Product development agreement with Alltracel Pharmaceuticals Plc

Devro plc (DVO.L.) group companies have signed two agreements with Alltracel Pharma Limited, a subsidiary of Alltracel Pharmaceuticals Plc (AP.L), the AIM listed biopharmaceutical R & D company, for the development of products in the medical and functional foods markets.

Devro's dissolvable thin film technology joint venture will focus on;

• The manufacture of Alltracel's stops bleeding blottersâ„¢ product for the consumer first aid market; and
• The development of thin film technology for chronic wound care applications for both the consumer and professional wound care markets.

Devro's Scottish manufacturing company will work with Alltracel on;

• the research and development of ingredient delivery systems for cholesterol management for the functional food market using Alltracell's patented m.doc â„¢ technology platform.

These agreements are unlikely to have a material impact on the financial results of the Devro group in 2004 and 2005.

Commenting on today's announcement, Devro's CEO, Dr Graeme Alexander, commented;

"This is further evidence of Devro's ability to use its expertise in the development and manufacture of speciality products. This is a very interesting development and represents a further opportunity to make use of our inherent skills and existing facilities".

 

Enquiries:

Graeme Alexander	Chief Executive	01236 879191
John Neilson	Finance Director	01236 879191
Jon Coles, Mark Antelme	Brunswick	020 7404 5959
Denise Cronin	Alltracel	+ 353 1 235 2162