27th Jan 2005 07:00
BTG PLC27 January 2005 BTG plc: Update on Varisolve(R) London, UK, 27 January 2005 - BTG plc (LSE: BGC), the IP and technologycommercialisation company, announces the following update on Varisolve(R), thevaricose veins treatment being developed by its subsidiary Provensis. As announced on 30 September 2004, Provensis has repeated a preclinical studyintended to explore whether exposure to microbubbles following Varisolve(R)administration can cause subclinical effects such as microinfarcts. Thisconcludes the programme of studies aimed at enabling resumption of the USclinical development of Varisolve(R). Provensis is now collating all of the data from the studies and preparing awritten submission to the US Food and Drug Administration (FDA). In themeantime, Provensis intends to seek a meeting with the FDA to determine whetherthe completed programme of studies addresses all of the clinical hold issues(pending review of the final study reports). If so, it is anticipated that aformal complete response to the clinical hold would be filed in mid-2005. Discussions are continuing with potential partners, in order to secure a globaldevelopment and commercialisation agreement for Varisolve(R) as soon aspossible. The Board remains confident that proceeds from the March 2004 RightsIssue are sufficient to continue to fund Provensis while partnering discussionsprogress. Ends For further information contact: BTG Financial DynamicsAndy Burrows, Director of Investor Relations Ben Atwell/Lucy Briggs+44 (0)20 7575 1741 +44 (0)20 7831 3113 About BTG BTG is an intellectual property and technology commercialisation company thatoperates internationally. BTG creates value by investing in intellectualproperty and technology development, and in early stage ventures. We realisevalue through technology licensing, patent assertion and disposal of equityinvestments. Through a multidisciplinary approach, we apply intellectualproperty and commercial expertise, together with specialist skills in scienceand technology, to create major product opportunities in the health and hightech sectors. BTG has commercialised important innovations, including MagneticResonance Imaging, Multilevel cell memory, and Factor IX blood clotting protein,the first recombinant treatment for Haemophilia B. BTG operates through whollyowned subsidiaries BTG International Ltd and BTG International Inc in the UK andUSA, 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 ExchangeRelated Shares:
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