BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Cyprotex (COTXF.PK) Release: Final Results for the Year Ended 31 December 2010


3/23/2011 11:33:54 AM

March 23, 2011 -- Cyprotex PLC (AIM:CRX), the preclinical ADME-Tox services company, today reports its final results for the year ended 31 December 2010.

Financial Highlights

- Revenues up 18.4% to £5.92 million (2009: £5.00 million)

- Revenues from UK operations up 7.5% to £5.38 million (2009: £5.00 million)

- Third year of profitability with operating profits at £0.22 million (2009: £0.46 million)

- Underlying EBITDA^, an indicator of cash generation, remains consistently strong up 1.3% to £0.77 million (2009: £0.76 million)

- Profit after taxation at £0.62 million (2009: £0.46 million)

- Earnings per share at 0.31 pence (2009: 0.26 pence)

^ excluding share-based payment charge and expensed acquisition costs

Operational Highlights

- Successful acquisition of US-based competitor Apredica, LLC, (‘Apredica’) on 6 August 2010

- Re-validation and re-launch of the CellCiphr™, High Content Toxicology technology following Apredica’s acquisition of certain assets and intellectual property of Cellumen, Inc. on 4 August 2010

- Acquisition enabled entry into the growing in vitro toxicology market, supported by a new toxicology laboratory in the UK - Expansion and replication of service offerings in both US and UK giving enhanced service standards to our customers - Product portfolio of 56 core products (2009: 29 core products)

- Reduced reliance on top five customers with 46 new customers, plus 67 new Apredica customers

Steve Harris, Chairman of Cyprotex PLC, said:

‘2010 was a transformational year for Cyprotex. The acquisition of Apredica helped to reposition the Company adding toxicology to our product offerings and securing an operational base in the important US market. With the opening of our new UK toxicology laboratory, we can now offer these services, alongside our established ADME offerings, in the UK and the US. We believe that Cyprotex is well positioned for growth as the industry emerges from recession and the new in vitro toxicology market grows.’

Download Cyprotex Final Results for year ended 31 December 2010

For further information:

Cyprotex PLC Tel: +44 (0) 1625 505 100 Dr Anthony Baxter, Chief Executive Officer John Dootson, Chief Financial Officer Mark Warburton, Chief Operating Officer and Legal Counsel ir@cyprotex.com www.cyprotex.com

Singer Capital Markets Limited (broker to Cyprotex) Tel: +44 (0) 203 205 7500 Shaun Dobson shaun.dobson@singercm.com Claes Spang claes.spang@singercm.com www.singerscm.com

Financial Dynamics Tel: +44 (0) 20 7831 3113 Ben Brewerton Ben Atwell Mo Noonan cyprotex@fd.com www.fd.com

Cyprotex PLC

Cyprotex is the world’s largest contract research organisation (CRO) specialising in ADME Tox, which is the analysis of the Absorption, Distribution, Metabolism, Excretion, and Toxicity properties of potential drugs, cosmetics, and agrochemicals. It is the only company in the world with in-house capabilities for both in vitro (test tube) and in silico (computer modelling) ADME Tox. Cyprotex was founded in 1999 and listed on the AIM in 2002. It has laboratories in Macclesfield, Cheshire, UK (near Manchester), and Watertown, Massachusetts, USA (near Boston), making it one of only three ADME Tox CROs with international operations.



Read at BioSpace.com

Cyprotex
 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES