Interim Management Statement (7014G)
May 17 2011 - 1:00AM
UK Regulatory
TIDMATD
RNS Number : 7014G
Asterand PLC
17 May 2011
For Immediate Release 17 May 2011
Asterand plc
INTERIM MANAGEMENT STATEMENT
Asterand plc (LSE: ATD), a leading provider of human tissue and
human tissue-based services to pharmaceutical and biotechnology
companies engaged in drug discovery research, today issues its
Interim Management Statement.
Revenue for the period to 30 April 2011 is up over 30% on the
previous year, despite volatile trading conditions. Revenue was
driven by significant growth in the BioSeek business; not including
BioSeek, the rest of Asterand's business was flat on 2010.
At the end of the period, Asterand had cash resources of $5.1m.
The Company has re-financed the payment of consideration for the
BioSeek acquisition, and anticipates making a payment of $2.5m cash
to the former owners of BioSeek this month, as announced on 28
April 2011, together with our final results.
Martyn Coombs, Asterand CEO, commented:
"We are encouraged with growth in 2011 of over 30%. Going
forward, by successfully serving our customers' evolving needs for
more predictive human based solutions to drive their drug discovery
decision making, we are confident that the scalability of our
business model will provide long term value for shareholders."
Contacts:
Asterand plc
Martyn Coombs, Chief Executive Officer Tel: + 44 (0) 1763 211
600 /
+ 1 (313) 263-0960
John Stchur, Chief Financial Officer As above
Buchanan Communications
Lisa Baderoon / Mark Court / Isabel Podda Tel: +44 (0) 20 7466
5000
Daniel Stewart & Company plc
Antony Legge Tel: +44 (0) 20 7776 6566
Martin Lampshire Tel: +44 (0) 20 7776 6550
About Asterand
Asterand plc is a leading supplier of high quality human tissue
and tissue-based services. Our comprehensive approach to human
tissue and research services offers pharmaceutical, biotech and
diagnostic companies the unique opportunity to have one company
meet all of their human biomaterial needs along the continuum of
drug discovery and development. Our mission is to accelerate target
discovery and compound validation and enable pharmaceutical and
biotechnology companies to take safer and more effective drugs into
the market. For more information about Asterand, go to
www.asterand.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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