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(ABH.L) Angel Biotechnology Holdings PLC Buy/Sell
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| Date/Time | Headline | Source |
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| Fri 07:30 | RNS |
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RNS Number : 7967C Angel Biotechnology Holdings Plc 20 November 2009
ANGEL BIOTECHNOLOGY HOLDINGS PLC ("Angel" or "the Company") Angel announces successful completion of its bi-annual MHRA inspection and continuation of its MHRA Manufacturer's licences Angel Biotechnology Holdings plc, (AIM: ABH) the biopharmaceutical contract manufacturer, is pleased to announce that following the regular two yearly audit of its GMP facility by the Medicines and Healthcare products Regulatory Agency ("MHRA"), both its Manufacturer's authorisation for Investigational Medicinal Products (IMP) and its Manufacturers' and Importers Authorisation (MIA) have been extended for a further two years. These two licenses combined enable Angel to provide integrated development and GMP manufacturing services from pre-clinical stage through to GMP manufacture of commercial product. Angel's offering provides a clear route to market for its clients' products and confers the benefits that come hand in hand with a long term relationship; significantly reducing risk in clients' product pipelines in terms of timelines and cost. Gordon Sherriff, Chief Operating Officer of Angel Biotechnology Holdings plc, said: "We are very pleased that our GMP licensed status continues following inspection by the MHRA. This is an endorsement of Angel's Operational and Quality management and demonstrates their expertise to ensure that the facility met the requirements of a rigorous inspection. Angel's GMP manufacturer's licenses are the cornerstone of our business and their continuation reflects our commitment to quality and service. Being one of the few CMOs in UK to be licensed to manufacture both Investigational Medicinal Products and products for commercial sale provides us with a strong differentiator in an increasingly competitive market place".
For further information, please call:
Angel Biotechnology Holdings plc Tel: +44 (0) 131 445 6077
Grant Thornton Corporate Finance Tel: +44 (0)20 7383 5100 Philip Secrett/Colin Aaronson
Steve Cox/Steve Waterman 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; these include autologous and allogeneic cell therapy products, stem cells, 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. This information is provided by RNS The company news service from the London Stock Exchange END
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| Thu 07:30 | RNS |
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RNS Number : 7381C Angel Biotechnology Holdings Plc 19 November 2009
ANGEL BIOTECHNOLOGY HOLDINGS PLC ("Angel" or "the Company") Angel to provide regenerative medicine development services Angel Biotechnology Holdings plc, (AIM: ABH) the biopharmaceutical contract manufacturer, is pleased to announce that is had been named as a contractor on three independent grants that have been awarded to three separate consortia of UK companies active in the field of regenerative medicine. Under the terms of each of the awarded grants, Angel will provide biomanufacturing services at commercial rates to the three consortia. Details of the consortia and the grants awarded have not been disclosed. Whilst the financial value of the grants to Angel is limited, Angel's position as a contractor to the three groups demonstrates that its expertise in cell-based therapies makes it the natural choice as a manufacturing partner in a field of product research and development that is currently receiving high priority from grant awarding bodies. Gordon Sherriff, Chief Operating Officer of Angel Biotechnology Holdings plc, said: "Angel Biotechnology is the only manufacturer within the UK to offer fully integrated process development services and cGMP manufacturing for cell therapy products. Angel has been involved in the GMP manufacture of cell based therapies and stem cells since 2005 and is at the forefront in the GMP manufacture of these emerging technologies. We have built a great deal of experience through commercial contracts and grant aided research to produce GMP compliant cell banks and cells for use in clinical trials with eminent development companies in the field. We are delighted that our expertise and experience have been acknowledged by these grant recipient companies naming Angel as a subcontractor for regenerative medicine services".
For further information, please call:
Angel Biotechnology Holdings plc Tel: +44 (0) 131 445 6077
Grant Thornton Corporate Finance Tel: +44 (0)20 7383 5100 Philip Secrett/Colin Aaronson
Steve Cox/Steve Waterman 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; these include autologous and allogeneic cell therapy products, stem cells, 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. This information is provided by RNS The company news service from the London Stock Exchange END
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| Wed 07:30 | RNS |
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RNS Number : 6612C Angel Biotechnology Holdings Plc 18 November 2009
ANGEL BIOTECHNOLOGY HOLDINGS PLC ("Angel" or "the Company") Appointment of Broker Angel Biotechnology Holdings plc, (AIM: ABH) the biopharmaceutical contract manufacturer, is pleased to announce the appointment of Matrix Corporate Capital LLP as the Company's broker with immediate effect. Commenting on the appointment, Dr Paul Harper, Angel's Executive Chairman said: "I am delighted to be working with the team at Matrix since their expertise in the pharma and biotech sector will be invaluable as the Company seeks to capitalize on its success in attracting new business"
For further information, please call:
Dr Paul Harper - Executive Chairman Tel: +44 (0) 7747 842446
Grant Thornton Corporate Finance
Matrix Corporate Capital LLP
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 activities encompass 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 including manufacture of marketed 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 & 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. This information is provided by RNS The company news service from the London Stock Exchange END
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| 20-10-09 | RNS |
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RNS Number : 0688B Angel Biotechnology Holdings Plc 20 October 2009 20 October 2009 Angel Biotechnology Holdings plc (the "Company") Exercise of warrants The Company announces that application has been made for the admission to trading on AIM of 2,142,857 ordinary shares of 0.1p nominal value ("Ordinary Shares") with admission expected to take place on 23 October 2009. The shares have been issued following the exercise of warrants at a price of 0.175p per share. Following the issue of these shares, the Company will have 1,446,302,008 Ordinary Shares in issue with voting rights. The Company holds no shares in Treasury.
For further information:
Dr Paul Harper, Chairman
Colin Aaronson
This information is provided by RNS The company news service from the London Stock Exchange END
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| 13-10-09 | RNS |
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RNS Number : 7193A Angel Biotechnology Holdings Plc 13 October 2009 TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
2. Reason for notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
3. Full name of person(s) subject to notification obligation:
4. Full name of shareholder(s) (if different from 3):
5. Date of transaction (and date on which the threshold is crossed or reached if different):
6. Date on which issuer notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Barclays Stockbrokers Ltd Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
This information is provided by RNS The company news service from the London Stock Exchange END
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| 13-10-09 | RNS |
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RNS Number : 7178A Angel Biotechnology Holdings Plc 13 October 2009 TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
2. Reason for notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
3. Full name of person(s) subject to notification obligation:
4. Full name of shareholder(s) (if different from 3):
5. Date of transaction (and date on which the threshold is crossed or reached if different):
6. Date on which issuer notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Barclays Stockbrokers Ltd Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
This information is provided by RNS The company news service from the London Stock Exchange END
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| 12-10-09 | RNS |
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RNS Number : 5828A Angel Biotechnology Holdings Plc 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
Grant Thornton Corporate Finance
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 END
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| 30-09-09 | RNS |
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RNS Number : 9101Z Angel Biotechnology Holdings Plc 30 September 2009
ANGEL BIOTECHNOLOGY HOLDINGS PLC ("Angel" or "the Company") Angel Biotechnology plc and Azellon Ltd / University of Bristol Sign GMP Manufacturing Contract Angel Biotechnology Holdings plc, (AIM: ABH) the biopharmaceutical contract manufacturer, is pleased to announce the signing of an agreement with Azellon and the University of Bristol. Under this agreement, Angel will provide development and GMP manufacturing services for Azellon's Phase I studies of its autologous cell therapy for meniscal repair. Financial details of the agreement were not disclosed. Gordon Sherriff, COO of Angel Biotechnology plc said "We are delighted to have been awarded this contract by Azellon. Cell therapies promise to address many unmet medical needs across many disease categories and with our expertise and proven track record; Angel is well placed to meet the highest standards required by Azellon's therapeutic stem cell programme. Azellon, as a new customer for Angel, complements our growing client base and highlights our ability to support a diverse range of cell therapy projects. We look forward to working with Azellon on this exciting application." Commenting on the contract, Troels Jordansen, Managing Director said "For any start-up company, capital investments in development and production laboratories are significant so outsourcing becomes an obvious alternative. After a thorough market analysis we are pleased to appoint Angel as our development and GMP production partner. Angel's in-house experience and facilities are second to none in the UK and we have great expectations".
For further information, please call:
Angel Biotechnology Holdings plc Tel: +44 (0) 131 445 6077
Grant Thornton UK LLP
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; these include autologous and allogeneic cell therapy products, stem cells, 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. Azellon Azellon is focused on developing stem cell therapy for the repair of avascular meniscal tears. Today orthopaedic surgeons are partially or fully removing the meniscus which over 4-6 years will lead to osteoarthritic changes in the knee joint. The technology behind Azellon was developed by Professor Anthony Hollander over the last 5 years and has already been proven highly successful in an in-vitro model. www.azellon-ltd.com. About the University of Bristol The University of Bristol is committed to combining its excellence in research and innovation with a vibrant enterprise culture. The University is working with government, industry and other partner organisations to encourage the growth of knowledge based businesses in the South West. In particular, Bristol has joined forces with the Universities of Bath, Southampton and Surrey to establish the SETsquared Partnership to encourage enterprise, build new businesses and work more effectively with industry. As research-intensive universities, these enterprise activities derive from their research base, although support is also available to entrepreneurs from outside the universities. With a combined research staff of 6,400 and research budget of £266 million, the resulting contribution to the UK 'knowledge economy' is far greater than could be achieved individually. The partnership offers:
www.bristol.ac.uk/research This information is provided by RNS The company news service from the London Stock Exchange END
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| 24-09-09 | RNS |
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RNS Number : 6030Z Angel Biotechnology Holdings Plc 24 September 2009 TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
2. Reason for notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
3. Full name of person(s) subject to notification obligation:
4. Full name of shareholder(s) (if different from 3):
5. Date of transaction (and date on which the threshold is crossed or reached if different):
6. Date on which issuer notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Barclays Stockbrokers Ltd Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
This information is provided by RNS The company news service from the London Stock Exchange END
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| 21-09-09 | RNS |
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RNS Number : 4103Z Angel Biotechnology Holdings Plc 21 September 2009 TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
2. Reason for notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
3. Full name of person(s) subject to notification obligation:
4. Full name of shareholder(s) (if different from 3):
5. Date of transaction (and date on which the threshold is crossed or reached if different):
6. Date on which issuer notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Barclays Stockbrokers Ltd Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
This information is provided by RNS The company news service from the London Stock Exchange END
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| 15-09-09 | RNS |
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RNS Number : 0894Z Angel Biotechnology Holdings Plc 15 September 2009
ANGEL BIOTECHNOLOGY HOLDINGS PLC ("Angel" or "the Company") Holdings in Company Angel Biotechnology Holdings plc, (AIM: ABH) the biopharmaceutical contract manufacturer, was notified on 14 September 2009 that EPhaG AS disposed of 41,470,000 ordinary shares of the Company of 0.1p each ("Ordinary Shares") on 10, 11 and 14 September 2009. As a result, EPhaG AS are interested in 182,900,000 Ordinary Shares representing 12.66 per cent. of the Company's total voting rights.
For further information, please call:
Grant Thornton Corporate Finance, Nominated
Adviser
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 at www.angelbio.com. This information is provided by RNS The company news service from the London Stock Exchange END
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| 14-09-09 | RNS |
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This news article is displayed preformatted as it may contain results tables
RNS Number : 9581Y
Angel Biotechnology Holdings Plc
14 September 2009
Angel Biotechnology Holdings Plc ("Angel" or the "Company")
Interims results for the six month period ended 30 June 2009
Angel Biotechnology Holdings Plc, (AIM: ABH) the Biopharmaceutical contract manufacturer, is pleased to announce its financial results for the six month period ended 30 June 2009.
Business highlights during period 1 January to 30 June 2009:
* Increase in revenues of 25% compared with same period in 2008.
* Signed Contracts with combined value in excess of £2.2M
* Pipeline continues to grow in quality and is the best we have seen to date
Gordon Sherriff, COO of Angel Biotechnology Holdings Plc, said:
"The first half of 2009 saw our recognised revenues grow 25% compared to the first half of 2008. We signed contracts with a combined value in excess of £2.2M with Materia Medica and ReNeuron. This has cemented the strong relationship we have with these important customers and emphasises the diversity of Angel's service offering and ability to deliver. Our Advanced Biologics service offering and business development strategy have yielded positive results through 2009. We have seen our pipeline of prospective business grow to the best it has been so far with projects at various stages of negotiation. The current global financial conditions have had an impact on the business, lengthening the time contracts take to sign. However, we are confident of a good conversion rate of prospects to customers and coupled with revenues from contracts signed earlier in the year, look forward to stronger results through the remainder of 2009 and into 2010".
For further information, please call:
Angel Biotechnology Holdings Plc Tel 0131 445 6077
Gordon Sherriff, COO Tel 07951 057016
Grant Thornton Corporate Finance, Nominated Adviser
Colin Aaronson Tel 020 7383 5100
Chairman's and Chief Operating Officer's Statement
Following the restructuring of Angel Biotechnology Holdings Plc ("Angel" or "the Company") in July 2007 the Company has focused its development and cGMP manufacturing services on advanced biologics. These include mammalian and microbial biologics, cell based therapies and bacteriophage. Our customers are mainly biotechnology and pharmaceutical companies, worldwide, with innovative discovery and development programmes based upon use of biomolecules, cells and viruses to address diseases where there is no satisfactory treatment or where the current treatments fail to deal adequately with the diseases process. These include, for example, novel treatments for MRSA and Clostridium difficile, antibodies and virus-based treatments for solid cancer tumours, and stem cells potentially capable of addressing a myriad of disease conditions ranging from stroke to regeneration of muscle following a heart attack. In this connection, Angel has successfully manufactured autologous cell therapy and stem cell materials to cGMP for clinical studies in the UK.
The drive towards cost-effective healthcare has stimulated the development of lower cost generic drugs and has made the development of new small molecule drugs that show modest performance improvements over their generic counterparts a higher risk strategy. Innovative new medicines that offer major performance advantages over existing therapies are more likely to gain reimbursement from healthcare payers. These are, in the main, advanced biologics of the type described above. Angel is well placed in terms of expertise, resource, regulatory understanding and licensed status to capitalise on this area of high added value medicines.
Whilst Angel is well placed to take advantage of the growth in biologicals-based drugs it has not been exempt from the general downturn in the manufacturing sector. This has been compounded by the fact that even large and well financed biotechnology businesses have cut back their research programmes or delayed spending on their early stage development activities. The current difficult investment environment, particularly in the UK, has resulted in companies deciding to conserve their cash resources until market conditions improve and share prices recover sufficiently to make replacement of those funds possible. The consequence, across the entire biomanufacturing sector, is that over the past 18-24 months, the time from a client's first approach to signing of a contract and initiation of a programme has increased from an average of six months to twelve months.
Sales in H1 2009 of £600,000 increased by £121,000, or 25%, over the same period in 2008. This yielded a H1 2009 pre-tax loss of £516,000 compared with a loss of £462k in the corresponding period in 2008. Whilst the increase in sales is modest, it represents a significant achievement against a difficult economic backdrop. The nature of our newer projects means that revenue recognition accounting principles will result in a major proportion of the revenue from the contracts from our Russian customer appearing in H2 2009 and H1 2010. The level of pre-tax losses reflects in part the need to increase personnel and facilities resources to accommodate the new programmes.
Business Development
The business development team have continued to work diligently to cover a major revenue gap left by the delay in receipt of anticipated orders from EPhaG . Whilst we now have a pipeline of prospects, the time taken to convert these into signed contracts is still longer than forecast. A conspicuous exception was the signing of a new contract and the significant extension of an existing contract with Materia Medica. Due to the nature and unusual structure of these contracts, a major part of the revenues will not be recognised until later in 2009 and into 2010. A contract for ReNeuron's clinical study (stems cells in stroke patients) was also signed. Together, these contracts were worth approximately £2.2 million.
The prospects for new contracts from new and existing customers in H2 2009 and into 2010 are good. We believe that our focus on high added value advanced biologics and reduced cost base is starting to work in our favour. Our pipeline continues to grow in quality and is the best we have seen to date with a number of new contracts at an advanced stage of negotiation as well as quotations for a number of new projects a number of which are with existing customers.
The current economic situation is generating a number of potential collaboration and acquisition opportunities where partially developed biopharmaceutical products cannot be progressed through lack of cash to sponsor the all-important first step of process development and production of the GMP product needed for pre-clinical and clinical studies. Angel reviewed a number of these in H1 2009 and has an on-going initiative, spearheaded by Gavin Clark, Gordon Sherriff and myself to identify value adding opportunities for Angel. We are currently in discussion with third parties but cannot say as yet whether these will be successful.
Outlook
The trading climate remains particularly difficult. Angel's lower cost base as a consequence of re-structuring, licensed status and ability to take on a wide range of project types places the Company in a good position to attract profitable business through competitive pricing and a track record of delivering technically challenging programmes to the satisfaction of our clients. Due to the structure of contracts we currently have, revenue recognition is necessarily delayed resulting in lower figures for H1 2009 than might have been expected with the value of business signed. This situation is expected to be rectified in H2 2009 and into 2010 as the revenues from these projects are recognised.
The business development activities are delivering a quality pipeline and we are making good progress at turning these into contracted manufacturing programmes. We are also working to realise the original strategy of the Company to be not only a best in class biomanufacturer but to have beneficial collaborative partnerships developing new medicines. In these circumstances, Angel would benefit both from commercialisation as well as revenues from manufacturing the product.
The Directors believe that Angel is well positioned to take advantage of the manufacturing opportunities that are emerging in this changing environment. Careful cost management, our comprehensive licensed status and the ability to deliver even the most challenging advanced biologics programmes makes Angel an attractive manufacturing and development partner. The current order book together with the pipeline of potential new business underpins our confidence for the future.
Dr Paul Harper
Chairman, Angel Biotechnology Holdings Plc
Gordon Sherriff
Chief Operating Officer, Angel Biotechnology Holdings Plc
Angel Biotechnology Holdings
Plc
Unaudited Income Statement for the half year ended 30 June
2009
Unaudited Unaudited Audited
Half year to Half year to Year ended
30-Jun-09 30-Jun-08 31-Dec-08
£'000 £'000 £'000
Revenue 600 479 953
Cost of sales -422 -254 -559
Gross profit 178 225 394
Net operating expenses -670 -632 -1,403
Restructuring costs - -48 -48
Operating loss -492 -455 -1,058
Finance income - 4 7
Finance costs -24 -11 -34
Loss before taxation -516 -462 -1,085
UK corporation tax - - -
Loss for the period -516 -462 -1,085
attributable to equity
shareholders
Loss per share (pence)
Basic and diluted 0.04 p 0.04 p 0.08 p
Angel Biotechnology Holdings Plc
Unaudited Balance Sheet as at 30 June
2009
Unaudited Unaudited Audited
As at As at As at
30-Jun-09 30-Jun-08 31-Dec-08
£'000 £'000 £'000
Non current assets
Intangible assets 1 1 1
Property, plant and equipment 384 354 406
385 355 407
Current assets
Trade and other receivables 233 343 199
Cash and cash equivalents 83 644 73
316 987 272
Total assets 701 1,342 679
Current liabilities
Trade and other payables -1,035 -799 -857
Finance leases -81 -120 -92
Loans -432 -426 -416
Deferred income -548 -197 -173
-2,096 -1,542 -1,538
Non current liabilities
Other non-current liabilities - -75 -40
Total liabilities -2,096 -1,617 -1,578
Net (liabilities) assets -1,395 -275 -898
Capital and reserves
Share capital 1,444 1,433 1,433
Share premium account 3,577 3,569 3,569
Profit & loss account -6,416 -5,277 -5,900
Equity shareholders' funds -1,395 -275 -898
Angel Biotechnology Holdings
Plc
Statement of changes in equity for the half year ended 30 June
2009
Share Total
Share premium Retained shareholders'
capital account earnings funds
£'000 £'000 £'000 £'000
At 31 December 2007 1,194 3,180 -4,815 -441
Share issue (net of costs) 239 389 628
Loss for the year -1,085 -1,085
At 31 December 2008 1,433 3,569 -5,900 -898
Share issue (net of costs) 11 8 19
Loss for the period -516 -516
At 30 June 2009 1,444 3,577 -6,416 -1,395
Angel Biotechnology Holdings
Plc
Unaudited Cash Flow Statement for the half year ended 30 June
2009
Unaudited Unaudited Audited
Half year to Half year to Year ended
30-Jun-09 30-Jun-08 31-Dec-08
£'000 £'000 £'000
Cash flows from operating
activities:
Operating loss -492 -455 -1,058
Amortisation and depreciation 24 20 41
(Increase) in receivables -33 -216 -72
Increase in payables 160 235 273
Increase in deferred income 374 57 34
Cash generated from operations 33 -359 -782
UK corporation tax received - - -
Interest paid -5 -4 -9
Net cash generated from 28 -363 -791
operating activities
Cash flows from investing
activities:
Interest received - 4 7
Purchase of non-current assets -2 -19 -91
Net cash used by investing -2 -15 -84
activities
Cash inflow/(outflow) before 26 -378 -876
financing
Cash flows from financing
activities:
Receipt of loans 16 403 20
Repayment of loans -10
Issue of convertible loan 383
Finance lease payments -52 -51 -113
Issue of ordinary share 20 628 627
capital
Net cash from financing -16 980 907
activities
Net increase in cash and cash 10 602 31
equivalents
Cash and cash equivalents at 73 42 42
beginning of period
Cash and cash equivalents at 83 644 73
end of period
Angel Biotechnology Holdings Plc
Notes to the Interim Financial Statements
1. General information
Angel Biotechnology Holdings Plc is a public limited company ("the Company") incorporated in the United Kingdom under the Companies Act 1985 (registration number 5383314). The Company is domiciled in the United Kingdom and its registered address is 50 Broadway, London, SW1H 0BL. The Company's ordinary shares are traded on the AIM Market of the London Stock Exchange ("AIM"). Copies of the interim report are available from the Companies website, www.angelbio.com. Further copies of the Interim Report and Annual Report and Accounts may be obtained from the address above.
The Company's principal activity is the manufacture and supply of bio-materials for use in clinical trials and at product launch.
2. Basis of preparation
The interim financial statements of the Company for the six months ended 30 June 2009, which are unaudited, have been prepared in accordance with the accounting policies set out in the annual report and accounts for the year ended 31 December 2008.
The financial information contained in the interim report does not constitute statutory accounts as defined in Section 240 of the Companies Act 1985. The financial information for the full preceding year is based on the statutory accounts for the year ended 31 December 2008. Those accounts, upon which the auditors, Baker Tilly UK Audit LLP, issued an unqualified audit opinion, have been delivered to the Registrar of Companies.
As permitted, this interim report has been prepared in accordance with the AIM Rules for Companies and not in accordance with IAS 34 "Interim Financial Reporting" therefore it is not fully compliant with IFRS.
The interim financial statements are presented in sterling and all values are rounded to the nearest thousand pounds (£'000) except when otherwise indicated.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 10-09-09 | AFX UK Focus |
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LONDON, Sept 10 (Reuters) - Angel Biotechnology Hldgs Plc:
CTX stem cell line ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 10-09-09 | RNS |
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RNS Number : 8087Y ReNeuron Group plc 10 September 2009 ReNeuron signs manufacturing contract for second-generation CTX stem cell product Guildford, UK, 10 September 2009: ReNeuron Group plc (LSE: RENE.L) today announces that it has signed a contract with Angel Biotechnology Holdings plc ("Angel"), under which Angel will manufacture clinical-grade lots of a second-generation formulation of ReNeuron's lead CTX stem cell line, for subsequent pre-clinical and clinical applications. The new formulation enables the CTX cells to be readily frozen down for shipping and storage, and thawed at the point of use. This process enables a greatly enhanced shelf life for the product and the capability to ship the cells for clinical and commercial application anywhere on the globe. In due course, the Company plans to utilise this enhanced CTX cell formulation for multi-centre, proof-of-concept clinical trials with its ReN001 stem cell therapy for disabled stroke patients, as well as for late pre-clinical testing and initial clinical trials with its ReN009 stem cell therapy for peripheral artery disease. Michael Hunt, Chief Executive Officer of ReNeuron, said: "We are pleased to have further extended our cell manufacturing collaboration with Angel. Our new CTX cell formulation has shown great promise during in-house development work and this contract marks an important step in realising ReNeuron's vision to develop a readily scalable and truly commercial stem cell-based therapeutic for wide-scale patient use." Enquiries:
Dr John Sinden, Chief Scientific Officer - ReNeuron
About ReNeuron ReNeuron is a leading, UK-based stem cell business. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need. ReNeuron has received regulatory and conditional ethical approvals to commence a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. The Company is developing stem cell therapies for a number of other conditions, including peripheral arterial disease and diseases of the retina. ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell® products for use in academic and commercial research. The Company's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com. 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 specialises in the provision of advanced biologics; these include autologous and allogeneic cell therapy products, stem cells, 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. This information is provided by RNS The company news service from the London Stock Exchange END
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| 10-09-09 | RNS |
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RNS Number : 8120Y Angel Biotechnology Holdings Plc 10 September 2009
ANGEL BIOTECHNOLOGY HOLDINGS PLC ("Angel" or "the Company") Angel and ReNeuron announce contract for manufacture of second-generation CTX stem cell product Angel Biotechnology Holdings plc, (AIM: ABH) the biopharmaceutical contract manufacturer, is pleased to announce the signing of a contract with ReNeuron Group plc ("ReNeuron"). The contract is to perform work to further develop and manufacture clinical-grade lots of a second-generation formulation of ReNeuron's lead CTX stem cell line, for subsequent pre-clinical and clinical applications. The value of the contract was not disclosed. Gordon Sherriff, Chief Operating Officer of Angel Biotechnology Holdings plc, said: "As ReNeuron's manufacturing partner, Angel will be manufacturing the stem cell clinical product for their previously announced first-in-man Phase I clinical trial for stroke. We are very pleased to have been chosen by ReNeuron to further develop and manufacture the second generation formulation of their CTX neural stem cell line for subsequent pre-clinical and clinical applications. Provision of the highest quality support for such advanced biological therapies is Angel's core competence and this contract firmly places Angel in the vanguard of this important and exciting development in medicinal therapy."
For further information, please call:
Grant Thornton Corporate Finance, Nominated
Adviser
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 at www.angelbio.com. About ReNeuron Group plc ReNeuron is a leading, UK-based stem cell therapy business. It is applying its novel stem cell platform technologies in the development of ground-breaking stem cell therapies to serve significant and unmet or poorly-met clinical needs. ReNeuron has used its proprietary, patented cell expansion technology to generate genetically stable neural stem cell lines. This technology platform has multi-national patent protection and is fully regulated by means of a chemically-induced safety switch. Cell growth can therefore be completely arrested prior to in vivo implantation. ReNeuron's clinically-tested cell encapsulation technology provides a method of protecting cells when transplanted, as well as reducing or eliminating the host immune response that might otherwise occur post-transplantation. ReNeuron has filed for approval to commence initial clinical studies with its lead ReN001 stem cell therapy for chronic stroke disability. There are an estimated 50 million stroke survivors worldwide, approximately one half of which are left with permanent disabilities. The annual health and social costs of caring for these patients is estimated to be in excess of £5 billion in the UK and in excess of US$50 billion in the US. In addition to its stroke programme, ReNeuron is developing stem cell therapies for Parkinson's disease, Huntington's disease, Type 1 diabetes and diseases of the retina. ReNeuron has also leveraged its stem cell technologies into non-therapeutic areas - its ReNcell® range of cell lines for use in research and in drug discovery applications in the pharmaceutical industry. ReNeuron's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by Millipore Corporation. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com. This information is provided by RNS The company news service from the London Stock Exchange END
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