DUBLIN, IRELAND--(Marketwire - January 21, 2008) -
Alltracel Pharmaceuticals Plc. Company Update
-- Strong 2007 provides platform for growth in 2008 --
-- Forms Contract Research JV with Venn Life Sciences, Canada --
Monday, January 21st 2008, Dublin, Ireland and London, UK
Alltracel Pharmaceuticals Plc., ("Alltracel", or "the Company"), (AIM:AP.L), the
Healthcare Innovation Group focused on the Wound Care, Oral Care, Dermal Health
and Cardiovascular Health markets, today provides a Company update:
Consumer Products
- Further to the acquisition of Synpart AG, a specialist oral care and
sports bandage supplier, in August 2007, the process of integrating this
business with Synpart Ltd (formerly Westone Products Ltd), the Company's
specialist Oral Care subsidiary and existing consumer Wound Care business, has
progressed very well. This division is now poised for an increased level of
growth in 2008.
- The Company is in late stage discussions to in-license its first
technology for commercialisation in a variety of consumer healthcare product
sectors. The technology has already been secured for evaluation within the Oral
Care Sector to determine its effectiveness for delivering antimicrobial
solutions in a number of product formats.
Healthcare Technology
- As previously reported, the successful completion of a concept
development agreement led Alltracel's Nanopeutics subsidiary to sign a
collaborative technology development agreement with ConvaTec, a world-leading
manufacturer of ostomy and wound care products. The Company continues to deliver
on the technical milestones required under the contract and the successful
conclusion of the agreement may lead to an exclusive royalty bearing license and
supply agreement between the two companies. The collaborative technology
agreement is funded by ConvaTec.
- In July 2007 Alltracel's Nanopeutics subsidiary signed a licensing
agreement for its technology with HemCon Medical Technologies, Inc., the
haemorrhage control market leaders in military markets. A key feature of this
partnership is the targeted delivery of products to market in 2008. We are
pleased to report that we are on track to meeting this milestone.
Dermal Health Technology
- A key technology focus for the Company during 2007 was the development
of PhytopeuticsTM, a range of dermal health solutions derived from Alltracel's
patented technology targeting the functional cosmetic/cosmeceuticals market.
This has culminated in the successful conclusion of the six month co-funded
development programme with a major global leader in the functional cosmetic/
cosmeceutical ingredient market. The Company expects to make a partnering
announcement in the first half of 2008.
Cardiovascular Health Division
- Alltracel has progressed partnering discussions with an Irish based
global leader in the functional ingredients market and expects to enter into a
proof of concept study focused on a specific product in their portfolio.
Alltracel Healthcare Services (AHS)
- Alltracel today announces a contract research joint venture with Venn
Life Sciences Canada to form Venn Life Sciences Holdings Limited (VLS). VLS has
been established to create an organisation with a North American and European
presence, structured to service the considerable global demand for clinical
trial services.
- Venn Life Sciences, Canada was formed in 2007 to serve Canadian and
North American pharmaceutical, biotechnology and medical device companies in
expediting their clinical research requirements for all phases of clinical
development.
- AHS was set up by Alltracel in 2007 to provide Scientific Research,
Clinical Trial & Development Services for healthcare companies seeking a step up
in the speed of their healthcare innovation. Separately, the Scientific Research
unit of AHS will continue to provide its services to Alltracel under its
corporate partnerships and will call upon VLS for clinical trial support
services as required.
Tony Richardson, Chief Executive Officer commented:
"Alltracel has made solid progress in 2007 and we are well positioned for
further growth as we enter 2008. We are particularly pleased with the
acquisition of Synpart AG, a specialist oral care and sports bandage supplier.
The integration of Synpart has progressed very well during 2007 and we expect
the acquisition to significantly drive our revenue growth in 2008.
2007 also saw a number of technology and commercial breakthroughs in our
nanofibre specialist subsidiary, Nanopeutics, and the emergence of a significant
new opportunity in the cosmeceuticals market with the successful development of
Phytopeutics™, a patented range of dermal health solutions.
In addition, we are delighted to have entered into the joint venture agreement
with Venn Life Sciences, Canada. We believe that VLS will be an important
addition to Alltracel's capabilities in running efficient and, as required,
global clinical trials both on behalf of Alltracel's current and future
corporate partnerships across its divisions and on behalf of clinical trial
clients on an international basis.
We look forward to providing greater detail of our progress in our preliminary
results statement in early April 2008."
ENDS
For Further Information Contact:
Dublin: Karen Muldowney Alltracel: +353 1 235 2162 press@alltracel.com
London: Deborah Scott/John Dineen 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 commercial offices
in London, England and Cologne, Germany; 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, Dermal Health and Cardiovascular Health.
- Alltracel's specialist Oral Care subsidiary Synpart (
www.synpart.com)
with offices in the UK and Germany is the leading contract supply and
manufacturing partner for the European private label inter-dental market.
Synpart 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 Nanospider™ technology for the global
healthcare market.
- Alltracel Healthcare Services provides Scientific Research, Clinical
Trial & Development Services for Healthcare companies seeking a step up in speed
of Healthcare Innovation.
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.doc™ & Phytopeutics™ are trademarks of Alltracel Pharmaceuticals plc.
Nanospider™ and Nanopeutics™ are trademarks controlled by Nanopeutics
s.r.o.
This information is provided by RNS
The company news service from the London Stock Exchange