Anagen Slips Further Into Red

Anagen Plc, the UK biotechnology company floated last June, reported losses of L1.99 million ($3.2 million) for the first six months of 1994, an increase on the L1.78 million loss reported for the like, year-earlier period. Turnover was down to L483,000, compared with L1.3 million.

The results are very much in line with the company's expectations. Anagen says that the costs of development and production activity continued at broadly the same level as in the previous period, and turn-over in the first half of the year has not benefited from sums receivable from Organon Teknika under a marketing agreement, as it did in 1993, but a further L1 million is due in the next 12 months.

Anagen's sales of nearly L500,000 were derived mainly from initial sales of instruments and assays to OT for placement into hospitals for clinical trials, but no further sales of instruments are planned now that OT has assumed responsibility, as scheduled, for instrument manufacture.