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Consort Medical agrees partnership and invests in Precision Ocular

Mon, 22nd Feb 2016 16:51

(ShareCast News) - Consort Medical has made a £3.3m equity investment for a 13.7% stake in retinal therapeutics specialist Precision Ocular and agreed a development and manufacturing partnership. London-based Precision Ocular has developed retinal treatments that are designed to access specific small areas of the eye in order to provide unique drug distribution to tissues specifically involved in retinal diseases.Using the expertise and device manufacturing capabilities of Consort's Bespak and Aesica divisions, the collaboration agreement aims to accelerate the development, scale-up and industrialisation of Precision Ocular's products."We believe Precision Ocular's proprietary drug products and drug delivery system has the potential to be a platform technology with broad applicability," Consort said. The drug delivery system is engineered to more effectively delivery drugs to specific locations in the eye, reducing side-effects and minimising the frequency of treatment for certain groups of patient.The Precision team is developing treatments for prevalent retinal diseases, including age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO), uveitis and cystoid macular edema (CME).Consort's investment is alongside Imperial Innovations, Hovione and NeoMed in what was a £13.5m funding round. The fully-listed company will make an initial £2m investment for a 12.2% shareholding that will be increased in later second tranche.As it will draw on the skills and expertise of both subsidiaries, Consort chief executive Jon Glenn said the partnership was "an important demonstration of the value of our recently announced single solution for device and drug combinations"."Further it extends our competencies into the ocular therapeutic area in line with our stated strategy."Analysts at broker N+1Singer said it looked an interesting deal, "but won't move the dial in the short term - commercial revenues are still at least 3-5 years away".
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3 Jan 2017 08:10

Consort Medical splutters as BAT stubs out Voke programme

(ShareCast News) - British American Tobacco has terminated an agreement with Consort Medical over the manufacture of nicotine inhalers for its Voke development programme. Consort, which said it was in "constructive dialogue" with BAT's Nicovations arm and product developer Kind Consumer over the fut

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6 Dec 2016 08:18

Consort Medical posts good growth in first half

(ShareCast News) - Single source drug and delivery device company Consort Medical announced its interim results for the six months to 31 October on Tuesday. The London-listed firm said group revenue increased to £144.9m from £135.5m, representing underlying growth of 2.0% and reported growth of 6.9%

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25 Nov 2016 09:07

Consort Medical appoints new CFO

(ShareCast News) - Consort Medical, a global provider of manufacturing solutions for drugs, announced that it has appointed Paul Hayes as group Finance Director of the Vitec Group. Hayes is taking over the position of chief financial officer from Richard Cotton as well joining the board as executive

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27 Oct 2016 07:45

Consort Medical Welcomes Cimzia Autoclicks Launch On NHS

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14 Oct 2016 12:23

Consort Medical's Bespak inks new agreement

(ShareCast News) - Consort medical, a global single source drug and Delivery device company (CDMO), has announced that its Bespak division has entered into an agreement with a biopharmaceutical company. Bespak manufactures drug delivery devices for pharmaceutical partner companies including respirat

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19 Sep 2016 09:07

Consort Notes European Nod For Bespak Technology-Using Product

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7 Sep 2016 08:43

Consort Medical signs agreement with AstraZeneca

(ShareCast News) - Consort medical, a provider of advanced technology for drugs, has signed a new contract with pharmaceutical giant AstraZeneca for the supply of its Bespak respiratory devices. AstraZeneca and Bespak have agreed to enter into a multi-year agreement for the scale-up and supply of Be

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7 Sep 2016 07:03

Consort Medical Sees Little Brexit Impact; Signs Deal With AstraZeneca

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23 Jun 2016 15:19

Director dealings: Derwent London CEO sells just ahead of Brexit vote

(ShareCast News) - Derwent London chief executive John Burns has sold £1.5m of the FTSE 250 real estate investor's shares in the week just before the EU referendum which could seriously lift or undermine the company's shares. In Wednesday's sale, which comes two days before results for Britain's ref

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17 Jun 2016 09:29

Numis places Consort Medical 'under review'

(ShareCast News) - Consort Medical's shares were put 'under review' by Numis after the company reported its full year results. The pharmaceutical device frim on Thursday reported full year earnings before interest and tax rose 47.6% to £37m as revenues gained 49.8% to £276.9m, driven by a strong per

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16 Jun 2016 14:52

Consort Medical's annual revenues rise as a product launch is delayed

(ShareCast News) - Consort Medical, a pharmaceutical device company, revealed higher full year profits on Thursday due to organic growth and an acquisition. Revenues rose 49.8% to £276.9m from £184.8m the previous financial year. Bespak, the company's drug device manufacturing subsidiary, continued

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16 Jun 2016 07:37

Consort Medical Profit Doubles As Progress Made On DEV610 Programme

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9 Jun 2016 15:04

UK Earnings, Trading Statements Calendar - Next 7 Days

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5 Apr 2016 08:32

BROKER RATINGS SUMMARY: Liberum Upgrades Babcock To Hold From Sell

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