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Final results for the year ended 31 December 2011

Record year for Cyprotex

Cyprotex PLC (AIM: CRX), the preclinical ADME-Tox services company, today reports its final results for the year ended 31 December 2011.

Financial Highlights

• Revenues up 33.6% to £7.91 million (2010: £5.92 million)
• Continued profitability with operating profits up 203% to £0.67 million (2010: £0.22 million)
• Underlying EBITDA^, an indicator of cash generation, remains consistently strong up 70% to £1.31 million (2010: £0.77 million)
• Profit after taxation up 42% to £0.88 million (2010: £0.62 million)
• Earnings per share at 0.39 pence (2010: 0.31 pence)

^ excluding share-based payment charge and expensed acquisition costs

Operational Highlights

• Won 157 new customers (2010: 81) including important strategic contracts

• Revenues associated with proprietary CellCiphr™ high content mechanistic toxicology technology exceeded £1.0 million (2010: £0.1 million)
• Increased revenue from new assays contributing £0.35 million in 2011
• Introduction of new genomic ADME (gADME™) technology to interpret genetic variation in drug metabolism and for the design of personalised dosing strategies
• Successful delivery in partnership with Solvo Biotechnologia ZRT of a wide range of drug transporter services to Cyprotex clients, in response to recent FDA guidance
• Extension of successful strategic alliance with Sygnature Discovery Limited to offer integrated drug discovery services
• As a result of collaborative relationships with our strategic customers, significant improvements have been made to our pharmacokinetic prediction software, Cloe® PK, and our proprietary high content toxicology technology, CellCiphr™
• Major expansion with a near doubling of our US facility to meet growing demand in North America for Cyprotex’s services completed in Q1 2012
• Increased front line sales team to five in total with three located in the US


Steve Harris, Chairman of Cyprotex PLC, said:

“After two years of investment to enhance and expand our services and geographic footprint, our objective for 2012 is to leverage the competitive advantages we have created to drive revenue and profit growth.  Cyprotex has now established itself as a thought leader in the ADME Tox field, with a strong position in the fast-growing in vitro toxicology market.  Indeed, our laboratories in both the UK and US have had major expansions to accommodate increased demand.  With these improvements to our services, together with the sector trend towards outsourcing R&D and the continued easing of the recession, we believe that Cyprotex is well placed for further strong growth.”

For further information:

Cyprotex PLC  Tel:  +44 (0) 1625 505 100
Dr Anthony Baxter, Chief Executive Officer
John Dootson, Chief Financial Officer
Mark Warburton, Chief Operating Officer and Legal Counsel
ir@cyprotex.com 
www.cyprotex.com


Singer Capital Markets Limited (broker to Cyprotex) Tel:  +44 (0)20 7496 3000
Shaun Dobson
shaun.dobson@singercm.com
Claes Spang
claes.spang@singercm.com 
www.singerscm.com


FTI Consulting Tel:  +44 (0) 20 7831 3113
Simon Conway
Ben Atwell
Mo Noonan
cyprotex@fticonsulting.com      
www.fticonsulting.com


Notes to Editors:

Cyprotex PLC
Cyprotex is the world’s largest contract research organisation (CRO) specialising in ADME Tox, which is the analysis of the Absorption, Distribution, Metabolism, Excretion, and Toxicity properties of potential drugs, cosmetics, and agrochemicals.  It is the only company in the world with in-house capabilities for both in vitro (test tube) and in silico (computer modelling) ADME ToxCyprotex was founded in 1999 and listed on the AIM in 2002.  It has laboratories in Macclesfield, Cheshire, UK (near Manchester), and Watertown, Massachusetts, USA (near Boston), making it one of only three ADME Tox CROs with international operations.

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