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well there must be a reason for it?
interesting!
As announced in the company's preliminary results issued on October 16th, Epistem's collaborations with Becton Dickinson and Xcelris Laboratories include escalating annual volume requirements for units and assays with each contract capable of delivering revenues to Epistem in excess of $20m-30m per annum over the next three to five years. The company will require more working capital as its first regulated test on Genedrive for the tuberculosis market is expected to generate initial sales in the first quarter of 2013. Regulatory approval of the tuberculosis assay specific to the Indian subcontinent is expected in the first half of 2013.
Epistem, a biotechnology and personalised medicine company is to raise 4.3m pounds before expenses through a placing of approximately 793.4m shares at 545p a share. The new ordinary shares, which represent 8.9% of Epistem's issued share capital have been conditionally placed with existing and new institutional investors at a 4% discount to the closing mid-market price on December 6th. They'll hit the market on December 13th. The net proceeds of £4.2m will provide funds for the commercial launch of Genedrive, its new molecular diagnostic device as well as its first test for tuberculosis. Commenting on the placing, Matthew Walls, Chief Executive Officer of Epistem, said: "We are about to enter a new and exciting phase of growth for Epistem with the launch of Genedrive, our first healthcare/diagnostic product. We believe Genedrive can change the way diagnostics is delivered in 'near patient' settings by providing the 'gold standard' of DNA based test results at significantly reduced cost in a simple to use device form."
Consensus forecasts for the year ending June 30th 2013 are for a pre-tax loss of £270,000 on turnover of £6.98m.
Investec Asset Management has taken a 7.05 per cent stake in Epistem, a biotech firm working in the area of personalised medicine. Over the past three months the loss-making AIM-listed company, Epistem, has shot up approximately 50%. Earlier this month it reported steady full-year results, while detailing accelerating investment in a number of its core development programmes. Total sales of £5.6m (2011: £5.8m) were driven by a solid performance by Contract Research Services and strong growth in its Personalised Medicine division. The latter delivered more than 100% year-on-year growth, following collaborations with GlaxoSmithKline, Sanofi-Aventis and emerging sales of its Genedrive diagnosis machine. There has been ongoing investment in its Novel Therapies lead programme and its Diagnostics (Genedrive) programmes. This was the reason it gives for moving into a pre-tax loss of £720,000 from a profit of £357,000. A successful £2.7m cash placing, led to a strengthened cash balance of £4.7m at June 30th.
Biotechnology firm Epistem has delivered steady full-year results, while also accelerating investment in a number of its core development programmes. Total sales of £5.6m (2011: £5.8m) were driven by a solid performance by Contract Research Services and strong growth in its Personalised Medicine division. The latter delivered more than 100% year-on-year growth, following collaborations with GlaxoSmithKline, Sanofi-Aventis and emerging sales of its Genedrive diagnosis machine. There has been ongoing investment in its Novel Therapies lead programme and its Diagnostics (Genedrive) programmes. This was the reason it gives for moving into a pre-tax loss of £720,000 from a profit of £357,000. A successful £2.7m cash placing, led to a strengthened cash balance of £4.7m at June 30th. Consensus forecasts for the year ending June 30th 2013 are for a pre-tax loss of £270,000 on turnover of £6.98m.
Outlook Epistem continues to build on its scientific and technical heritage as it transforms into a diverse, technology leading personalised medicine group with the near term growth in product revenues which are now underpinned by our first significant and long term commercial contracts with world class partners. Against a backdrop of market uncertainty, Epistem remains vigilant, whilst increasingly positive about its future growth potential. Despite the challenging market conditions, each division continues to strengthen its technology and expertise. The Personalised Medicine division has seen a significant improvement in Biomarker growth over the past year, which together with our rapidly advancing molecular diagnostic platform GenedriveTM is expected to deliver accelerated revenue growth across the division in future years. The Contract Research Services division continues to build an international profile and reputation for its proprietary service models and enhance its relationship with the NIH under our US biodefence contract (3 years remaining of this 5 year contract). We anticipate a return to modest growth from this division in the current financial year. The Novel Therapies funded element of the drug discovery collaboration with Novartis was completed in 2011 and we continue to maintain our investment in the development of our identified hits/leads. Whilst the timing of license and development opportunities remains difficult to judge, we remain optimistic about the strength of our hit/lead programme. We are in discussions with a number of other collaborative partners in relation to the development of our regenerative medicine and oncology hits/lead portfolio. Epistem continues to refine its discovery and development technology to position itself as a world leader in therapeutic discovery in the field of epithelial stem cell regulation. Alongside continued strengthening of our divisional units and the commercial advance of our GenedriveTM molecular diagnostic product, we expect to see the Company significantly strengthen its financial performance over the coming year. I would like to thank the CEO for his support and leadership, the Board and our employees for their effort and commitment in driving Epistem's progress over the past year, as well as our investors whose on-going support has provided a stable platform for our continued growth. On behalf of the Board, I would also like to offer our thoughts and condolences to the family of Professor Chris Potten who died recently. Chris was a world-renowned scientist who pioneered stem cell research in Manchester and was regarded as the one of the world's most influential figures in his field. In 2000, he co-founded Epistem and we look forward to maintaining and developing the legacy that Chris created.
Chairman's Statement I am pleased to report major progress in a number of the Company's core development programmes and the acceleration of investment in our first diagnostic product in the results for the year ended 30 June 2012. I am also pleased to report the recent completion of the first high value commercial contract for our GenedriveTM platform with Becton Dickinson. This agreement coupled with the earlier reported Xcelris Laboratories agreement signals the beginning of a new and exciting phase of revenue growth for Epistem and its investors. Whilst market and trading conditions remain volatile across the healthcare sector, Epistem continues to differentiate itself through its diversified business model and advancing technologies whilst delivering increasing investor returns. Results Further details of the results for the period are covered in the Chief Executive Officer's review, but financially the year to 30 June 2012 saw the Company deliver revenues of £5.6m (2011: £5.8m). Based on this trading performance and the high levels of investment made in our Novel Therapies and Diagnostics (GenedriveTM) programmes, the Company moved from a prior year profit to reporting an after tax loss of £0.2m (2011: £0.4m profit after tax). Following the successful completion of the £2.7m cash placing in December 2011, cash reserves at the end of the period were £4.7m (2011: £3.6m).
Preliminary Results to the 30 June 2012 Epistem Holdings Plc (LSE: EHP), the biotechnology and personalised medicine company announces today its preliminary results for the year to the 30 June 2012. The 2011/12 financial year saw Epistem accelerate its investment in a number of its core development programmes, whilst also delivering a solid set of financial results. Highlights · Total sales of £5.6m driven by a solid performance by Contract Research Services and strong growth in our Personalised Medicine division · More than 100% year on year growth in the Personalised Medicine division revenues on back of collaborations with GSK, Sanofi-Aventis and emerging Genedrive™ sales · EU registration and preparations for launch of first major molecular diagnostic product (GenedriveTM) · Recent announcement of major international distribution agreement with Becton Dickinson in Tuberculosis for ROW territories and initial USD$1.0m milestone payment received post the year end · Announcement of Xcelris Laboratories (Indian and Indian Sub Continent) distribution agreement for Tuberculosis using GenedriveTM · Development and expansion of preclinical service offering in leukemia imaging and rheumatoid arthritis · Ongoing investment in Novel Therapies lead programme · £2.7m cash placing completed in December 2011 resulting in strengthened cash balance of £4.7m at 30 June 2012
http://www.investegate.co.uk/Article.aspx?id=201210160700047377O
Biotechnology firm Epistem Hldings said it had received the go-ahead to sells its new tuberculosis product in EEA member state markets. The firm said its Genedrive units provided a major advance in next generation molecular diagnostic testing. Epistem is now preparing regulatory submissions for India, which has the largest number of TB sufferers in the world.
Commenting on the successful registration of Epistem's first Genedrive™ test, Matthew Walls, CEO said "This is an important milestone for the Company as we move towards our first significant revenue stream in the commercialization of Genedrive™"
Epistem Tuberculosis test gains CE-IVD registration Epistem (London AIM:EHP), the biotechnology and personalised medicine company, is pleased to announce the registration of its rapid molecular test for Tuberculosis (TB) test as a CE Marked in-vitro diagnostic medical device (CE-IVD). The registration enables Epistem and/or its authorised representatives to place its TB test and Genedrive™units for sale in the EEA member state markets. Genedrive™ provides a major advance in next generation molecular diagnostic testing by providing a rapid (30 minute), low cost, simple to use 'Point of Care' device with high sensitivity and specificity. Genedrive™ has applications across a wide range of bacterial, viral and fungal and somatic mutation disease status. Genedrive™ will be targeted at providing 'gold standard' identification of Mycobacterium tuberculosis and antibiotic resistance testing and will be priced competitively with traditional less reliable methods of diagnosis such as microscopy and culturing. The World Health Organisation (WHO) has publicly recommended that nations incorporate new rapid molecular tests for tuberculosis into their disease testing programs. On the back of this CE-IVD registration, Epistem is now preparing regulatory submissions for India in advance of the anticipated launch of its first molecular TB test including patient assessment for antibiotic resistance towards the end of this year. India has the largest number of TB sufferers in the world, more than twice the number in China, which has the second highest infection rate. According to the WHO, every year 2 million new patients in India develop TB, with the highest incidence of fatalities occurring in remote rural areas.
http://www.investegate.co.uk/Article.aspx?id=201207050700059465G
The biotechnology and personalised medicine company announced a partership with Dr Matthew Hardman at the University of Manchester in which novel preclinical models for cutaneous wound healing developed within his laboratory will be transferred to Epistem. Dr Hardman is a world-leading expert in molecular and cellular aspects of pathological healing. Epistem and The University of Manchester have been awarded a Knowledge Transfer Partnership (KTP) grant from the Technology Strategy Board and Medical Research Council to optimise, validate and commercialise new preclinical assays for wound repair. A KTP Associate has been appointed to work within Epistem on the project. This partnership will allow Epistem which is experienced in commercialising new technologies to expand its existing range of wound healing models and to provide a broad, innovative service range
This is a FREE event Proactive Investors One2One Forums The directors of Rexahn Pharmaceuticals (AMEX: RNN), Asterand (LSE: ATD), Alliance Pharma plc (AIM: APH) and EpiStem Holdings Plc (AIM: EHP) will be presenting: Tuesday the 20th April 2010 - Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception. Details on the presenting companies can be found below. This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists. Register Here - http://www.sign-up.to/signup.php?fid=2015&pid=7163 If you have any problems registering or queries please email action@proactiveinvestors.com These are superb evenings set in a wonderful environment, and afford the rare opportunity for the private investor to meet the CEO's in an informal setting. Nearest tube stations are Green Park and Bond Street.
Here is a rare opportunity to hear a presentation, then meet the CEO of your company for an informal chat over refreshements afterwards! This event is set in a superb setting, and has a great atmosphere at the investor networking event aftwerwards, where you can meet and exchange views with fellow private investors, experienced investors, and city professionals. Proactive Investors One2One Forums The directors of Epistem (AIM: EHP), Access Pharmaceuticals (OTCBB: ACCP) and Biocompatibles (LSE: BII) will be presenting: Thursday the 3rd December 2009 Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception. Details on the presenting companies can be found below. This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists. Register Here : http://www.proactiveinvestors.co.uk/register/event_details/66 If you have any problems registering or queries please email action@proactiveinvestors.com The Chesterfield Hotel is a short walk from Green Park or Bond Street tube stations.
went from 270 open to 285 high point during day... stem cell research group signed a development deal with Novartis to identify new drug targets + therapeutics across a variety of disease areas.... Epistem will get $4 million up front and research funding for two years. ...