Proteus Interim Results Claim Across-The-Board Progress

UK molecular-modeling and immunotherapies drug discovery companyProteus International, says it is "advancing across the whole range of its activities, achieving important milestones in its development."

For the six months to September 30, Proteus reported turnover of just L21,000 ($34,612), compared with L413,000 in the like, year-earlier period. This decline is attributed to phasing of revenues from existing agreements and a strategy of developing new products more fully to maximize their value before licensing them out. The firm's operating loss was L2.1 million, up 7.3%, while the loss on ordinary activities amounted to L1.9 million, compared with L1.8 million.

Proteus noted that its research and administration expenses had been reduced 11% to L1.9 million for the six months. It said that it is building a pipeline of therapeutic products which now include: GnRH immunotherapeutic/immunocastration vaccines; an angiotensin immunotherapeutic vaccine; early-stage immunotherapeutic projects; bovine spongiform encephalopathy/Creutzfeld-Jakob disease diagnostics; NISV for chronic inflammatory diseases; computer-aided molecular design of enzyme inhibitors; Factor Xa (an antithrombotic) and an anti-asthmatic tryptase inhibitor.