Biocompatibles Share Discussion Threads

[tratante] 28/4/2005 22:17

What's going on with this share (apart from the fact its falling)!

[slapmeharder] 25/4/2005 12:08

whatS all this about Minsters and ELI? Did you miss the Church and Drugs bulletin board (it would probably be busier than this one!)?

:-)

[harry punter] 23/4/2005 17:14

bit of lateral thinking -i bet that minsters first major deal will be a joint venture with ELI LILLY --according to page nine of the recent placing document seems ELI LILLY need sabcomeline for tests it has been conducting with its own drug xanomeline ----it doesn't take a genuis to work out how much this deal is worth to minster and smithkline/glaxo

now why would ELI LILLY want to take little un-approved sabcomeline to test with one of its own drugs if they didnt think sabcomeline could win fda approval ---what price does this value minster shares 5p 10p 20p 50p --whatever the shares are potentially worth --minsters assets are worth a lot of money and our shares are absurdly undervalued when you draw comparrison to other stocks in the sector --and we also have smith kline glaxo to iron out any difficulties that may confront us over the coming months/years -- i am very bullish of minster and you should be as well imho

regards harry

[2bob] 13/4/2005 22:13

The answer was no which tells the value to BII must be very low.

[2bob] 12/4/2005 23:23

Will BII RNS this in the morning?


Medtronic Announces First Patient Enrollment in the ENDEAVOR IV Clinical Trial
Tuesday April 12, 1:11 pm ET

[tratante] 12/4/2005 13:52

Why is this still jumping around on small volumes, particularly in the face of recent good news. We should be beyond the tax year end effect now.

[spyder] 07/4/2005 18:54

It has been a while since I have posted, but I still follow this company and am fully invested.

The recent share price setback is a mild disappointment, but no more than that in my view. The falls from 270p to 230p at the end of March and 1st week of April were on the back of very small daily volumes. It looks to be simply a case of punters locking in 2004/5 capital gains before 5th April, an inevitability given the strong performance in the shares during the period. Indeed I believe the CE and his wife did exactly that with the recently announced director's sales, with Mr Simon splitting his sale to fall either side of the tax new year.
The fall was exaggerated by the absence of any buyers, but strong support seems to have been found around the 220-230p level with volumes picking up substantially.
Today's news of the Zomaxx trial commencing in the US with Abbott's strong commitment and expectations for the product should precipitate a renewed interest in the stock, perhaps some broker updates, and hopefully some further buying.

[2bob] 04/4/2005 09:23

Evolution note from 17th March

Add (remains as)

Further positive safety data from PRECISION
With the recent acquisition of CellMed, much of the potential excitement
surrounding today's results has probably already been and gone –
nevertheless, further data from the PRECISION trials appears positive.
Mkt Cap £104m Net Cash £45m
Biocompatibles (BII.L)
Results Price/Target: 266p/275p

Which brings our attention to the development of drug eluting beads for the
treatment of liver cancer. Today has seen Biocompatibles announce further
positive safety data from the ongoing PRECISION trials, which currently involve
PRECISION I (Barcelona) and PRECISION II (Hong Kong). Final data from each
study is expected 1H06 and 4Q05 respectively. One of the most significant
milestones for the product will revolve around gaining FDA approval which, as
we've previously noted, will require a full randomised controlled trial
(PRECISION IV) which Biocompatibles is currently planning. Management
anticipate recruitment for this trial will commence during 2005.

Further pipeline development, of course, will also centre on the recent
acquisition of CellMed. For further information, see our note of 04 March 2005.
At this stage, then, Biocompatibles is moving forward with a number of
milestones to reach during the year. The key events we expect management to
deliver on during 2005 are summarised below.

PRECISION trial data: final report from PRECISION II (Hong Kong) in 2H05
Recruitment of first patients for PRECISION IV (randomised controlled trial)
in 2H05
Feedback on European pre-marketing programme of the DC Bead, in
treatment of 100 patients
Filing the CE Mark application for the PRECISION bead in 2H05
Expected update from Abbott on its DES (drug eluting stent) programme,
including commencement of US clinical trials and publication of clinical
data from Zomaxx I.
Escrow release during 1H05; return of capital to shareholders in 2H05.
Initiate pre-clinical evaluation of a biodegradable drug eluting bead
(CellMed)
Complete recruitment for hypoparathyroidism phase IIa trial (CellMed)
Secure CE Mark approval for cosmetic implant bead (CellMed)
On this basis, there is much to potentially look forward to – our Add
recommendation reflects our positive stance on the company, and while we
don't expect today's results to impact the share-price significantly, we could see
share-price support above current levels (c300p) as news-flow feeds out.

[matthewa] 04/4/2005 09:12

Getting hammered again today. Any -ve news out on its stenting?

[nur0mancer] 01/4/2005 09:06

due a decent bounce after 8 consecutive down days on fairly low volumes

[suicidesid2] 04/3/2005 09:06

Im still here, with a smile on my face. Good luck SS2

[drmerv] 04/3/2005 07:34

A pleasant surprise, thought this company was in hibernation.

Looks to be a good fit of complimentary technologies. Purchase mostly with shares over a number of years depending on performance.

Website for CellMed is at

Is anyone else still here. (2Bob?)

[drmerv] 04/3/2005 07:14

Biocompatibles International PLC
04 March 2005



4 March 2005


Biocompatibles International plc
('Biocompatibles' or 'the Company')

Biocompatibles, the medical device company focused on the treatment of cancer
and cardiovascular disease, is pleased to announce that it has conditionally
agreed to acquire CellMed AG, and to provide an update on 2004 trading.

• Acquisition of novel biodegradable bead technology brings three new
product programmes - drug eluting bead, tissue transplant bead, cosmetic
implant bead.

• Expands Biocompatibles' cancer product pipeline, adding complementary
biodegradable bead technology to the Company's existing permanent bead
products.

• The initial consideration for all the CellMed AG shares, payable on
closing, is €5.2 million (£3.5 million). Initial consideration of €3.0
million (£2.0 million) in cash and 573,276 Biocompatibles shares payable on
closing. Share consideration equivalent to €2.2 million (£1.5 million)
valued at the closing share price on 3rd March 2005.

• Deferred consideration totalling €5.0 million (£3.4 million) payable in
2006. Profit-sharing payments payable on CellMed's cell-based programmes in
each year up to and including 2010 subject to an aggregate maximum of €12.0
million (£8.4 million). The maximum aggregate consideration of €22.2
million (£15.3 million) is payable as to approximately 70% in
Biocompatibles' shares and 30% in cash.*

• Group 2004 turnover: £2.6 million (up 23%).

• Net funds at 2004-year end: £45.2 million. Expected 2005 closing net
funds of £35 million after Escrow release and Return of Capital.

• Recruitment complete for Biocompatibles PRECISION I (Hong Kong) clinical
trial for the treatment of primary liver cancer with the doxorubicin
drug-eluting bead.

Commenting on today's announcement, Crispin Simon, Biocompatibles' Chief
Executive, said: 'We are delighted with this acquisition. CellMed brings
excellent technology and a number of very promising new products for our
pipeline. Our robust financial position gives us the resources to maximise its
value.'

Dr Peter Geigle, Chief Executive of CellMed, commented 'We are pleased to be
joining Biocompatibles. The Company has complementary technology and relevant
skills to ours - and an excellent track record of generating shareholder value
from its product portfolio.'

Enquiries:

Biocompatibles [phone]
Crispin Simon, Chief Executive
Ian Ardill, Finance Director

Maitland [phone]
Neil Bennett
Emma Burdett

* For the purposes of the above summary only, the initial consideration payable
in Biocompatibles' shares has been calculated by reference to the closing price
of Biocompatibles' shares as at the close of business on 3rd March, 2005,
269.5p. The sterling equivalents set out above are calculated on the basis of €
1.45:£1. Further details on the terms of the transaction and the consideration
payable are given in the attached Appendix.

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 process.



CellMed AG Acquisition
----------------------

Biocompatibles, the medical device company focused on the treatment of cancer
and cardiovascular disease is pleased to announce the conditional agreement to
acquire CellMed AG, based in Alzenau, near Frankfurt in Germany:

Summary

CellMed is a medical technology company developing medical device and drug
delivery products. CellMed's core biodegradable bead technology complements
Biocompatibles' existing permanent bead products, which are focused on cancer
and benign tumours. The acquisition strengthens Biocompatibles' product pipeline
and extends the patent portfolio.

• CellMed has 15 employees led by founder Dr Peter Geigle, a medical
doctor, with more than 15 years of general management experience in the Life
Sciences industry.

• CellMed has a capability in polymer chemistry that complements
Biocompatibles' core technical competence, as well as capabilities in
molecular biology and cell biology.

• Biocompatibles will prioritise three programmes:

- The development of CellMed's biodegradable drug-eluting embolisation bead
technology to add to Biocompatibles' drug-eluting bead programme.

- The development of CellMed's tissue transplant bead that is in a Phase 2a
trial for the treatment of hypoparathyroidism.

- The commercialisation of CellMed's cosmetic implant bead.

Reasons for the Acquisition

Biocompatibles' strategy is to develop a line of significant drug delivery
products based on proprietary biomedical polymer and drug delivery systems -
facilitated by the acquisition of sensibly priced, high quality programmes. The
Company was founded to commercialise the proprietary PC TechnologyTM polymer
system, which was supplemented in 2002 by the in-licensing of the N-FilTM Bead
technology from the Novartis affiliate, Biocure Inc. This programme has
progressed well.

The acquisition of CellMed strengthens Biocompatibles' product portfolio in
three important respects.

First, the patented biodegradable bead technology has unique properties that are
relevant to specific new drug-eluting bead market opportunities. Biocompatibles
will provide further updates as this programme progresses.

Second, CellMed's tissue transplant bead is in a Phase IIa clinical trial for
the treatment of hypoparathyroidism at two German hospitals, led by Professor
Peter Neuhaus of the Charite University Clinic in Berlin. Hypoparathyroidism is
the insufficient production of the parathyroid hormone that regulates calcium in
the blood. It most commonly arises following surgery for the treatment of
thyroid cancer. Most patients are treated with vitamin D and calcium but this is
not effective in all patients. Patients for whom this regimen is ineffective
suffer from chronic muscle weakness, and in the most severe cases, immobility,
kidney calcification and renal failure. The tissue transplant bead concept
involves removing parathyroid tissue from patients who are producing too much
parathormone and implanting it into patients who are producing too little. The
tissue is encapsulated in the bead, protecting it from the patient's immune
system but permitting the release of the parathormone produced by the
encapsulated tissue. The Phase IIa trial protocol requires the recruitment of
ten patients of whom four have now been treated and followed up - with
encouraging results in three cases.

Following the acquisition, Biocompatibles intends to secure Orphan Drug status
for the treatment of severe cases of hypoparathyroidism and to initiate a
further clinical trial to secure regulatory approval. Biocompatibles estimates
the global market opportunity for the tissue transplant bead in this indication
to be in the region of £25 million.

Third, the biodegradable bead without a therapeutic is being developed for
cosmetic use. Filing of a CE Mark application is planned for later this year.

CellMed has also developed a human adult stem cell line that can express
therapeutic proteins when encapsulated in the biodegradable beads. CellMed has
developed research collaborations for this product, which are largely funded by
public sector grants, with the University of Heidelberg and the International
Neurological Institute, Hanover.

Proof of concept work is also under way for the treatment of pancreatic cancer,
glioblastoma (brain cancer), anaemia and Type II diabetes. Biocompatibles
expects to advance programmes where there is a strong proof of principle and
would intend to partner them before the start of any significant clinical
programme.

In addition, CellMed has developed a diagnostic test for the measurement of
haemoglobin. This product is partnered with Fresenius AG, the world's leading
provider of renal dialysis services. Modest revenues are expected in 2005.

CellMed has pending and granted US and European patents and patent applications
in the fields of bead manufacturing and cell and tissue encapsulation. CellMed
also has accreditation to the ISO9001 quality standard and a drug manufacturing
licence in respect of the tissue transplant bead.

It is expected that the cosmetic implant and the drug-eluting embolisation bead
will each be treated by the regulatory authorities as a medical device. The
tissue transplant bead is expected to be regulated as a human tissue engineered
product.

Management and Organisation

CellMed will form one of Biocompatibles' two product development centres. The
other, based at Farnham in the UK, will continue to be managed by Dr Peter
Stratford. Dr Geigle will continue to manage CellMed and will report directly to
Biocompatibles' Chief Executive, Crispin Simon.

Transaction Terms

• Biocompatibles has conditionally agreed to acquire 97 per cent of the
shares in CellMed AG. Completion of the acquisition is subject to the
submission of an application for listing of the shares to be allotted as
initial consideration to the official list of the UKLA and admission to
trading on the London Stock Exchange. Closing is expected to take place within
one week. Following closing, Biocompatibles intends to compulsorily acquire
the outstanding minority interest in Cellmed.

• The initial consideration for all the Cellmed AG shares, payable on
closing, is €5.0 million (£3.4 million). This is to be satisfied by the issue
to the owners of CellMed of 573,276 Biocompatibles' shares and the payment of
€3.0 million (£2.0 million) in cash.

• Deferred consideration totalling €5.0 million (£3.4 million) is
payable in two instalments of €1.2 million (£0.8 million) and €3.8 million
(£2.6 million) on 30th June and 31st December 2006 respectively. Such deferred
consideration is to be satisfied by the issue of 358,295 and 1,074,890
Biocompatibles' shares on the respective dates.

• Additional profit-sharing payments are to be made by Biocompatibles
equal to 10 per cent of the net cash income received by the Group from the
CellMed cell-based programmes in each year up to and including 2010. Payments
are to be made annually and are capped at €12.0 million (£8.4 million) in
aggregate. 70 per cent of the amount due (if any) will be satisfied by the
issue of up to 2,418,823 Biocompatibles' shares and 30 per cent will be paid
in cash.

• The maximum consideration payable is €22.0 million (£15.2 million) of
which approximately 30 per cent will be satisfied in cash and 70 per cent will
be satisfied by the issue of Biocompatibles' shares.

• Biocompatibles has the option to sell CellMed back to the vendors for
a nominal value on 30 June 2006 or on 31 December 2006 in which case the
obligations to make future payments of deferred consideration or profit-
sharing payments would cease. Biocompatibles does not intend to exercise this
option unless the CellMed programmes fail to make the progress expected. On
the exercise of this option Biocompatibles would make an investment into
CellMed which would be sufficient to provide a cash balance of €1.3 million
(£0.9 million) to fund its short term trading. In return, Biocompatibles would
retain 10% of the CellMed shares and receive a fully paid up licence for the
use of the biodegradable bead technology in embolisation and drug eluting
embolisation.

• Cash payments are to be made in euros. The sterling equivalents set out
above are calculated on the basis of €1.45:£1. If the initial consideration
shares were valued on the basis of the share price at the close of business on
3rd March 2005, there would be an increase in the value of the initial
consideration shares of 12 per cent. This uplift has been included in the
initial and total consideration calculations on the front page summary.

As at 31 December 2004, CellMed had net liabilities of €0.2 million (£0.1
million) and in the twelve months ending on the same date, recorded a net loss
before taxation of €1.1 million (£0.8 million).

The financial impact of the transaction is described in the 2005 Guidance
section below.

Goals and News Flow

The management of Biocompatibles and its new CellMed operation have set
themselves the following goals for CellMed in 2005:

• Initiating a pre-clinical evaluation for the biodegradable drug-eluting
embolisation bead.

• Completing recruitment for the hypoparathyroidism Phase 2a trial.

• Securing CE Mark approval for the cosmetic implant bead.

• Securing FDA approval for the haemoglobin test device and initiating a US
launch of the product.

Trading

The Company is also pleased to provide an unaudited update on trading for the
year to 31 December 2004 and the Company's closing financial position; as well
as preliminary guidance for 2005. The key points are:

Biocompatibles' 2004 Results

Turnover increased by 23% to £2.6 million. Sales growth in 2005 is expected to
continue as a result of the increase in the size of the US sales force of
Terumo, Biocompatibles' distribution partner for Bead Block, which occurred in
the second half of 2004.

Total cash outflow in 2004 was £10 million resulting in year-end net funds of
£45.2 million, against the previous guidance position of £39 million, the
difference being largely attributable to the timing of spend within Abbott's
development programme and Biocompatibles' clinical trial programmes together
with receipts from exercises of employee share options and interest received.

Following a review of the provisions for warranties and indemnities, created on
the disposal of three businesses in 2002, the Directors have decided that a
further provision release of £4.9 million is appropriate. The remaining
provision balance is £4.1 million.

In the 2003 Preliminary Announcement, the Company identified a number of plans
for 2004 and good progress has been made, especially in respect to the
drug-eluting bead programme.

PRECISION Trials update

Biocompatibles is pleased to announce today that patient recruitment is complete
for the PRECISION I clinical trial in Hong Kong, evaluating the treatment of
primary liver cancer with the Doxorubicin Eluting Bead.

2005 Guidance

The Company expects total 2005 cash outflow, including the effects of the
CellMed acquisition but excluding the planned return of capital and related
costs, to be approximately £18 million:

• Biocompatibles' operating cash expenditure1 is expected to be
approximately £8 million and the combination of non-operating and contracted
Abbott R&D cash expenditure is expected to be around £5 million.

• £2 million is expected to be invested into the CellMed development
programmes.

• The cash element of the initial consideration for CellMed plus
additional acquisition costs are expected to be approximately £3 million.

Subject to release of the escrow account, cash is expected to increase by around
£20 million. The return of capital following the release of the escrow together
with related costs, will total around £12 million.

The 2005 cash flow guidance is summarised in the following table:

£ million BII CellMed Acquisition Total
costs
Operating cash expenditure* 8 2 0 10
Non operating cash flow 2 0 3 5
Abbott R&D expenditure 3 0 0 3
-------- -------- --------- -------
13 2 3 18
Escrow release -20 0 0 -20
Return of capital 12 0 0 12
-------- -------- --------- -------
5 2 3 10
-------- -------- --------- -------

The closing net funds position is expected to be around £27m prior to the
anticipated escrow release and subsequent return of capital, or £35m following
them.

Consolidated turnover is expected to be in the range of £3m to £4m.

A full review and a summary of the Company's goals for 2005 will be provided
with the Preliminary Results statement on 17 March.

* Operating cash expenditure is defined as net cash outflow from operating
activities plus returns on investments and servicing of finance adjusted for
non-cash movement on current asset investments.



Notes to Editors


ISOSTENT

1. Isostent's original suit, filed in March 2002, cited Biocompatibles and
Biocompatibles Cardiovascular Ireland Limited ('BCIL') its cardiovascular stent
subsidiary, as co-defendants. When Biocompatibles sold BCIL to Abbott
Laboratories ('Abbott'), it agreed to provide indemnities in relation to a
number of matters including the claim by Isostent against BCIL. £17.6m was
placed in an escrow account as security for these claims. A further £17.6m was
placed in restricted bank account.

2. Biocompatibles announced in March 2003 that it had reached a settlement
with Isostent and that Isostent had withdrawn its claim against both
Biocompatibles and BCIL. Isostent was, however continuing its claim against the
remaining defendants (LPL Systems and Divysio Solutions ULC Inc). The Directors
reported that they had been advised that the settlement agreement eliminated a
significant part of the risk associated with the indemnity relative to the
Isostent claim.

3. In September 2003, Abbott agreed to release Biocompatibles from its
obligation to maintain £17.6m in the restricted bank account, subsequent to
which the Company returned £11.3m to shareholders.

4. Final determination of the Isostent litigation will allow the Company to
seek the release of the £17.6m placed in escrow as security for the Isostent
indemnity subject to there being no outstanding claims by Abbott relative to the
Isostent case. The Directors believe the conclusion of the Isostent case should
allow the majority of the £17.6m held in the escrow account to be released to
the Company. If the Isostent litigation has not concluded by 8 May 2005, the
escrow account will be released under the terms of the original sale agreement
between the Company and Abbott, subject to the retention of an amount to cover
any bona fide claims by Abbott under the indemnity.

5. The release of the monies held in the escrow account is a condition for
the third of three capital repayments to be made to Biocompatibles'
shareholders. The first payment of £100m was made in June 2002. The second
payment of £11.3m was made in October 2003. The size of the third repayment is
expected to be in the region of £11m or approximately 29p/share, but will depend
on the amount released from escrow and the number of shares in issue at the
relevant time.

PRECISION Trials

1. Biocompatibles' PRECISION clinical trials are designed to evaluate the
safety and efficacy of this drug-eluting bead in the treatment of the liver
cancer, hepatocellular carcinoma (HCC).

2. The primary endpoint of the trial is safety, measured by complication
rates and dose-limiting toxicity, with a secondary endpoint of tumour response
measured by MRI (magnetic resonance imaging) at six months.

3. The trials are taking place at the Barcelona Clinic for Liver Cancer and
the Queen Mary Hospital in Hong Kong. Both centres are world leaders in this
area of research and have established that chemo-embolisation improves survival
of selected liver cancer patients who are unsuitable for surgery and other
curative treatments.

4. Preliminary results from the PRECISION II trial in Hong Kong were
presented at the CIRSE Congress on September 26th 2004. Further trial data are
expected during the course of 2005.






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[harry punter] 02/3/2005 12:11

notice today OXB oxford bio medica came out with highly positive phase 3 trials for one of its cancer drugs the shares look very interesting at 23p ---CEN at 8.5p -CeNeS is another little drug stock that looks very interesting with plenty of cash £12mil and with glaxo behind the scenes aiding with the company R&D also holding 3%------minster MpM a small hybrid company out of smith kline glaxo with cash to enough get through the next 12 months with positive news expected in the summer ---imo its interesting that these three company's are all located around the cambridge area -with cambridge university being the main recruitment area's for SMITH KLINE GLAXO ---
like the dot com era I think the next sector to boom will be the bio tech / healthcare sector and stocks like these -oxford, cenes and minster look superb bets imho

regards harry and the boys

[red army] 21/2/2005 16:40

We seem to be there or thereabouts - lets see if we can penetrate this area of resistance before going on to the £4 target. It may take a little while.

[drago] 19/2/2005 10:34

whealan
,thanks for your reply, i agree, we dont want a bb which resembles
some of the others.
i have been holding from 95p and am very patient too.

[bipper9ers] 16/2/2005 19:22

Is PE only at 6? Is this correct? Does anyone have an idea as to what this years earnings will come in at ie, what the brokers are expecting?

[suicidesid2] 16/2/2005 14:49

whealan,

SNAP & Hear hear! to P & Q

SS2

[whealan] 16/2/2005 12:40

drago. I care. I've had quite a lot of these for donkey's years and after their near-death experience a few years back perhaps something is on the cards.The volumes aren't high but the rise seems relentless. Who knows, maybe patience will be rewarded. At last.And we should all be thankful that we don't have posters like they have on TFC for example.A bit of P&Q is welcome!

[drago] 16/2/2005 11:44

practically at280 today.
nobody comments.
folks must hate bii.
if its going up , who cares?

[drago] 11/2/2005 11:14

red
heading your way , slowly but surely. fingers crossed.

reults for the liver cancer trial , now a year since started , must be known.

[red army] 07/2/2005 12:06

280 NEXT STOP

[bonzo] 07/2/2005 11:58

Its obviously worked - I propose another 2 months in purdah!

[martin44] 04/2/2005 21:31

Wish I knew where this was going, also the end of the court proceedings for return of funds? Anyone know more.........?

[graham142] 04/2/2005 19:08

Ha Ha Bonzo - you caved in!!!!!!!
we have all been testing who could hold out posting the longest lol