Cel Sci Corporation (CVM)

[trickledownfacists]

Ergomed eyes more drug deals as revenues rise

Pharma services specialist Ergomed (LON:ERGO) lifted by revenues by 25% in 2015 with orders also rising strongly.

The company splits its business between services supply and drug co-development deals.

Revenues for 2015 were approximately £29mln (£24mln including acquisition PrimeVigilance on a pro-forma basis).

New contracts during the year totalled £28mln, including several repeat orders for full service clinical studies, full service pharmacovigilance projects and medical information services.

Orders at the year-end were approximately £59mln.

A co-development deal with the Swedish biotech company, Dilaforette in sickle cell anaemia also started Phase II clinical studies.

All told, Ergomed has stakes in five drugs in the later stage of development.

Miroslav Reljanovic, chief executive said: “Our co-development portfolio is maturing and we are looking forward to our partners' late stage clinical data to be announced later in 2016.

“We are in active discussions with a number of partners and expect to announce new deals in 2016,” he added.

A significant proportion of revenue was already secured for 2016 and allied to the late stage co-development pipeline, he was confident about the future, said Reljanovic.

In 2016, results are due from the Phase III trial of Aeterna Zentaris's Zoptrex in endometrial cancer, Phase IIa results of Ferrer's insomnia treatment lorediplon (fourth quarter).

Cel-Sci's 880-patient Phase III head and neck trial of Multikine is also due to complete recruitment in 2016.


http://www.proactiveinvestors.co.uk/companies/news/121982/ergomed-eyes-more-drug-deals-as-revenues-rise-121982.html