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Ergomed eyeing up more co-development deals

Ergomed’s (LON:ERGO) chief financial officer, Neil Clark, says the company is eyeing up co-development deals, winning more services contracts and considering acquisitions as it moves into the latter half of 2015.

In simple terms, ERGO invests its time and research expertise helping young biotech firms through the tricky and expensive stages of development.

Its co-development arm is working on three phase III treatments that could generate £66mln (US$100mln) of revenues if successful.

Revenues for business from January to June rose 85% to £7.8mln, giving underlying earnings (EBITDA) of £1.5mln. 

Clark said the figures sent out a “strong message post IPO of growth and being on target”.

Quick facts: Ergomed PLC

Price: 805 GBX

AIM:ERGO
Market: AIM
Market Cap: £392.02 m
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Ergomed Plc (LON:ERGO) has been cheered by news of progress in a medical study by one of its co-development partners, Modus Therapeutics. The pharma services and drug development group drew its shareholders’ attention to an announcement by Modus relating to Sevuparin, a new drug to treat...

on 11/16/2016

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