DUBLIN, IRELAND--(Marketwire - July 19, 2007) -
Alltracel releases 2007 AGM update
- Solid trading and continued technology and commercial breakthroughs -
- NanopeuticsTM subsidiary secures first license revenues under an
exclusive product and technology development agreement with Hemcon
Medical Technologies,Inc. -
- Announces the formation of a new division, Alltracel Healthcare
Services with expected revenue generation by Q4 2007-
Thursday July 19th 2007: Dublin, Ireland and London, UK
Alltracel Pharmaceuticals Plc., ("Alltracel", or "the Company"), (AIM:AP.L), the
Healthcare Innovation Group focused on the Woundcare, Oral Care, Dermal Health
and Cardiovascular Health markets, today announces its AGM trading update:
NanopeuticsTM -- NanospiderTM Technology for Healthcare
- In a separate release Alltracel announces that NanopeuticsTM has signed a
license revenue deal with HemCon Medical Technologies, Inc., the haemorrhage
control market leaders in military markets including U.S, U.K. and Germany.
This is a license bearing exclusive product and technology development
agreement focused on Chitosan- based NanospiderTM technology for advanced
woundcare applications. This entry into the military market is an exciting
step for Alltracel's NanopeuticsTM division and follows on from our
previously announced collaboration.
- The concept development nanotechnology development partnership with a
global leader in professional woundcare has concluded its first agreed stage
and further commercialisation discussions have now commenced as scheduled.
- Successful joint feasibility trials with market leading potential partners
in the consumer and industrial woundcare sectors (incorporating nano m.doc
TM) and blood filtration markets with NanopeuticsTM based products have been
completed in the past few weeks and partnership discussions have commenced.
Newly created Alltracel Healthcare Services (AHS) - A Scientific Research,
Clinical Trial & Development Service for Healthcare Innovation
- Alltracel has created Alltracel Healthcare Services (AHS) to provide
Scientific Research, Clinical Trial & Development Service for the Alltracel
Group. This division will also offer its services externally to healthcare
companies seeking an external step up in speed of innovation, technology
development and commercialization.
- Led by ex Icon PLC senior manager Conor Walshe AHS is expected to be
revenue generating by Q4 2007.
Specialist Oral Care and Consumer Woundcare
- Over the past six months, we have undertaken a strategic review of
Alltracel's Oral Care and Consumer Woundcare businesses and as a result of
this review we have taken the decision to combine these two complementary
divisions together. By combining these divisions under the Westone division,
Alltracel's woundcare sales will benefit from utilising the Westone sales
and distribution channels and this will also provide a platform for future
growth potential.
- This new division continues to deliver a solid trading performance in line
with expectations.
- The company remains in the process of assessing opportunities to expand
its oral care business including M&A and licensing opportunities.
PhytopeuticsTM - Dermal Health Solutions for Cosmeceuticals
- The company has successfully developed PhytopeuticsTM, a patented range of
dermal health solutions for the functional cosmetic/cosmeceuticals market
and has an agreement for a six month co-funded product development programme
which has now commenced with a major global leader in the functional
cosmetic/cosmeceutical ingredient market.
Cardiovascular Health
- Following formulation breakthrough with its patented bioactive technology
Alltracel has developed and tested seven final product delivery formats.
Among those with the greatest market potential are its chewable and soluble
formats.
- A new clinical trial program has been redesigned to accommodate the new
final product formats to maximize the output and efficiency and this trial
is now underway.
- Regulatory approvals processes have now begun for the bioactive
technology.
- Further negotiations with a North American based nutritionals company to
establish a specialist alliance to enter the global nutrition market with a
range of patented CVH functional food and bio-active technologies continues
and we will update the market on this by year end
Tony Richardson, Chief Executive Officer commented;
"2007 to date has delivered solid trading and continued technology and
commercial breakthroughs and we remain confident of continued profitability
improvements for the full year 2007.
Our efforts to transition the business to more of a licence and technology
transfer business model rather than one focussed on product revenue alone
continues, driven by technological breakthroughs on our patented PAGA, m.docTM
and NanopeuticsTM technology platforms and new partnership agreements across our
key business sectors.
In particular, in the first half of 2007 we saw a number of major technology and
commercial breakthroughs in our nanofibre specialist subsidiary NanopeuticsTM,
continuing solid trading performance at Westone our specialist oral care
business and the emergence of a significant new opportunity in the
cosmeceuticals market with the successful development of PhytopeuticsTM, a
patented range of dermal health solutions.
I am particularly pleased with today's announcement regarding our NanopeuticsTM
team securing the Chitosan product and technology development agreement with
HemCon with whom we have worked closely on product and concept testing since the
beginning of this year and we now look forward to building a commercially
profitable and exciting business with them. The nanofibre potential in both
consumer woundcare and blood-filtration systems has been established following
the successful product feasibility testing phases which have recently completed.
These recent significant technology breakthroughs from product testing and trial
work across our divisions with partners along with our ongoing partner
development work in the Cosmeceuticals and Cardio Vascular Health sectors have
presented Alltracel with another efficient and profitable revenue opportunity
which are now moving to capture through the establishment of Alltracel
Healthcare Services (AHS).
AHS will provide Scientific Research, Clinical Trial & Development Service for
Healthcare companies seeking a step up in speed of Healthcare Innovation. Based
at NovaUCD, the Innovation and Technology Transfer Centre of University College
Dublin, AHS is led by ex Icon PLC senior manager Conor Walshe and directed by
Alltracel's Chief Scientific Officer Dr. Keith Real with guidance by the
Alltracel Scientific Advisory Board. As well as providing in house trial,
testing and laboratory services for all of Alltracel business units,
subsidiaries and relevant partnerships, AHS will also extend this service to
external companies in the pharmaceutical, medical and healthcare technologies
sectors.
Westone, our Oral Care business continues to grow product revenue and we have
decided to integrate the consumer Woundcare m.docTM business within this trading
division as well as upgrade our technology development resources on Oral Care
via AHS. This combination will result in the formation of a broader personal
care products group.
We believe these organizational changes will both build and drive total company
product revenue more efficiently and more profitably, as well as enable faster
technology development.
We will continue to evolve the business model with the objective of continued
improvements in profitable revenue growth and that Alltracel remains at the
forefront of healthcare innovation in our chosen markets. Our investment in
technology development and people will be underpinned by appropriate bolt-on
acquisitions and we will maintain our focus on profitable growth."
For Further Information Contact:
Dublin: Karen Muldowney Alltracel: +353 1 235 2162 press@alltracel.com
London: Deborah Scott Financial Dynamics: +44 207 831 3113
Alltracel, (AIM: AP.L) (
www.alltracel.com) the Healthcare Innovation Group is
focused on taking proprietary technology from research right through to
commercialisation in the global healthcare market.
Alltracel Pharmaceuticals Plc., ("Alltracel") was founded in 1996 and is a
public company which listed on London's Alternative Investment Market in July
2001.
With corporate headquarters in Dublin, Ireland; Alltracel has a commercial
office in London, England; R&D subsidiary in the Czech Republic and
manufacturing facilities in Shenzhen, China. Alltracel also has a wide network
of research, development and manufacturing partners in Europe, Asia and North
America.
Alltracel operates via two main divisions Alltracel Healthcare Group and
Alltracel Healthcare Technologies:
Alltracel Healthcare Group is focused on the commercialisation effort behind
proven innovative technologies and services for the global healthcare market.
Alltracel Healthcare Group has a range of stake holdings, joint ventures and
wholly owned business units operating in a variety of healthcare categories
including Wound Care, Oral Care, and Cardiovascular Health.
- Alltracel's specialist Oral Care subsidiary Westone (www.westoneproducts.com)
is headquartered in London, England and is the leading contract supply and
manufacturing partner for the European private label inter-dental market.
Westone also partners with a number of leading oral care brands internationally.
- Alltracel's specialist Nanotechnology subsidiary Nanopeutics s.r.o.
(www.nanopeutics.net) is headquartered in Liberec in the Czech Republic and is
dedicated to the commercialisation of NanospiderTM technology for the global
healthcare market.
Alltracel Healthcare Technologies specialises in innovation, research,
development and the deployment of proprietary technology in the global
healthcare market. Alltracel Healthcare Technologies has established a
substantial intellectual property portfolio with patents in a number of
healthcare applications areas such as Wound Care, Cardiovascular Health and Skin
Care.
m-docTM & PhytopeuticsTM are trademarks of Alltracel Pharmaceuticals plc.
NanospiderTM and NanopeuticsTM are trademarks controlled by Nanopeutics s.r.o.
This information is provided by RNS
The company news service from the London Stock Exchange