Further Loan Agreement

PROTEOME SCIENCES plc

("Proteome Sciences" or "the company")


29 June 2007

FURTHER LOAN AGREEMENT


Following the release of the preliminary results for the year to the 31st
December, 2006 the company has entered into a further loan agreement with
C.D.J. Pearce, the Chief Executive of the company under which he has agreed to
increase the existing loan facility available to the company from £4m to £6m,
in order to provide additional working capital for the group.


The facility is on identical terms to the agreement signed on the 29th June,
2006, full details of which are also disclosed in the company's Report and
Accounts for 2006 which are being posted to shareholders today.


As with the previous agreement, the loan facility therefore carries interest at
2.5% above the base rate of Barclays Bank plc and in view of the size of the
loan facility, it has been agreed that security for the loan should be charged
against the company's patent portfolio up to the value of the loan outstanding
and that the loan should be convertible into ordinary shares of the Company at
the lower of market price on the date of conversion or the average price over
the lowest consecutive ten day trading period since the 29th June, 2006 (the
date on which details of the original loan agreement were disclosed).


The Directors of the Company, (with the exception of Mr. Pearce who in view of
his interest in the transaction, has taken no part in consideration thereof)
having consulted with its nominated adviser in relation to the loan facility
from Mr. Pearce, consider that the terms of this transaction are fair and
reasonable insofar as shareholders are concerned.

The provision of this facility should allow the Company to complete the
successful outlicencing of TMT® and to see it through to the revenue
anticipated from its biomarker portfolio, ProteoSHOP® activities and from the
warranty claim.

 

Ends

 
Notes to editors:

Proteome Sciences plc applies high sensitivity proteomics to identify and
characterise differential protein expression in diseases for diagnostic,
prognostic and therapeutic applications.  It has discovered blood biomarkers
principally for stroke, vCJD, BSE, brain damage, solid organ transplant
rejection and Alzheimer's disease. The main focus of its research currently
addresses neurological, neurodegenerative, oncology and cardiovascular
conditions.

In addition to its own proprietary biomarkers, Proteome Sciences has developed
ProteoSHOP® (Proteome Sciences High Output Proteomics), a toolbox that offers
high sensitivity and high throughput gel and gel-free proprietary technologies
for the identification and validation of potential biomarkers and drug targets,
including specialisation in membrane proteins and protein phosphorylation. 


The Company has developed a range of specialist reagents to improve the
performance and quantitation of protein separation and characterisation with
mass spectrometry, bioinformatics, statistics and pattern recognition. These
include Sensitizer®, PST®, qPST™ and TMT®.  Proteome Sciences has patent
allowances in the major global jurisdictions for isobaric tandem mass tags (TMT
®) for the manufacture and use of any type of isobaric mass tags.


Commercialisation is actively pursued across the portfolio of the Company's
programmes and technologies with licensing deals signed in biomarkers for
Stroke and TSEs and for ProteoSHOP®.


Proteome Sciences has its headquarters in Cobham, Surrey in the UK and has
laboratories at Kings College Hospital, London and Frankfurt Innovations
Zentrum (FIZ), Frankfurt. It employs 32 full time scientists in addition to its
corporate and business development staff, and has collaborative research
agreements with leading academic institutes. The Company is listed on the
Alternative Investment Market.

For further information please visit www.proteomics.com.


Enquiries:

Proteome Sciences plc

James Malthouse, Finance Director

Email: [e-mail]

Tel: [phone]

 

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Adrian Shaw                             

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Nominated Adviser

Teather & Greenwood

Gareth Price / Thilo Hoffman            

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