news item below refers) the Company confirms that at its General Meeting held yesterday shareholders passed unanimously the resolution for the acquisition of Autogen Bioclear UK Limited

The Company announces that at its General Meeting held yesterday shareholders passed unanimously the resolution to change the Company name to Source BioScience plc from Medical Solutions plc.

The Board of Source BioScience is pleased to announce that it has conditionally agreed to acquire the entire issued share capital of Autogen Bioclear UK Limited for a total consideration of up to £6 million payable in cash.

The Board is pleased to announce that the Company is to distribute the TriPath Imaging, Inc. FocalPoint automated cytology screening system on an exclusive basis.

Cervical cancer is a major concern for many women in the UK, with over 3,000 new cases being diagnosed each year.

This automated screening technology represents a significant potential benefit to the speed and efficiency with which cervical cancer screening can be conducted, with the ultimate detection of abnormal cells, and the timely adoption of effective treatments.

Source BioScience is pleased to be appointed the exclusive UK distributor for this automated screening technology, through its partnership with BD/TriPath for whom it already acts as the exclusive UK distributor of the SurePath liquid based cytology (‘LBC’) system which is widely used for cervical screening in the UK.

The Company announces that it is proposing to change its name from Medical Solutions plc to Source BioScience plc.

The Board believes that the Company’s existing name no longer reflects the broad portfolio of activities of the group, nor the nature of its business, and that Source BioScience plc is a more appropriate name for the Company.

The change of name is conditional on shareholder approval and the Company is sending a notice to shareholders convening a general meeting for 10.00am on Monday 10 March 2008 at the offices of the Company at 1 Orchard Place, Nottingham Business Park, Nottingham NG8 6PX.

The Board is pleased to announce that the Company will be offering the Empire Genomics ACCUArray comparative genomic hybridization (“aCGH”) genotyping technology from its laboratories in Nottingham. The ACCUArray will be offered both as a service, as well as a product for use in the customers’ own laboratories.

This technology is a powerful tool in the identification of chromosomal abnormalities linked with a range of diseases and conditions such as certain cancers, autism and Alzheimer’s Disease, as well as a number of syndromes including Down’s Syndrome. It will have also have particular applications in children where there may be referred to a clinician with developmental abnormalities. This diagnostic test can identify whether those developmental conditions have an underlying genetic cause.

Source BioScience will be the exclusive UK service provider and distributor for this genotyping technology, through its partnership with Empire Genomics, Inc.

Source BioScience is pleased to announce that following a recent inspection by the Medicines and Healthcare products Regulatory Agency (MHRA), its Good Laboratory Practice (GLP) accreditation was reconfirmed in conjunction with additional accreditation for Good Clinical Practice (GCP).

The Company is also CPA accredited for healthcare laboratory work and licensed by the Human Tissue Authority.

These accreditations ensure that Source BioScience continues to deliver the highest quality service from its state of the art laboratories in Nottingham, Cambridge and Oxford and makes it the only company in the UK able to offer a one stop shop for a broad portfolio of analyses from tissue pathology to DNA sequencing and genotyping in a GLP, GCP and CPA accredited environment.

Notes

GLP accreditation provides clients with the assurance that Source BioScience is fully licensed to undertake regulatory studies and act as a reference laboratory for pharmaceutical companies seeking compliance with the principles of Good Laboratory Practice as set out by the OECD (Organisation for Economic Co-operation and Development). GCP accreditation provides further assurance that all regulatory studies involving human tissue are conforming to the principles of good clinical practice that are outlined in articles 2 to 5 in the EU Directive 2005/28/EC.

The Board is pleased to announce that the Company will be acquiring both the Illumina Genome Analyzer next generation DNA sequencing and the Illumina BeadStation genotyping platforms.

The Company will become the UK’s first commercial service provider for these leading edge systems, which it will be sourcing from Illumina, Inc.