AGM Statement
17/06/2009
Farnham
The Chairman, Gerry Brown, made the following comments:
“Biocompatibles has made a good start to the year.
The Oncology Products Division is trading ahead of Board expectations, as a result of stronger than budgeted sales of Drug-Eluting Beads and the benefit of sterling weakness. Despite challenging conditions in the Brachytherapy market, BrachySciences is showing good growth.
Our R&D Facilities have also made satisfactory progress. The GLP-1 Diabetes programme is on plan. The completion of the pre-clinical programme and initiation of the first clinical trials is expected in 2010.
The Board was pleased to pay the Company’s first dividend of 5p per share, on 22 May.
The Company reiterates its guidance on 2009 revenue in the range £22m to £24m and on closing net funds of £27m. The Board remains positive on the outlook for the rest of the year.”
All the resolutions placed before the meeting were passed. A summary of the proxy voting will be published on the Company’s website.
Copies of the resolutions passed at the meeting, other than those relating to the ordinary business, have been submitted to the UK Listing Authority and will be shortly available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.
-Ends-
Contact:
Biocompatibles +44 (0)1252 732732
Crispin Simon, Chief Executive
Ian Ardill, Finance Director
Biocompatibles International plc
Biocompatibles International plc is a leading medical technology company in the field of drug-device combination products.
The Oncology Products Division conducts the marketing of Biocompatibles’ approved oncology products, supplied from facilities in
Our R&D Facilities are engaged in licensing and in new product development, based on the company’s core drug delivery technologies. The Drug Delivery Division, in
Further information is available at www.biocompatibles.com
This news release contains forward-looking statements that reflect Biocompatibles’ current expectation regarding future events. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of Biocompatibles’ research strategy, the applicability of the discoveries made therein, the successful and timely completion of clinical studies and the uncertainties related to the regulatory and commercialisation processes.