14th Dec 2007 15:05
Avacta Group plc
AGM Statement
At today's AGM of Avacta Group plc ("Avacta" or the "Company"), which provides biophysics based analysis technology and services, Prof. Alastair Smith, Chief Executive, made the following statement:
"We have enjoyed an excellent beginning to the current financial year in terms of building our revenue-generating pharmaceutical services business, whilst pushing forward strongly with our principal product development - a technology to help reduce the cost and risks associated with biopharmaceutical drug development which is expected to launch in late 2008.
"Additional technology products are also being prototyped and we are in discussions with several potential commercial partners to deliver clear routes to market for these additional products aimed at chemical and biological detection and point-of-care diagnostics and we hope to announce further news in the coming months.
"In conclusion, we have exceeded the initial targets we set ourselves when Avacta Group floated in autumn 2006 and are on schedule to deliver on our plans laid in April this year. We look forward to keeping investors informed via regular news flow during the coming months."
14 December 2007Enquiries:Avacta Group plc Tel: 0870 835 4367 Alastair Smith, Chief Executive Nexus Financial Ltd Tel: 020 7451 7050 Nicholas Nelson/Kathy Boate [email protected] WH Ireland Limited Tel: 0161 832 2174 David Youngman/Robin Gwyn BankOra Limited - Nominated Broker Tel: 020 7562 4713
Henry Turcan/Michael Brennan
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