TED Ted Baker Plc

RNS Number:8637O
Tepnel Life Sciences PLC
14 July 2005


              Tepnel Life Sciences PLC ('Tepnel' or 'the Company')
                                        
                                 Trading Update
                                        

Tepnel Life Sciences PLC (AIM: TED), the UK-based international Research
Products & Services and Molecular Diagnostics group, is pleased to announce the
following trading update for the first half of 2005, in advance of its interim
results announcement in September 2005.

Group sales are approximately 35% ahead of the same period last year at #6.85m
(unaudited) (2004: #5.07m). Sales for second quarter of the year were #3.66m
(unaudited). The Group expects to maintain significant sales growth for the
remainder of the year.

Cash at the end of the period was #1.81m (unaudited); (31 December 2004:
#2.54m). With cash balances at 31 March 2005 of #1.80m (unaudited), the second
quarter of the year was marginally cash positive.


Molecular Diagnostics

Overall sales for the Molecular Diagnostics Division were approximately 34%
ahead of the prior year. This sales growth is attributed to the strong
performance of the Tepnel Lifecodes (TLC) LifeMatch(R) product line with its
rapidly increasing market share in the HLA marketplace.

Tepnel Diagnostics (TD) sales of genetic pre-disposition kits and services have
increased by approximately 29% and should continue to expand as key new products
are launched. These new products include a high throughput cystic fibrosis kit
targeted to the U.S. market which was launched in March 2005. The new kits for
genetic birth defects based on chromosomal analysis will launch during Q3 2005.
A new product line of genetic assays for cardiovascular disease should begin
rollout before the end of the year.


Research Products and Services

Sales from Tepnel's Research Products and Services Division increased 36%
compared to the prior year period. Once again sales growth is expected to remain
significant for the remainder of the year.

The sales growth has come in part from the division's service offerings to the
biotechnology and pharmaceutical community which includes mass spectrometry
analysis of therapeutic proteins and the development of highly specialised
monoclonal antibodies against certain cells believed to be responsible for
diseases such as rheumatoid arthritis. Other areas that are performing ahead of
plan include analytical chemistry and microbiology services.

The Company remains optimistic for continued strong sales growth from this
division. Ben Matzilevich, CEO stated "the recent acquisition of Diaclone in
December 2004 significantly increases our capabilities for antibody and assay
development. The integration of Diaclone allows us to offer an increased menu of
analytical services to our pharmaceutical customers, a broadly expanded research
reagents catalogue and will enable us to develop new tests for Molecular
Diagnostics."

Ben Matzilevich, CEO commented further "We are pleased and gratified with our
half year performance. These results are indicative of our focus and commitment
to our long-term strategy of penetrating the HLA and Organ Transplantation
market with innovative and user friendly assays. We will continue to develop and
expand our position in these markets with integrated diagnostic products on our
highly multiplexed Luminex platform."

"We are attaining critical mass and are competing effectively in global markets.
Our goals remain to increase the value of our Company for our shareholders while
creating a challenging and rewarding workplace environment for our employees".

"Our progress has also not gone unnoticed within our industry. It was announced
on 11 July 2005 that Bio-Rad Laboratories, a $1.5 billion biotech company based
in California, had acquired a 3.87% shareholding in Tepnel."

"The Company has also noted the recent movement in its share price and
speculation in the market place. I can confirm that we have had some preliminary
discussions with one or more parties which may or may not lead to an offer being
made for the Company. The Company stresses that these are at an early stage and
there can be no guarantee that these discussions will lead to an offer being
made."


About Tepnel

Tepnel Life Sciences (TLS) is a UK based international biotechnology company.
The Company has laboratories, manufacturing and operations in the USA, UK and
France with 175 employees. TLS provides test kits, reagents and services to two
highly synergistic markets, these being Molecular Diagnostics and Biomedical
Research. The company's strategy has been to identify high growth niche
opportunities within these multi-billion pound markets. TLS focuses on these
niche opportunities with internally developed products, patents, expertise and
know-how as well as strategic acquisitions, to develop a leadership position
within these defined market segments.

Enquiries:

Ben Matzilevich, Chief Executive Officer, Tepnel Life Sciences
plc                                                              0161 946 2200
Gron Ffoulkes-Davies, Finance Director, Tepnel Life Sciences
plc                                                              0161 946 2200
Mark Percy, Seymour Pierce Limited                               0207 107 8000
Richard Anderson, De Facto Communications Ltd                    0207 940 1000


Seymour Pierce Limited ("Seymour Pierce"), which is regulated in the United
Kingdom by the Financial Services Authority, is acting for Tepnel in relation to
the matters described in this announcement and is not advising any other person,
and accordingly will not be responsible to anyone other than Tepnel for
providing the protections afforded to customers of Seymour Pierce or for
providing advice in relation to the matters described in this announcement.

Rule 8

Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers ("the
City Code"), any person who, alone or acting together with any other person(s)
pursuant to an agreement or understanding (whether formal or informal) to
acquire or control relevant securities of Tepnel, owns or controls, or becomes
the owner or controller, directly or indirectly, of 1 per cent. or more of any
class of securities of Tepnel is required to disclose, by not later than 12.00
noon (London time) on the London business day following the date of the relevant
transaction, dealings in such securities of that company (or in any option in
respect of, or derivative referenced to, any such securities) during the period
to the date on which the offer, if made, becomes or is declared unconditional as
to acceptances or lapses or is otherwise withdrawn.

Under the provisions of Rule 8.1 of the City Code, all dealings in relevant
securities of Tepnel by any potential offeror or the Company or by any of their
respective "associates" (within the meaning of the City Code) must also be
disclosed.

If you are in any doubt as to the application of Rule 8 to you, please contact
an independent financial adviser authorized under the Financial Services and
Markets Act 2000, consult website of The Panel of Takeovers and Mergers ("the
Panel") at www.thetakeoverpanel.org.uk or contact the Panel on the telephone
number +44 20 7638 0129; fax +44 20 7236 7013.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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