(ABH.L) Angel Biotechnology Holdings PLC Buy/Sell

RNS Number : 5828A Angel Biotechnology Holdings Plc 12 October 2009

12 October 2009

ANGEL BIOTECHNOLOGY HOLDINGS PLC

("Angel" or "the Company")

Angel and Materia Medica announce GMP Manufacturing Contract

Angel Biotechnology Holdings plc, (AIM: ABH) the biopharmaceutical contract manufacturer, is pleased to announce the signing of a fourth GMP Manufacturing contract with Materia Medica Holding, a leading pharmaceutical company in Russia. The contract, valued at circa £1.2 million, is for process development and GMP manufacture of specific antibodies. Over 90% of the value this contract will be invoiced over the next 18 months.

Commenting on the contract, Gordon Sherriff, Angel's Chief Operating Officer said: "Our relationship with Materia Medica continues to grow with the award of this fourth GMP manufacturing contract. We are very pleased to have been chosen and to have consolidated our position as the long-term manufacturing partner of this leading Russian pharmaceutical company. We have now been working with Materia Medica for over two years and in that time have worked closely with Materia Medica and the Medicines and Healthcare products Regulatory Agency (MHRA) to forge a clear regulatory path for it's products. Angel has to date contracted work with Materia Medica to a total value of circa £4 million. This is a clear reflection of Materia Medica's confidence in Angel's manufacturing and regulatory capabilities in the advanced biologics arena. We look forward to further contracts in the future to deliver Materia Medica's pipeline of EU licensed products.

Sergey Tarasov, of Materia Medica Holding R&D department, said: "We are delighted to award a further GMP contract to Angel. As Materia Medica's established manufacturer for our antibody based products, Angel provides a fully integrated service offering, with the necessary manufacturing and regulatory experience to allow licensing of our products in the EU. We look forward to continuing our relationship with Angel on future projects."

For further information, please call: Angel Biotechnology Holdings plc Tel: +44 (0) 131 445 6077
Gordon Sherriff - COO Tel: +44 (0) 7951 057016

Grant Thornton Corporate Finance
Philip Secrett, Colin Aaronson Tel+44 (0) 20 7383 5100

About Angel Biotechnology Holdings plc

Angel Biotechnology Holdings plc is a biomanufacturing company offering process development services and GMP manufacturing for advanced biologics, supporting biotechnology and pharmaceutical companies worldwide. Angel's principal activity is the manufacture and supply of materials for use in early stage drug development and pre-clinical studies, along with drug product and CMC documentation for Phases I, II and III clinical trials and the manufacture of licensed drugs or vaccines. Angel specializes in the provision of advanced biologics including autologous and allogeneic cell therapy products including stem cells and cellular vaccines, specific purified natural and recombinant proteins and bacteriophage. Angel is managed by a team with wide ranging experience in biopharmaceutical manufacture, gained in companies such as Glaxo, Johnson and Johnson, Serologicals Inc., PPL Therapeutics and Intercell Ag.

Angel was admitted to trading on AIM in November 2005. More information about the Company can be found at www.angelbio.com.

About Materia Medica Holding

OOO "NPF "Materia Medica Holding", founded in 1992, now is one of the top manufacturers of homeopathic drugs in the Russian Federation and CIS countries.

Materia Medica Holding is the 6th largest Russian pharmaceutical company by sales with a focus on OTC drugs production. It is one of the major companies operating in this segment of the Russian market.

Recent successful development of a novel class of antibody-based therapeutics switched the strategic priorities of the company to manufacturing of oral ultra-low doses of antibodies produced by homeopathic technology. Patented technology, proven efficacy and safety, favorable benefit/risk ratio are the key distinctive features of novel drugs. Currently the company manufactures and markets the drugs for the treatment of many unmet medical needs: anxiety, alcohol addiction, erectile dysfunction, viral infections, benign prostate hyperplasia, rheumatoid arthritis/osteoarthritis, chronic heart failure, allergy etc.

Further information at www.materiamed.com

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

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