Celadon Pharmaceuticals Regulatory News (CEL)

26 Jul 2007 11:30

Celsis International PLC26 July 2007 CELSIS INTERNATIONAL PLC ("Celsis", "the Company" or "the Group") AGM Statement 26 July 2007: Celsis International plc, the life sciences products andlaboratory services company, will today hold its Annual General Meeting. DrJack Rowell, Non-Executive Chairman of Celsis, will make the following comments: "The year ended 31 March 2007 was a significant milestone for Celsis. Wecompleted the acquisition of In Vitro Technologies, now Celsis IVT, and alsodelivered another strong set of financial results with record revenue and profitgrowth. "Total revenue increased 43.3% to $47.4 million, with organic revenue up 15.1%to $38.1 million and Celsis IVT contributing $9.3 million since the acquisitionin July 2006. Profit before tax increased 20.1% to $8.7 million. "We have seen a strong start to the current financial year ending 31 March 2008,with all divisions continuing to follow their positive performance trends seenin the second half of the last financial year. The integration of Celsis IVT isprogressing ahead of plan and we see healthy growth from the new consolidatedgroup. "Our Analytical Services division, which provides outsourced laboratory testingservices, delivered an exceptionally strong year end, driven by excellentcustomer growth across all segments of the business. The order book remainsstrong and we are well placed to continue to deliver healthy increases in bothrevenues and profit as the markets for our products and services continue toexpand. "Our Rapid Detection division, which provides testing systems to more rapidlydetect microbial contamination, has had a good start to the year and continuesto grow since last year's first half results. We continue to invest in R&D toensure that Celsis remains at the forefront of rapid detection systems and lookforward to testing our new nucleic acid technologies with existing customers inthe coming year. "Our In Vitro Technologies division, which helps accelerate drug development byproviding in vitro testing products and development services, significantlyadded to our year end performance. This new Celsis division is performing wellunder our management structure as we focus on higher margin products and thehighest quality standards. The Development Services business unit, which is nowintegrated and managed under the Analytical Services division, continues todevelop to plan as it maximises cross-selling opportunities and operationalsynergies. "Today, we also announce that Dr Derek Pearce has stepped down from theCompany's Board of directors with immediate effect. Dr Pearce has served as anon-executive director of the Company since 1994 and on behalf of the board Iwish Derek well in his future endeavours and thank him for his commitment toCelsis over the last thirteen years. "Celsis now complies with the Board composition requirements of the CombinedCode regarding the independence of non-executive directors. "I would like to conclude by thanking our new and existing shareholders fortheir continued support and we look forward to providing increased shareholdervalue in the future." Enquiries:Celsis International plc Tel: 01223 598 428Jay LeCoque, Chief Executive OfficerJenny Parsons, Corporate CommunicationsFinancial Dynamics Tel: 020 7831 3113 Ben AtwellDavid Yates Notes to editors Celsis International plc Celsis International plc is a world leading provider of innovative life scienceproducts and laboratory services to the pharmaceutical, biopharmaceutical, andconsumer products industries through its three business areas; rapid detection,analytical and drug development services and ADME-Tox in vitro technologies.The company is listed on the London Stock Exchange (CEL.L). Each division of Celsis International plc has the capacity to deliversubstantial time and cost savings to its customers, in addition to ensuringproduct quality and safety for consumers. Using proprietary technology, theCelsis Rapid Detection division provides diagnostic systems for the rapiddetection of contamination. These systems provide significant economic value byreducing the time it takes to test and release raw materials, in process andfinished goods to market. Celsis Analytical Services division provides costeffective outsourced laboratory testing services to pharmaceutical andbiopharmaceutical companies. Its comprehensive service offerings include a fullspectrum of laboratory services from drug development and discovery toanalytical chemistry and biological sciences to stability storage and testing.Celsis In Vitro Technologies (Celsis IVT) supplies in vitro testing products tothe pharmaceutical and biotechnology industries. IVT's in vitro products screendrug compounds early in the discovery process, thereby reducing the time andcost of drug development. Further information can be found on its website at www.celsis.com. This information is provided by RNS The company news service from the London Stock Exchange