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Market: LSE
Sector: Pharmaceuticals
EPIC: BII
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Biocompatibles
www.biocompatibles.com

Biocompatibles International plc is a leading company in the field of drug-device combination products.  The Oncology Products Division conducts the marketing of Biocompatibles’ approved oncology products.  These include products that are used for the treatment of primary liver cancer (HCC), liver metastases from colorectal cancer and prostate cancer.  Our R&D Facilities are engaged in licensing and in new product development for oncology, stroke, and diabetes and obesity.  We have collaborative agreements with AstraZeneca, Bayer Healthcare Pharmaceuticals Inc. and Medtronic Inc.

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Biocompatibles in advanced offer talks and full-year sales on track

28th Oct 2010, 10:27 am

Biocompatibles International PLC (LON:BII) said today it is in advanced talks with a potential offeror, following its announcement on September 20 that it had received a preliminary approach.

Details were not disclosed. A further update to shareholders will be made in due course.

The drug-device combination products specialist said in a separate trading statement that sales remain in line with management's expectations and it continues to expect full year revenue in the range of £31 million to £34 million.

In its interim management statement relating to the period from July 1 to October 27 2010, it said the company's cash balance decreased by £0.7m during the three months to September 30, closing with £32.7 million.

Biocompatibles expects to exceed the year-end guidance for closing cash of £26 million.

Commenting on the third quarter of 2010, chief executive Crispin Simon said: "The company continues to make good progress and we look forward to achieving our 2010 annual goals."

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