FOSTER CITY, California, February 5, 2008 – Entelos, Inc. (LSE:ENTL), a leading life sciences company building predictive computer models of human physiology and “virtual patients” for drug discovery and development, today is updating the market ahead of its pre-close period for the six-month period ended 31 December 2007.
Trading has been in line with management expectations and as previously announced Entelos expects that 2007 revenues will be in line with the level reported for 2006 at year-end. The Company has good contract visibility and has cash and accounts receivables of $9.9 million as at 31 December 2007.
Since its interim report on 19 September 2007, Entelos announced expanding research in cardiovascular disease with Pfizer Inc., conducting additional research in diabetes with Johnson & Johnson Pharmaceutical Research and Development L.L.C., raising capital from Pfizer Ireland Pharmaceuticals and the Imperium Master Fund, repaying debt related to the acquisition of Iconix Biosciences, and initiating in silico research in rheumatoid arthritis with a new pharmaceutical customer, UCB Pharma.
Entelos’ in silico R&D and toxicology services, which include clinical trial simulations and predictive “virtual patient populations”, help to move more drugs forward through the complex R&D process by strategically selecting optimal patients, doses, clinical trial designs and drug combinations that are both effective and safe. In addition, the Company continues to strengthen its business development capability in both the US and Europe to increase penetration of major pharmaceutical companies and broaden its customer base to include biotechnology, cosmetics and other health-care related companies.
The management looks forward to providing further detail on the Company’s full-year performance and future prospects at the time of its preliminary results in April 2008.
