TED Ted Baker Plc

RNS Number:1283O
Tepnel Life Sciences PLC
4 December 2001


                                                           4 December 2001



                          Tepnel Life Sciences PLC

                                AGM Statement



At the AGM today, Peter Raymond, Non-Executive Chairman of Tepnel Life
Sciences PLC, a leading provider of nucleic acid purification solutions to the
BioMedical Research market, made the following remarks:



"Tepnel Life Sciences has moved steadily forwards during 2000/2001.  We have
completed a highly successful fundraising, bolstered our management team and
acquired the Medical Testing Laboratory (MTL) from The Royal Pharmaceutical
Society of Great Britain.  Our tri-polar strategy of providing automated
systems, manual kits and scientific services to our customers continues to
prove to be a successful strategy.  Sales growth in the revenue generating
parts of our business remains encouraging.



Launch of T1000 Automated Purification System



This week marks a significant step forward for the Company as we launch our
first automated system for plasmid DNA purification - the T1000 Automated
Purification System.  The T1000 stands at the forefront of DNA purification
technology as it combines simplicity and ease-of-use with complete walk-away
automation and high quality output DNA.



We anticipate steady but increasing sales of both the system and associated
consumables.



Distribution

Heads of agreement, including the pre-sale of five T1000 systems, have been
reached with a major international company based in Japan, which will also
cover China, Korea and Taiwan.  Discussions are also underway with other
potential distributors for other major territories.



Distribution in the UK will be direct through our own sales force.



Fundraising

On 15 June, we were pleased to announce a fully underwritten #7.45m
fundraising (net of expenses).   We believe that our ability to raise this
money in difficult market conditions is a strong and encouraging endorsement
of Tepnel's strategy, management and prospects.   As a result of this
fundraising, our cash position remains strong and we now have a broader
potential institutional investor base.



Board Additions

During the year, we strengthened the Board with the appointment of a new Chief
Executive Officer, Mr. Ben Matzilevich. Mr. Don Marvin, Senior Vice President,
Chief Operating Officer and Chief Financial Officer of Orchid BioSciences Inc.
(Nasdaq: ORCH) has also joined the Board as Non-Executive Director.  In
addition to their extensive management experience in the biotech industry,
both of these appointments reinforce Tepnel's experience of, and connections
to, the US market.



Management Appointments

Tepnel is also pleased to announce the appointment of Mr. Gron Ffoulkes-Davies
as Financial Controller and Company Secretary.



Post Year-End Events

Acquisition of MTL and re-organisation of the Services Business

On 17 July, we completed the acquisition of Medicines Testing Laboratory (MTL)
from the Royal Pharmaceutical Society of Great Britain.  This acquisition
brings significant turnover to the Tepnel Group and will enable Tepnel to
expand its range of services for the pharmaceutical industry and position it
to penetrate the rapidly growing outsourcing market.

In order to integrate this acquisition into the Tepnel Group and ensure that
it is managed on a for profit basis going forward, MTL has been combined with
Tepnel's existing BioAnalytical Services business to create Tepnel Scientific
Services.




Expansion of DNA scientific services portfolio

On 1 October, we announced an expansion of our DNA scientific services
portfolio into the rapidly growing area of pharmacogenomics.  This expansion
has taken place through the purchase of a dedicated genotyping system and
rights to proprietary databases from Orchid BioSciences, Inc. ("Orchid").  The
system and Orchid's proprietary database will enable Tepnel to provide state
of the art analytical services to its existing customer base and potential new
customers.

Expansion of Tepnel's range of manual kits

Tepnel will continue to expand its range of manual kits and plans to launch
two new Nucleon DNA purification products in January, 2002.



Current Trading



We continue to improve revenues across the Group through our tri-polar
strategy.  We believe that we have the financial resources, management and
positioning to take advantage of a rapidly growing market and that, as a
result, we will achieve our corporate objectives and deliver shareholder value
going forward."





Enquiries:



Tepnel Life Sciences PLC                        0161-946-2200
Ben Matzilevich, Chief Executive Officer
Mike Billingham, Commercial Director
Carol Smith, MarComs Manager



Hudson Sandler                                  020-7796-4133
Piers Hooper
Jessica Rouleau



This document is confidential and is only for distribution in the United
Kingdom to persons to whom such a communication is permitted by the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2001 or by any other
Order made pursuant to section 21(5) of the Financial Services and Markets Act
2000 and, if permitted by applicable law, for distribution outside the United
Kingdom to professionals or institutions whose ordinary business involves them
in engaging in investment activities. It is not intended to be distributed or
passed on, directly or indirectly, to any other class of persons. This
document is being supplied to you solely for your information and may not be
copied, reproduced, further distributed to any other person or published, in
whole or in part, for any purpose. The information in this document does not
constitute, or form part of, any offer to sell or issue, or any solicitation
of an offer to purchase or subscribe for, any shares in the Company nor shall
this document, or any part of it, or the fact of its distribution, form the
basis of, or be relied on, in connection with any contract.

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