Celadon Pharmaceuticals Regulatory News (CEL)

26 Sep 2008 07:00



STOCK EXCHANGE ANNOUNCEMENT

FOR RELEASE: 7.00am - Friday 26 September 2008

CELSIS INTERNATIONAL PLC

("Celsis", "the Company" or "the Group")

PRE CLOSE TRADING UPDATE

26 September 2008: Celsis International plc, the life sciences products and laboratory services company, today announces an update on trading prior to the commencement of its close period.

The Company has made solid progress in the first half of the year broadly in line within the Board's expectations for revenue and profit growth for the six months ended 30 September 2008.  Celsis also remains on track to meet the Board's full year expectations in delivering increases in both revenues and profits, as the markets for its products, particularly in its core businesses continue to expand.

The Company's two core products businesses - Celsis Rapid Detection, which provides testing systems to more rapidly detect microbial contamination, and Celsis In Vitro Technologies (Celsis IVT), which provides in vitro testing products to accelerate drug development, have seen a strong second quarter building on good performances in the first quarter.  Both businesses are expected to finish the first half with double digit revenue growth.

The Celsis Rapid Detection division had a healthy increase in the number of instrument placements and experienced strong consumable reagent sales across all market segments. The Rapid Detection division continues to expand its presence in the pharmaceutical and consumer product industries as the focus on cost savings remains intense among its growing customer base.

The Celsis IVT products group, which provides in vitro liver cell products to the pharmaceutical industry to reduce the time and cost of drug discovery and development, has benefited from strong growth in the first half across its key product lines, with companies continuing to increase their use of Celsis IVT's products to help streamline their screening of drug compounds. Growth in Europe and North America has been strong, and Celsis IVT's business continues to expand in Asia and Latin America as both multinational and local pharmaceutical companies increase their research capabilities in these markets.  

The Company's services businesses - Celsis Analytical and Development Services, which provide outsourced laboratory services to the pharmaceutical industry, have seen a slower first half and are expected to complete the half slightly down against last year's H1 performances. Both the Analytical and Development Services businesses continue to focus on expanding existing and generating new contracts, and explore further cross-selling opportunities with their respective business development teams. The Company also continues to review all opportunities to best deliver long-term shareholder value from these businesses. 

Celsis will announce its interim results for the six months ended 30 September 2008, on Wednesday 12 November 2008. There will be a presentation to analysts on the day at 9.30am, held at Financial Dynamics, Holborn Gate, 26 Southampton Buildings, London, WC2A 1PB. 

Jay LeCoque, Chief Executive Officer of Celsis, commented:

"Celsis has seen a solid start to the year, benefitting from strong performances in our Rapid Detection and In Vitro Technologies products businesses. Overall, we remain on track to meet our expectations for the year and are confident that our business strategies in place will drive the growth of the combined Celsis Group. In addition, with the sustained strengthening of the Company's balance sheet, we continue to evaluate new acquisition opportunities to expand our growing business portfolio."

Notes to editors

Celsis International plc

Celsis International plc is a leading international provider of innovative life science products and laboratory services to the pharmaceutical and consumer products industries. Each Celsis division has the capacity to deliver substantial time and cost savings to its customers, in addition to ensuring product quality and safety for consumers. Celsis' extensive client base includes many of the world's leading pharmaceutical and consumer products companies. The Company is listed on the London Stock Exchange (CEL.L).

Celsis Rapid Detection division utilises proprietary enzyme technology to develop and supply diagnostic testing instruments and consumables for the rapid detection of microbial contamination in pharmaceutical and consumer products. These rapid testing systems provide significant economic value by reducing the time it takes to test and release raw materials, in process and finished goods to market. 

Celsis Analytical Services division provides cost effective outsourced laboratory testing services to pharmaceutical companies. Its comprehensive service offerings include a full spectrum of laboratory services from drug development and discovery to analytical chemistry and biological sciences to stability storage and testing. 

Celsis In Vitro Technologies (Celsis IVT) employs proprietary expertise in hepatocyte (liver cell) technology to supply in vitro testing products to the pharmaceutical industry. Celsis IVT's consumable testing products screen drug compounds for liver toxicity early in the drug discovery process, thereby reducing the time and cost of further development or trial on those compounds which will not be properly metabolised by the human liver. 

Further information can be found on its website at www.celsis.com.