Regulatory Announcements
Biocompatibles Intl. Statement re Acquisition of Cancer Diagnostic Product
18/11/2009
DJ Biocompatibles Intl. Statement re Acquisition of Cancer Diagnostic Product
TIDMBII
BIOCOMPATIBLES INTERNATIONAL PLC
("Biocompatibles" or the "Company")
Acquisition of Cancer Diagnostic Product and related Intellectual Property
MoleMateTM - enables early detection of cancerous moles
Farnham UK, 18 November 2009: Biocompatibles plc, the medical technology
company, is pleased to announce the acquisition of the inventory and
intellectual property assets of Astron Clinica Limited ("Astron") (in
administration). The gross assets acquired are GBP200,000 and the purchase has
been funded out of existing cash resources.
Astron's principal products, MoleMate(TM) and MoleView(TM) broaden the product
portfolio of Biocompatibles' Oncology Products Division and are non-invasive
melanoma visualisation, diagnostic and data storage systems that are sold to
General Practitioners, Dermatologists and cancer screening clinics.
The technology is already in use, principally in Australia and in the UK and
will be progressively launched into more territories during the course of 2010.
The current year financial implications are covered within Biocompatibles'
financial guidance, which was updated on 4 November 2009.
The technology has been evaluated in three clinical trials which have recruited
more than 1500 patients assessed with MoleMate. In the most recent, a
substantial UK primary care trial, the rate of Sensitivity (True Positives) and
Specificity (True Negatives), the key yardsticks of diagnostic tests, were 96%
and 83% respectively (1); and compared favourably on both measures with benchmark
rates from GPs using conventional techniques of 67% and 75% respectively.
Crispin Simon, Chief Executive Officer, commented:
"Most people are aware of the benefits of timely cancer screening. Melanoma is
relatively easy to screen yet typically fatal if detected late. This technology
delivers accurate results at an affordable cost in a location, such as a GP's
surgery, that is convenient to patients."
Mr Per Hall, FRCS (Plast) Consultant Plastic and Reconstructive Surgery,
commented:
"Mole-Mate(TM) is essentially an `optical biopsy' - an appealing concept to
doctors and patients."
Dr Graham Campbell, Galston Medical Centre, New South Wales, Australia, added:
"MoleMate gives you more information to base your judgement on. Previously I
may have looked at a mole and put off doing anything. In one or two cases, when
viewed through MoleMate they have been nastier than I thought and they were cut
out."
(1) Hunter et al: Data presented at British Association of Dermatologists, July 2006
-ends-
A short video explanation of MoleMate (2m 30s) is available to download at
http://siascopy.biocompatibles.com
Contact:
Biocompatibles +44 (0)1252 732732
Crispin Simon, Chief Executive
Ian Ardill, Finance Director
Anna Keeble +44 (0)7879 818876
Julian Walker +44 (0)20 7357 9477
Notes to editors
MoleMatetm is a non-invasive melanoma visualisation and diagnostic device,
specifically designed for General Practitioners and other medical professionals
not specialising in the diagnosis of malignant melanoma. It enables them to
more efficiently and accurately make a decision to excise a lesion, or refer
the patient to a Dermatologist or to immediately reassure the patient that
their lesion is not suspicious.
General Practitioners, without a MoleMate, but who are willing to assess a
suspicious lesion, currently typically use a seven-point test. MoleMate allows
GPs to base their decisions on more extensive observations and the application
of a clinically-validated software-based assessment system, thereby improving
the quality of diagnosis and, ultimately, patient outcomes.
MoleViewtm, like MoleMate, is a non-invasive visualisation and diagnostic device
but with added features designed for Dermatologists and other skin specialists.
Biocompatibles International plc (www.biocompatibles.com)
Biocompatibles International plc is a leading medical technology company in the
field of drug-device combination products.
The Oncology Products Division supplies medical devices from facilities in
Farnham, UK and Oxford, CT. These include Drug-Eluting Bead Products which are
used in more than 35 countries for the treatment of primary liver cancer (HCC),
liver metastases from colorectal cancer, and other cancers; and Brachytherapy
products (Radiation-Delivering Seeds) which are used in the treatment of
prostate cancer. Our distribution partners include AngioDynamics Inc., Terumo
Corporation and Eisai Co. Ltd. We have a clinical collaboration agreement with
Bayer Healthcare Pharmaceuticals Inc.
Our Licensing Division includes CellMed, in Alzenau, Germany, which is
developing a Drug-Eluting Bead product for the treatment of stroke, based on
proprietary stem cell technology; a GLP-1 analogue for the treatment of
diabetes and obesity partnered with AstraZeneca; and a cosmetic Dermatology
Bead partnered with Merz Pharmaceuticals GmbH. We also have a PC Licensing
agreement with Medtronic Inc. in the field of Drug-Eluting Stents.
This news release contains forward-looking statements that reflect
Biocompatibles' current expectation regarding future events. Forward-looking
statements involve risks and uncertainties. Actual events could differ
materially from those projected herein and depend on a number of factors
including the success of Biocompatibles' research strategy, the applicability
of the discoveries made therein, the successful and timely completion of
clinical studies and the uncertainties related to the regulatory and
commercialisation processes.
Hunter et al: Data presented at British Association of Dermatologists, July
2006
END
(END) Dow Jones Newswires
18-11-09 0700GMT