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For Immediate Release 17 August 2007
The Medical House PLC
AIM Rule 26 Compliant Website
The Medical House PLC (“TMH” or the “Company”),
(AIM:MLH) the drug delivery specialist, announces today that the
information required by Rule 26 of the AIM Rules for Companies
(February 2007) is available under http://www.themedicalhouse.com/financial/shareholder/rule26.asp
or from the 'Shareholder Information' section of the website.
For further information:
The Medical House PLC
Ian Townsend, Chairman
Tel: 0114 261 9011
www.themedicalhouse.com
Buchanan Communications
Tim Anderson / Rebecca Skye Dietrich
Tel : 020 7466 5000
Nomura Code Securities Limited
Richard Potts Tel : 020 7776 1200
Notes to Editors:
About The Medical House
There is a growing trend in the pharmaceutical industry towards
the use of needle-based disposable autoinjectors for self-injection.
The “ASI” is TMH’s first autoinjector system
following the development of a range of needle-free devices which
are already successfully in use. TMH’s ASI autoinjector
technology allows injections to be easily and safely undertaken
by patients themselves or by other non-clinicians such as family
members and colleagues and are applicable to both elective therapies
and emergency situations.
In December 2006, TMH announced that it had entered into a development,
licensing and supply agreement for the ASI with a leading global
pharmaceutical partner, for delivery of an, as-yet, undisclosed
drug. TMH’s revenues from this agreement, consisting of
development, supply and technology access fees, are projected
to be in the region of £27m over an initial five year period,
with technology access fees comprising approximately £18m
of these revenues.
TMH signed its first deal for the ASI in June 2006 with Martindale
Products and Specials, part of Cardinal Health Inc, in an initial
five-year contract to supply the ASI system for use with an, as-yet,
undisclosed pharmaceutical product, in the United Kingdom. The
combined product is to incorporate TMH’s ASI and Martindale’s
pre-filled syringe,. The agreement has projected revenues for
TMH of £3m over an initial supply period of 5 years.
In December 2005, TMH announced an agreement with a European
Government Agency to develop a disposable autoinjector for emergency
administration of specific pharmaceutical compounds, based on
TMH’s ASI autoinjector. Within this project, TMH’s
client is making the required capital investment and covering
the costs of design and development. In March 2007, it was announced
that TMH had been commissioned by this Agency to enter into a
second phase of development within the project, which involves
TMH developing and manufacturing devices, according to defined
operational and functional requirements, for technical assessment,
over an anticipated 12 months project duration. Within the second
phase of the project, TMH will receive up to £1m, subject
to achieving agreed milestones, in relation to the cost of the
project including associated design and development activities.
In September 2004, TMH signed an agreement with Serono to develop
and supply a new needle-free injector for use with its human growth
hormone. This licence and supply agreement is for an initial period
of 5 years with projected revenues for TMH of £4.3m.
In February 2005, TMH announced a 10-year agreement which it
has signed with BioPartners GmbH, to supply its needle-free system
for the delivery of BioPartners’ human growth hormone products.
Historically, the majority of the group’s turnover has
come from its orthopaedic company, Eurocut Limited, which designs
and manufactures instruments and systems used in surgical procedures
for many of the world’s leading orthopaedic companies. With
the increasing significance of its drug delivery division, the
group is considering its options for Eurocut.
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