RNS Number:7031H
Alizyme PLC
19 February 2003

Immediate Release                                               19 February 2003


   Not for release, distribution or publication in or into the United States,
                      Canada, Australia, Ireland or Japan


                                  ALIZYME PLC

                   RESULTS OF PLACING AND OPEN OFFER AND EGM


On 28 January 2003, Alizyme plc (the "Company") announced a Placing and Open
Offer of 57,542,499 new shares of 2 pence each ("New Shares") at 28 pence per
share to raise #16.1 million (#15.1 million net of expenses), of which
17,865,277 New Shares were placed firm with institutional investors and
39,677,222 New Shares were placed with institutional investors subject to
clawback to satisfy valid applications by Qualifying Shareholders of the Company
under the Open Offer.

The Open Offer to Qualifying Shareholders of 39,677,222 New Shares at 28 pence
per share closed at 3.00 pm on 18 February 2003. Applications were received in
respect of 20,809,124 New Shares, representing 52.4 per cent. of the New Shares
available under the Open Offer. This includes the 348,532 New Shares the
Directors of Alizyme agreed to take up under the Open Offer.

The remaining 18,868,098 New Shares and the 17,865,277 New Shares that were
placed firm (constituting a total of 36,733,375 New Shares), will be taken up by
new and existing institutional investors pursuant to the Placing by Nomura
International plc and Canaccord Capital (Europe) Limited. As part of the
Placing, 46,468 New Shares were placed firm with the Directors.

At the Extraordinary General Meeting held earlier today, the resolutions to
implement the Placing and Open Offer were duly passed. A further ordinary
resolution to amend the period of options granted under certain of the Company's
share option schemes and to procure the same amendment by the Company of the
Alizyme Therapeutics Limited Unapproved Share Option Scheme was also duly
passed.

Application has been made to the UK Listing Authority for the New Shares to be
admitted to the Official List and to the London Stock Exchange for admission to
trading.  It is expected that dealings in the New Shares on the London Stock
Exchange will commence at 8.00 am on 20 February 2003, following their admission
to the Official List of the UK Listing Authority and to trading on the market
for listed securities of the London Stock Exchange. CREST stock accounts are
expected to be credited on 20 February 2003 and definitive share certificates in
respect of New Shares are expected to be posted, where applicable, by 27
February 2003.

Enquiries

Alizyme plc                                              Tel.: 01223 896 000
Dr. Richard Palmer, Chief Executive Officer
Tim McCarthy, Finance Director

Nomura International plc                                 Tel.: 020 7521 2000
Charles Spicer
David Rasouly

Canaccord Capital (Europe) Limited                       Tel.: 020 7518 2777
Nigel Little

Buchanan Communications Ltd                              Tel.: 020 7466 5000
Lisa Baderoon



Nomura International plc is acting exclusively for Alizyme in relation to the
Placing and the Open Offer and is not advising any other person or treating any
other person as its client in relation thereto, and will not be responsible to
any person other than Alizyme for providing the protections afforded to its
clients nor for providing advice in relation to the Placing and the Open Offer
or the New Shares.

Canaccord Capital (Europe) Limited is acting exclusively for Alizyme in relation
to the Placing and is not advising any other person or treating any other person
as its client in relation thereto, and will not be responsible to any person
other than Alizyme for providing the protections afforded to its clients nor for
providing advice in relation to the Placing and the Open Offer or the New
Shares.

The Directors of Alizyme are the persons responsible for the information
contained in this announcement.  To the best of the knowledge and belief of the
Directors (who have taken all reasonable care to ensure that such is the case)
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.

This announcement does not constitute an offer to sell, or the solicitation of
an offer to subscribe for, the New Shares in any jurisdiction in which such
offer or solicitation is unlawful.  The New Shares have not been, and will not
be, registered under the US Securities Act of 1933 (as amended), under the
securities laws of any state of the US or under the applicable securities laws
of Canada, Ireland, Australia or Japan. Accordingly, unless an exemption under
any applicable law is available, the New Shares may not be offered, sold,
transferred, taken up or delivered, directly or indirectly, in the US, Canada,
Ireland, Australia or Japan or any other country outside the United Kingdom
where such distribution may otherwise lead to a breach of any law or regulatory
requirement.


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