RNS Number:9121K
Alizyme PLC
09 May 2003


For Immediate Release                                       09 May 2003


                                   Alizyme plc

                       The Annual General Meeting : 2003

Alizyme plc (LSE:AZM), Cambridge, UK, 09 May 2003: At the Annual General Meeting
held today, all resolutions proposed at the meeting were duly passed.

Following the meeting, Dr Richard Palmer, Chief Executive Officer made the
following  statement:

"2002 was a pivotal year for Alizyme with significant progress being made in all
four of our key products. Importantly, it has highlighted the potential of our
pipeline, demonstrated the maturing  of the business and takes us closer to
unlocking value for our shareholders.

We obtained Phase II clinical trial results with COLAL-PREDTM and are currently
preparing Phase III registration trials in Europe. We moved renzapride into a
substantial Phase IIb clinical development programme. Similarly, the successful
preliminary demonstration of the target product profile of ATL-962 in its Phase
Ib programme justified the investment in a large Phase IIb clinical trial.
Finally we were able to complete the work necessary in Phase I for ATL-104,
enabling us to go forward and evaluate it in cancer patients in a Phase IIa
trial.

On the basis of the achievements of 2002, we expect 2003 to be a further year of
significant progress and newsflow. So far this year we have not been
disappointed.

In January we announced the successful #16.1 million fund raising. We were very
encouraged by the support from both existing and new shareholders, in what could
only be described as difficult markets conditions.

The strengthening of our balance sheet has two key advantages. It allows us to
maximize value for shareholders from the products under development and as we
continue discussions with potential partners, it will put us in a much stronger
position to secure financially attractive out-licensing deals. This latter point
is extremely important and is particularly relevant to ongoing negotiations on
our COLAL-PREDTM programme, where we are committed to achieving the best deal
possible for our shareholders, within this year.

Last month we announced successful preliminary data from our robust Phase IIb
clinical trial of renzapride in patients with constipation-predominant irritable
bowel syndrome (c-IBS). These results now allow us to prepare for Phase III
development, whilst initiating dialogue with potential licensing partners.
Importantly, these positive results substantially reduce the risk of this
programme for Alizyme. To date we have been very encouraged by the number of
enquiries we have received from potential partners and we would hope to conclude
a licensing deal on renzapride before moving into Phase III development around
the middle of 2004.

We anticipate further important milestones will be achieved during the remainder
of 2003, as by the end of 2003 we expect to have three products either in, or
progressing into, Phase III clinical development, with our fourth product moving
into Phase II.

Looking forward through 2003 and beyond, we will continue to look at new
strategic opportunities, with the objective of progressing Alizyme towards the
next stage of its corporate development.

                                      Ends

For further information, please contact:

Dr Richard Palmer, Chief Executive Officer
Mr Tim McCarthy, Finance Director
Alizyme plc                                          Tel No: + 44 (0)1223 896000

Lisa Baderoon
Buchanan Communications                            Tel No: + 44 (0) 20 7466 5000


Further information on Alizyme can be found on the Company's website:
www.alizyme.com

                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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