Atlanta, Dec 12, 2005 AEST (ABN Newswire) - Life Therapeutics (ASX: LFE) announced today it has signed a four year contract with a major European fractionator to supply hyperimmune plasma against the Cytomegalo virus (CMV).
CMV is a member of the herpesvirus family and affects many people worldwide. The value of the contract is US$4.675M over the 4 years and is over and above the company's previously published sales projections.
Life Therapeutics will collect and supply the CMV hyperimmune plasma to the European fractionator who will then manufacture therapeutic CMV from this plasma.
This is the fifth new sales contract Life Therapeutics has announced since 30 June 2005. Collectively these new contracts increase total sales by 38% in the FY 05/06 and 76% in the FY 06/07. The Company has now revised its sales forecast for the 05/06 and 06/07 financial years.
REVISED SALES FORECAST 2005/06 AND 2006/07 FINANCIAL YEARS Sera Diagnostics Other Total Old New Old New Old New Old New Sales Sales Sales Sales Sales Sales Sales Sales2005/6 51 76 19 23 4 3 74 1022006/7 60 125 22 25 7 7 89 157
"These projections clearly signal the strong revenue growth of the organization. While the Company is continuously working on additional sales contracts, the primary focus of the management team over the next 6 months will be on increasing the plasma production from the combined 14 Life Sera collection centers to meet this additional demand", said Dr Hari Nair, CEO and Managing Director of Life Therapeutics. Furthermore, the Company would also like to note that sales for the six month period to 31st December 2005 are inline with previously announced projections of A$22.5m.
Life Sera collects specialty plasma, including Anti-D and Hepatitis B from a donor base of more than 5,000 in thirteen U.S. collection centers. The plasma is then sold to blood fractionators who process it into hyperimmune therapeutic products.
Life Gels offers pre-cast gels for use in biological research and diagnostic testing, including a variety of electrophoresis systems. It also offers ultra-sensitive and rapid stains, molecular weight markers, and specially formulated buffers.
Life Diagnostics provides highly specific diagnostic tests for blood-clotting disorders and source plasma products for blood-borne diseases. Technologies include specialized blood coagulation tests to predict the risk of thrombosis and bleeding disorders. It also collects high-titer source plasma and serum used to make diagnostic kits.
Life Manufacturing incorporates the Gradiflow technology with the manufacture of therapeutic and diagnostic products. Gradiflow is a patented process that simultaneously purifies proteins and removes all viral pathogens, and infectious prion proteins.
Contact
Jesse McCorvey
Director, Public and Investor Relations
TEL: +1-404-300-5030
www.life-therapeutics.com
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