Entelos, Inc. (''Entelos'' or the ''Company'') Trading Statement
July 02 2007 - 2:02AM
Business Wire
Entelos, Inc. (LSE:ENTL), a leading life sciences company building
predictive computer models of human physiology and �virtual
patients� for drug discovery and development, today is updating the
market ahead of its pre-close period for the six-month period ended
30 June 2007. Trading for the year to date has been in line with
management expectations and, as previously announced on 12 March
2007, Entelos expects that 2007 revenues will be in line with the
level reported for 2006 both at the interim and year-end. The
Company has good contract visibility and has cash and accounts
receivables of $ 5.7 million as at 30 June 2007. Since its
preliminary report on 18 April 2007, Entelos announced key
developments to expand its business prospects: A broad strategic
alliance with India-based Jubilant Biosys to more cost-effectively
discover, in-license, and further develop a portfolio of compounds;
and jointly develop and offer a complementary spectrum of in silico
and traditional services from early drug discovery through phase II
clinical trials. Entelos introduced its Realab� technology, a new
simulation tool that enables direct web access to its
state-of-the-art computer models, by launching, in collaboration
with the American Diabetes Association, a Realab� website with
access to the Entelos computer model of type 1 diabetes. This new
technology provides scientists and clinicians an unparalleled
ability to investigate the onset, progression and treatment of
diabetes. In addition, James Karis, CEO of Entelos, presented the
Company at healthcare-related investor conferences held in London
during the month of June in order to continually promote the
Company within the healthcare sector. Overall, management remains
confident in the Company�s trading prospects and financial
performance for the 2007 financial year. Notes to Editors About
Entelos, Inc. Entelos, Inc. (www.entelos.com) is a US-based life
sciences company applying next-generation predictive technologies
and using 'virtual patients' and 'virtual mice' to revolutionize
the way medicines are discovered, developed, and utilized. The
Company leverages its proprietary in silico disease models, known
as PhysioLab� platforms, to help select and develop compounds,
optimize clinical trials and combination therapies, evaluate
in-licensing candidates, and better position products in
competitive markets. In addition to internal drug programs in
rheumatoid arthritis and women's health, Entelos partners with
global pharmaceutical companies and provides customized technology
and research services in cardiovascular diseases, asthma, obesity,
diabetes, rheumatoid arthritis, hematopoeisis (anemia), cholesterol
metabolism, and skin sensitization. The company recently launched
its Realab� technology, a simulation tool to provide web-based
access to Entelos� powerful PhysioLab� platforms via the Internet.
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