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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
BTG | LSE:BGC | London | Ordinary Share | GB0001001592 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 387.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4412Q BTG PLC 02 October 2003 2 October 2003 BTG plc: Close Period Update and Notice of Results BTG plc (LSE: BGC), the global technology commercialisation company, today issued the following update for the six months ended 30 September 2003 ahead of the Company's Interim Results on 1 December 2003. Results for the period are expected to be in line with the Board's expectations, with a significant increase in revenues and reduced losses. Good operational progress was made across the portfolio. Total and net revenues are expected to show significant growth compared with the first half of 2002. Investments in technology development, in Provensis and in ventures are expected to be higher than in the same period last year, in line with the Group's strategy to continue to invest selectively in the acquisition, development and commercialisation of emerging technologies. Administration and other operating costs are anticipated to be lower than in the first half of last year, reflecting the benefits of BTG's restructuring in December 2002. Consequently, the operating loss and loss before tax are expected to reduce. Provensis, BTG's subsidiary that is developing VARISOLVE(R), the novel varicose vein technology, presented the preliminary results of a pivotal European Phase III trial at a scientific congress in San Diego on 30 August. The results, in which VARISOLVE(R) achieved an 83.4% response rate based on a very stringent primary endpoint, will form the basis of the first regulatory submission in Europe as planned in 2004, with the first European launch targeted in 2005. A Phase II trial is progressing in the US, and data from the second of three 20-patient cohorts is expected to be submitted to the US FDA this calendar year. Construction of a shell facility and small scale manufacturing production line continued in the UK. Commercialisation planning continues, with two broad options under consideration: the licence to or joint venture with an established healthcare company; or, Provensis taking the product to market with appropriate contracted support. Discussions with potential partners have commenced and a decision on the preferred commercialisation route is expected during the current financial year. While the environment for commercialising technologies has remained challenging, potential licensees have been more willing recently to discuss commercial terms for a range of technologies. Several new licences were signed in the first half, with good prospects for completing additional licence agreements in the second half. The market for providing technology commercialisation services to sources of technology and intellectual property has remained strong during the first half. BTG has continued to develop its relationships with both new and existing clients and, in accordance with BTG's renewed focus on a smaller number of high-quality opportunities, 13 new technology commercialisation agreements were signed with academic and corporate sources. Offering more developed technologies has proven to be attractive to potential licensees or venture partners, and 17 new development projects were authorised to develop technologies further prior to commercialisation. From the Ageing & Neuroscience portfolio, two compounds with the potential to treat anxiety and depression were licensed to Abiogen Pharma S.p.A. From the Oncology portfolio, plans were announced to investigate BGC 9331 in a Phase I/II trial for its use as a first-line treatment for gastric cancer. In the Semiconductor Technologies area, a collaboration with Taiwan's Industrial Technology Research Institute (ITRI) was signed in which BTG and ITRI will jointly develop, and BTG will commercialise, a polymer technology for information displays for use in the next generation of laptop computers, mobile phones, PDAs and television sets. In Ventures, where BTG seeks to leverage its core IP, technology and commercial expertise by investing in early stage technology companies with high growth potential, BTG co-led an investment in Cambridge-based Xention Discovery Ltd, which will develop drug screening programmes in the cardiovascular and neurology areas. BTG will also be a co-sponsor of a new early stage life sciences fund based in Boston, MA. BTG will announce its Interim Results at 7.00am on 1 December. A presentation to analysts at 9.30am will be broadcast live via the company's website www.btgplc.com. Ends For further information contact: BTG Financial Dynamics Andy Burrows, Director of Investor Relations Ben Atwell +44 (0)20 7575 1741 +44 (0)20 7831 3113 About BTG BTG finds, develops and commercialises emerging technologies in the life and physical sciences. These innovations are protected by a strong portfolio of intellectual property that BTG develops and enhances. BTG then captures the value in these technologies through licensing and venturing activities. From the origins of its business in 1949, BTG has commercialised major innovations such as Magnetic Resonance Imaging (MRI), recombinant factor IX blood-clotting protein, Campath(R) (alemtuzumab) and Multilevel Cell (MLC) memory. BTG is quoted on the London Stock Exchange under the symbol "BGC" and operates from offices in London and Philadelphia, with representation in Tokyo. BTG operates through wholly owned subsidiaries, BTG International Ltd. and BTG International Inc. in the UK and USA, respectively. Further information on BTG can be found at www.btgplc.com. This information is provided by RNS The company news service from the London Stock Exchange END TSTIIFSRIVLFIIV
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