23rd Feb 2006 07:01
Tepnel Life Sciences PLC23 February 2006 Tepnel Life Sciences plc ('Tepnel' or 'the Company') UPDATE ON DEVELOPMENT OF CONTRACT ANALYSIS FACILITY Manchester UK, 23 February, 2006: Tepnel Life Sciences PLC has completed thepurchase of 1.7 acres of land in Livingston, Scotland for the construction of adedicated pharmaceutical, protein and genomic analysis facility. The 18,000square foot state-of-the-art laboratory will allow Tepnel to consolidate itsexisting pharmaceutical services business into a single location with itsprimary function being the analysis of therapeutic proteins includingrecombinant and affinity purified proteins for use as therapeutic agents andvaccines. The Company will also expand it pharmacogenomics capabilities toinclude high throughput genotyping and other genomic analysis techniques. Ben Matzilevich, Tepnel's CEO, says "this is an important milestone in ourlong-term strategy to provide the most competitive platform for our existingpharmaceutical analysis services. It will also allow us to continue thesuccessful development of some of our most specialized products and services inhigh growth areas such as pharmacogenomics and new generations of vaccines. I especially would like to thank Scottish Enterprise Edinburgh and Lothian forits continued support of this project, without which we could not haveproceeded, and also the support of the Scottish Executive through theirprovision of an RSA grant which is helping Tepnel create value within theScottish economy through the creation of jobs as a result of this project. Thisfacility, which will be owned by Tepnel, will enable our Research Products &Services group to use our mass spectrometry capabilities in building ourposition in the rapidly evolving therapeutic protein market. Additionally, weshall expand our capabilities in bio-and immunoassays of these therapeuticmolecules for our pharmaceutical and biotechnology customers. By building and owning a facility such as this we will have created a valuableasset for Tepnel which will give the Company significant flexibility for furtherexpansion and growth. Our objectives remain continued strong top line growthand increasing bottom line profitability while maintaining a healthy pipeline ofnew products and services directed to key market segments." About Tepnel Life Sciences plc Tepnel Life Sciences (AIM:TED) is a UK-based international life sciencesproducts and services group with two main divisions, Molecular Diagnostics andResearch Products & Services. The Company has laboratories, manufacturing andoperations in the USA, UK and France with 175 employees. TLS provides testkits, reagents and services to two highly synergistic markets, these beingMolecular Diagnostics and Biomedical Research. The company's strategy has beento identify high growth niche opportunities within these multi-billion poundmarkets. TLS focuses on these niche opportunities with internally developedproducts, patents, expertise and know-how as well as strategic acquisitions, todevelop a leadership position within these defined market segments. More information on Tepnel can be found at www.tepnel.com. Enquiries: Carol Smith Tepnel Life Sciences plc Heron House, Oaks Business Park Crewe Road, Wythenshawe Manchester M23 9HZ Tel: 0161 946 2220 Fax: 0161 946 2223 [email protected] Richard Anderson De Facto Communications Ltd 330 High Holborn London WC1V 7QD Tel: 020 7861 3838 Fax: 020 7861 3839 [email protected] www.defacto.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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