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 […]
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.
- Unaudited 2016 revenues expected to be approximately £38 million – up 26% from £30.2 million in 2015
- Approximately £42 million of contracts were won in 2016 up 50% from £28 million in 2015
- Exited year with backlog of contracted future work of approximately £70 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 £9.2 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™ 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.”
|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 European enquiries||Tel: +49 211 52925222|
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: https://ergomedplc.com.