Investor News

November 20, 2009 - Trading Update

Cyprotex

("Cyprotex" or "the Company" or "the Group")

Cyprotex (LSE:CRX), the drug discovery technology and information company, provides the following trading update for year ending 31 December 2009.

Current Trading

Revenues for the period are expected to be in line with 2008. Conditions in the CRO market remain challenging and in Q4, normally the strongest quarter, we have experienced lower than expected demand in general and from our largest customer, with whom we continue to have a strong long-term relationship. Notwithstanding this, new business enquiries during the quarter have been more buoyant.

The Company remains cash generative and cash in hand at 31 October 2009 was £1.98 million against £1.72 million at 30 June 2009.

Operational Update and Investment Programme

In line with its stated objectives, Cyprotex has succeeded in reducing its dependence on a small number of key customers by increasing the number of strategic customers from three to five and has continuing discussions with other potentially significant customers.

This year the Company has introduced several new services, including Cloe® Gateway, a portal to bring the Company's predictive Cloe®PK products to the market, six new assays which have generated over £400,000 of additional revenue and has a rolling programme for the introduction of further assays, all of which will generate additional revenues in 2010.

Furthermore, £300,000 will be invested in Q1 2010 to build and fit-out new laboratories and the Company will continue to extend its technical capabilities to enable the provision of additional capacity and new services to current and potential future customers.

Tony Baxter, Chief Executive of Cyprotex, said:

"Although we are disappointed not to have delivered stronger growth this year we believe that this is a resilient performance given the backdrop of challenging market conditions for the CRO sector.

"The new services introduced during the year are delivering additional revenues and our ongoing investment programme reflects our continued confidence in the future prospects for Cyprotex."

For further information:
Cyprotex PLC
Tel: +44 (0) 1625 505 100
Dr Anthony Baxter, Chief Executive Officer
John Dootson, Chief Financial Officer
ir@cyprotex.com
www.cyprotex.com

Noble & Company
Tel: +44 (0) 20 7763 2200
John Llewellyn-Lloyd
john.llewellyn-lloyd@noblegp.com
Sam Reynolds
sam.reynolds@noblegp.com
www.noblegp.com

Financial Dynamics
Tel: +44 (0) 20 7831 3113
Ben Brewerton / Ben Atwell / John Dineen
cyprotex@fd.com
www.fd.com