Ergomed plc Trading Statement (2961U)
January 17 2017 - 1:00AM
UK Regulatory
TIDMERGO
RNS Number : 2961U
Ergomed plc
17 January 2017
Ergomed to report very strong 2016 revenue growth and order
backlog;
Poised for significant clinical milestones in 2017
Year on year revenue increase of 26%
Significant corporate milestones achieved
Development of Haemostatix products on track
London, UK - 17 January 2017: Ergomed plc, (LSE: ERGO or
'Ergomed') a UK-based company dedicated to the provision of
specialised services to the pharmaceutical industry and the
development of new drugs, provides a business update for the year
ended 31 December 2016. The company will provide further details on
the year-end performance at its 2016 Preliminary Results at the end
of March.
Highlights
-- Unaudited 2016 revenues expected to be approximately GBP38
million - up 26% from GBP30.2 million in 2015
-- Approximately GBP42 million of contracts were won in 2016 up 50% from GBP28 million in 2015
-- Exited year with backlog of contracted future work of approximately GBP70 million
In addition to a strong revenue performance, Ergomed recorded a
number of important corporate milestone events in 2016,
including:
-- An institutional share placing, raising gross proceeds of GBP9.2 million (May 2016)
-- Acquisition of Haemostatix, a company focused on developing
innovative products for surgical bleeding (May 2016)
-- Acquisition of O+P and GASD, respectively CRO and
biostatistics specialist companies, both based in Germany (June
2016)
-- Acquisition of PharmInvent, a leading European
pharmacovigilance and regulatory services business (Nov 2016)
-- An agreement with Asarina AB for the co-development of
sepranolone for the treatment of PMDD (Nov 2016)
Dr Miroslav Reljanovic, CEO of Ergomed plc said: "I am proud of
our achievements in 2016. Ergomed delivered another year of very
strong top-line growth while succesfully executing our strategy of
broadening both our Services offering and product development
portfolio.
"In the next few months we look forward to clinical milestones
from two of our co-development partners; lorediplon Phase II
results in insomnia and also Zoptrex Phase III results in
endometrial cancer. Development of our own proprietary products are
also on track and we will initiate a Phase IIb study for our lead
product PeproStat(TM) in the first half of this year from which we
expect headline data to be available early in 2018.
"With a significant proportion of revenue already secured and a
series of upcoming development milestones, 2017 should be another
exciting year for Ergomed."
- ENDS -
Enquiries:
Ergomed plc Tel: +44 (0) 1483
503205
Miroslav Reljanovic (Chief
Executive Officer)
Stephen Stamp (Chief Financial
Officer)
Numis Securities Limited Tel: +44 (0) 20
7260 1000
Michael Meade / Freddie Barnfield
(Nominated Adviser)
James Black (Joint Broker)
Stifel Nicolaus Europe Limited Tel: +44 (0) 20
7710 7600
Jonathan Senior (Joint Broker)
FTI Consulting - for UK enquiries Tel: +44 (0) 20
3727 1000
Simon Conway / Mo Noonan /
Natalie Garland-Collins
MC-Services - for Continental Tel: +49 211 52925222
European enquiries
Anne Hennecke
About Ergomed
Ergomed plc is a profitable UK-based business providing drug
development services to the pharmaceutical industry and has a
growing portfolio of co-development partnerships. It operates in
over 50 countries.
Ergomed provides clinical development, trial management and
pharmacovigilance services to over 100 clients ranging from top 10
pharmaceutical companies to small and mid-sized drug development
companies. Ergomed successfully manages clinical development from
Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular
expertise in oncology, neurology and immunology and the development
of orphan drugs. Ergomed believes its approach to clinical trials
is differentiated from that of other providers by its innovative
Study Site Management model and the use of Study Physician Teams,
resulting in a close relationship between Ergomed and the
physicians involved in clinical trials.
As well as providing high quality clinical development services,
Ergomed is building a portfolio of co-development partnerships with
pharma and biotech companies which share the risks and rewards of
drug development. Ergomed leverages its expertise and services in
return for carried interest in the drugs under development. Lastly,
Ergomed recently acquired a pipeline of proprietary development
products for haemostasis in surgical settings. For further
information, visit: http://ergomedplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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