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<title>Proactiveinvestors United Kingdom Asterand</title>
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<pubDate>Mon, 21 May 2012 09:24:25 +0100</pubDate>
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<item>
<title><![CDATA[News - Asterand nearing sale of tissue subsdiary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
<p>Revenue for the Tissue business improved, while BioSeek revenue reduced.</p>
<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
<div><br /></div>
<p> </p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Fri, 18 May 2012 13:32:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Interim Management Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 18 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</guid>
</item>
<item>
<title><![CDATA[News - Asterand exploring alternatives for sale of subsidary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 15:54:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Disposals ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 15:07:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</guid>
</item>
<item>
<title><![CDATA[News - Asterand to sell BioSeek and other main business separately ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</link>
<description><![CDATA[<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ]]></description>
<pubDate>Mon, 30 Apr 2012 09:51:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[30.04.12: -1.25, (2.88) Press: Asterand fell after it announced it had called off the sale of the business. It has instead signed letters of intent to each of its two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately. This would lead to solvent liquidation of the group to return cash to shareholders. Source - Mail]]></description>
<pubDate>Mon, 30 Apr 2012 00:00:00 +0100</pubDate>
<guid></guid>
</item>
<item>
<title><![CDATA[RNS press release - Notification of Final Results 30 April 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 19 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</guid>
</item>
<item>
<title><![CDATA[News - Asterand lifted by news of extended BioSeek/Merck Serono collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) shares were lifted by news that its subsidiary BioSeek has renewed its collaboration with Germany’s Merck KgaA.<br /><br />At 9.04 am, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> was trading at 5.125 pence, up 7.8 per cent from yesterday’s close.<br /><br />BioSeek applies its proprietary BioMAP platform to predict drug responses in pre-clinical models.<br /><br />It has now signed a new, three-year collaboration agreement with Merck Serono, which expands the previous three-year agreement from 2009.<br /><br />Under the new research plan, BioSeek will expand the use of BioMAP to evaluate Merck Serono small molecule compounds and proteins across multiple therapeutic areas in support of target differentiation, lead selection and nomination of candidates for preclinical development at Merck Serono. <br /><br />BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. <br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale in October and is currently in advanced talks with a small number of preferred parties.</p> ]]></description>
<pubDate>Wed, 28 Mar 2012 09:08:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek Extends Collaboration with Merck Serono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</guid>
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<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times]]></description>
<pubDate>Wed, 28 Mar 2012 00:00:00 +0100</pubDate>
<guid></guid>
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<item>
<title><![CDATA[News - Asterand still confident of sale but says will take longer to complete ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ]]></description>
<pubDate>Tue, 06 Mar 2012 07:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 06 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Jan 2012 14:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</guid>
</item>
<item>
<title><![CDATA[News - Asterand extends deadline for potential takeover bids ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ]]></description>
<pubDate>Thu, 05 Jan 2012 07:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 05 Jan 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</guid>
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<item>
<title><![CDATA[News - Asterand’s shares up almost 10 per cent after “research milestone” achieved ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</link>
<description><![CDATA[<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>]]></description>
<pubDate>Wed, 30 Nov 2011 12:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</guid>
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<title><![CDATA[News - Asterand subsidiary achieves “research milestone” with Japanese partner ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Wed, 30 Nov 2011 08:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Asterand Reaches Milestone for Ono Drug Discovery ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 30 Nov 2011 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</guid>
</item>
<item>
<title><![CDATA[News - Asterand extends sale process deadline ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ]]></description>
<pubDate>Fri, 18 Nov 2011 07:28:00 +0000</pubDate>
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"title" => "News - Asterand nearing sale of tissue subsdiary",
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<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
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<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
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<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
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"title" => "News - Asterand to sell BioSeek and other main business separately",
"pubdate" => "2012-04-30 09:51:00",
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"description" => "<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ",
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"description" => "28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times",
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"title" => "News - Asterand still confident of sale but says will take longer to complete",
"pubdate" => "2012-03-06 07:23:00",
"seftitle" => "asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html",
"description" => "<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ",
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"title" => "RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration",
"pubdate" => "2012-01-30 14:30:00",
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"pubdate" => "2012-01-05 07:30:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html"
),
array(
"id" => "120105atd0086v",
"title" => "RNS press release - Update on Formal Sale Process",
"pubdate" => "2012-01-05 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/"
),
array(
"id" => "36329",
"title" => "News - Asterand’s shares up almost 10 per cent after “research milestone” achieved",
"pubdate" => "2011-11-30 12:23:00",
"seftitle" => "asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html",
"description" => "<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html"
),
array(
"id" => "36308",
"title" => "News - Asterand subsidiary achieves “research milestone” with Japanese partner",
"pubdate" => "2011-11-30 08:11:00",
"seftitle" => "asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html",
"description" => "<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html"
),
array(
"id" => "111130atd0030t",
"title" => "RNS press release - Asterand Reaches Milestone for Ono Drug Discovery",
"pubdate" => "2011-11-30 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/"
),
array(
"id" => "35803",
"title" => "News - Asterand extends sale process deadline",
"pubdate" => "2011-11-18 07:28:00",
"seftitle" => "asterand-extends-sale-process-deadline-35803.html",
"description" => "<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html"
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<title><![CDATA[News - Asterand nearing sale of tissue subsdiary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
<p>Revenue for the Tissue business improved, while BioSeek revenue reduced.</p>
<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
<div><br /></div>
<p> </p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Fri, 18 May 2012 13:32:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Interim Management Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 18 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</guid>
</item>
<item>
<title><![CDATA[News - Asterand exploring alternatives for sale of subsidary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 15:54:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Disposals ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 15:07:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</guid>
</item>
<item>
<title><![CDATA[News - Asterand to sell BioSeek and other main business separately ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</link>
<description><![CDATA[<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ]]></description>
<pubDate>Mon, 30 Apr 2012 09:51:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[30.04.12: -1.25, (2.88) Press: Asterand fell after it announced it had called off the sale of the business. It has instead signed letters of intent to each of its two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately. This would lead to solvent liquidation of the group to return cash to shareholders. Source - Mail]]></description>
<pubDate>Mon, 30 Apr 2012 00:00:00 +0100</pubDate>
<guid></guid>
</item>
<item>
<title><![CDATA[RNS press release - Notification of Final Results 30 April 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 19 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</guid>
</item>
<item>
<title><![CDATA[News - Asterand lifted by news of extended BioSeek/Merck Serono collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) shares were lifted by news that its subsidiary BioSeek has renewed its collaboration with Germany’s Merck KgaA.<br /><br />At 9.04 am, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> was trading at 5.125 pence, up 7.8 per cent from yesterday’s close.<br /><br />BioSeek applies its proprietary BioMAP platform to predict drug responses in pre-clinical models.<br /><br />It has now signed a new, three-year collaboration agreement with Merck Serono, which expands the previous three-year agreement from 2009.<br /><br />Under the new research plan, BioSeek will expand the use of BioMAP to evaluate Merck Serono small molecule compounds and proteins across multiple therapeutic areas in support of target differentiation, lead selection and nomination of candidates for preclinical development at Merck Serono. <br /><br />BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. <br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale in October and is currently in advanced talks with a small number of preferred parties.</p> ]]></description>
<pubDate>Wed, 28 Mar 2012 09:08:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek Extends Collaboration with Merck Serono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times]]></description>
<pubDate>Wed, 28 Mar 2012 00:00:00 +0100</pubDate>
<guid></guid>
</item>
<item>
<title><![CDATA[News - Asterand still confident of sale but says will take longer to complete ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ]]></description>
<pubDate>Tue, 06 Mar 2012 07:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 06 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Jan 2012 14:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</guid>
</item>
<item>
<title><![CDATA[News - Asterand extends deadline for potential takeover bids ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ]]></description>
<pubDate>Thu, 05 Jan 2012 07:30:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
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<pubDate>Thu, 05 Jan 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Asterand’s shares up almost 10 per cent after “research milestone” achieved ]]></title>
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<description><![CDATA[<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>]]></description>
<pubDate>Wed, 30 Nov 2011 12:23:00 +0000</pubDate>
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<title><![CDATA[News - Asterand subsidiary achieves “research milestone” with Japanese partner ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
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<pubDate>Wed, 30 Nov 2011 08:11:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Asterand Reaches Milestone for Ono Drug Discovery ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</link>
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<pubDate>Wed, 30 Nov 2011 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Asterand extends sale process deadline ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ]]></description>
<pubDate>Fri, 18 Nov 2011 07:28:00 +0000</pubDate>
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<title><![CDATA[News - Asterand nearing sale of tissue subsdiary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
<p>Revenue for the Tissue business improved, while BioSeek revenue reduced.</p>
<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
<div><br /></div>
<p> </p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Fri, 18 May 2012 13:32:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Interim Management Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 18 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</guid>
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<title><![CDATA[News - Asterand exploring alternatives for sale of subsidary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 15:54:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on Disposals ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</link>
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<pubDate>Wed, 02 May 2012 15:07:00 +0100</pubDate>
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<title><![CDATA[News - Asterand to sell BioSeek and other main business separately ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</link>
<description><![CDATA[<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ]]></description>
<pubDate>Mon, 30 Apr 2012 09:51:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Final Results Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</link>
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<pubDate>Mon, 30 Apr 2012 07:00:00 +0100</pubDate>
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<description><![CDATA[30.04.12: -1.25, (2.88) Press: Asterand fell after it announced it had called off the sale of the business. It has instead signed letters of intent to each of its two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately. This would lead to solvent liquidation of the group to return cash to shareholders. Source - Mail]]></description>
<pubDate>Mon, 30 Apr 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Notification of Final Results 30 April 2012 ]]></title>
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<pubDate>Thu, 19 Apr 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[News - Asterand lifted by news of extended BioSeek/Merck Serono collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) shares were lifted by news that its subsidiary BioSeek has renewed its collaboration with Germany’s Merck KgaA.<br /><br />At 9.04 am, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> was trading at 5.125 pence, up 7.8 per cent from yesterday’s close.<br /><br />BioSeek applies its proprietary BioMAP platform to predict drug responses in pre-clinical models.<br /><br />It has now signed a new, three-year collaboration agreement with Merck Serono, which expands the previous three-year agreement from 2009.<br /><br />Under the new research plan, BioSeek will expand the use of BioMAP to evaluate Merck Serono small molecule compounds and proteins across multiple therapeutic areas in support of target differentiation, lead selection and nomination of candidates for preclinical development at Merck Serono. <br /><br />BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. <br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale in October and is currently in advanced talks with a small number of preferred parties.</p> ]]></description>
<pubDate>Wed, 28 Mar 2012 09:08:00 +0100</pubDate>
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<title><![CDATA[RNS press release - BioSeek Extends Collaboration with Merck Serono ]]></title>
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<pubDate>Wed, 28 Mar 2012 07:00:00 +0100</pubDate>
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<description><![CDATA[28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times]]></description>
<pubDate>Wed, 28 Mar 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[News - Asterand still confident of sale but says will take longer to complete ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ]]></description>
<pubDate>Tue, 06 Mar 2012 07:23:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</link>
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<pubDate>Tue, 06 Mar 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</link>
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<pubDate>Mon, 30 Jan 2012 14:30:00 +0000</pubDate>
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<title><![CDATA[News - Asterand extends deadline for potential takeover bids ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ]]></description>
<pubDate>Thu, 05 Jan 2012 07:30:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</link>
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<pubDate>Thu, 05 Jan 2012 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Asterand’s shares up almost 10 per cent after “research milestone” achieved ]]></title>
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<description><![CDATA[<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>]]></description>
<pubDate>Wed, 30 Nov 2011 12:23:00 +0000</pubDate>
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<title><![CDATA[News - Asterand subsidiary achieves “research milestone” with Japanese partner ]]></title>
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<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
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<pubDate>Wed, 30 Nov 2011 08:11:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Asterand Reaches Milestone for Ono Drug Discovery ]]></title>
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<pubDate>Wed, 30 Nov 2011 07:00:00 +0000</pubDate>
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<title><![CDATA[News - Asterand extends sale process deadline ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ]]></description>
<pubDate>Fri, 18 Nov 2011 07:28:00 +0000</pubDate>
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<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
<p>Revenue for the Tissue business improved, while BioSeek revenue reduced.</p>
<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
<div><br /></div>
<p> </p>
<div><br /></div>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html"
),
array(
"id" => "120518atd6711d",
"title" => "RNS press release - Interim Management Statement",
"pubdate" => "2012-05-18 12:30:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/"
),
array(
"id" => "42285",
"title" => "News - Asterand exploring alternatives for sale of subsidary",
"pubdate" => "2012-05-02 15:54:00",
"seftitle" => "asterand-exploring-alternatives-for-sale-of-subsidary-42285.html",
"description" => "<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html"
),
array(
"id" => "120502atd5853c",
"title" => "RNS press release - Update on Disposals",
"pubdate" => "2012-05-02 15:07:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/"
),
array(
"id" => "42114",
"title" => "News - Asterand to sell BioSeek and other main business separately",
"pubdate" => "2012-04-30 09:51:00",
"seftitle" => "asterand-to-sell-bioseek-and-other-main-business-separately-42114.html",
"description" => "<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html"
),
array(
"id" => "120430atd2952c",
"title" => "RNS press release - Final Results Statement",
"pubdate" => "2012-04-30 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/"
),
array(
"id" => "",
"title" => "Broker press",
"pubdate" => "2012-04-30 00:00:00",
"seftitle" => "",
"description" => "30.04.12: -1.25, (2.88) Press: Asterand fell after it announced it had called off the sale of the business. It has instead signed letters of intent to each of its two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately. This would lead to solvent liquidation of the group to return cash to shareholders. Source - Mail",
"link" => ""
),
array(
"id" => "120419atd6273b",
"title" => "RNS press release - Notification of Final Results 30 April 2012",
"pubdate" => "2012-04-19 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/"
),
array(
"id" => "40834",
"title" => "News - Asterand lifted by news of extended BioSeek/Merck Serono collaboration",
"pubdate" => "2012-03-28 09:08:00",
"seftitle" => "asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) shares were lifted by news that its subsidiary BioSeek has renewed its collaboration with Germany’s Merck KgaA.<br /><br />At 9.04 am, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> was trading at 5.125 pence, up 7.8 per cent from yesterday’s close.<br /><br />BioSeek applies its proprietary BioMAP platform to predict drug responses in pre-clinical models.<br /><br />It has now signed a new, three-year collaboration agreement with Merck Serono, which expands the previous three-year agreement from 2009.<br /><br />Under the new research plan, BioSeek will expand the use of BioMAP to evaluate Merck Serono small molecule compounds and proteins across multiple therapeutic areas in support of target differentiation, lead selection and nomination of candidates for preclinical development at Merck Serono. <br /><br />BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. <br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale in October and is currently in advanced talks with a small number of preferred parties.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html"
),
array(
"id" => "120328atd2161a",
"title" => "RNS press release - BioSeek Extends Collaboration with Merck Serono",
"pubdate" => "2012-03-28 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/"
),
array(
"id" => "",
"title" => "Broker press",
"pubdate" => "2012-03-28 00:00:00",
"seftitle" => "",
"description" => "28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times",
"link" => ""
),
array(
"id" => "39809",
"title" => "News - Asterand still confident of sale but says will take longer to complete",
"pubdate" => "2012-03-06 07:23:00",
"seftitle" => "asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html",
"description" => "<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html"
),
array(
"id" => "120306atd6998y",
"title" => "RNS press release - Update on Formal Sale Process",
"pubdate" => "2012-03-06 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/"
),
array(
"id" => "120130atd3782w",
"title" => "RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration",
"pubdate" => "2012-01-30 14:30:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/"
),
array(
"id" => "37484",
"title" => "News - Asterand extends deadline for potential takeover bids ",
"pubdate" => "2012-01-05 07:30:00",
"seftitle" => "asterand-extends-deadline-for-potential-takeover-bids--37484.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html"
),
array(
"id" => "120105atd0086v",
"title" => "RNS press release - Update on Formal Sale Process",
"pubdate" => "2012-01-05 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/"
),
array(
"id" => "36329",
"title" => "News - Asterand’s shares up almost 10 per cent after “research milestone” achieved",
"pubdate" => "2011-11-30 12:23:00",
"seftitle" => "asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html",
"description" => "<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html"
),
array(
"id" => "36308",
"title" => "News - Asterand subsidiary achieves “research milestone” with Japanese partner",
"pubdate" => "2011-11-30 08:11:00",
"seftitle" => "asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html",
"description" => "<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html"
),
array(
"id" => "111130atd0030t",
"title" => "RNS press release - Asterand Reaches Milestone for Ono Drug Discovery",
"pubdate" => "2011-11-30 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/"
),
array(
"id" => "35803",
"title" => "News - Asterand extends sale process deadline",
"pubdate" => "2011-11-18 07:28:00",
"seftitle" => "asterand-extends-sale-process-deadline-35803.html",
"description" => "<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html"
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<title><![CDATA[News - Asterand nearing sale of tissue subsdiary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
<p>Revenue for the Tissue business improved, while BioSeek revenue reduced.</p>
<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
<div><br /></div>
<p> </p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Fri, 18 May 2012 13:32:00 +0100</pubDate>
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<pubDate>Fri, 18 May 2012 12:30:00 +0100</pubDate>
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<title><![CDATA[News - Asterand exploring alternatives for sale of subsidary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 15:54:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on Disposals ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</link>
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<pubDate>Wed, 02 May 2012 15:07:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</guid>
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<title><![CDATA[News - Asterand to sell BioSeek and other main business separately ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</link>
<description><![CDATA[<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ]]></description>
<pubDate>Mon, 30 Apr 2012 09:51:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</guid>
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<title><![CDATA[RNS press release - Final Results Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</guid>
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<description><![CDATA[30.04.12: -1.25, (2.88) Press: Asterand fell after it announced it had called off the sale of the business. It has instead signed letters of intent to each of its two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately. This would lead to solvent liquidation of the group to return cash to shareholders. Source - Mail]]></description>
<pubDate>Mon, 30 Apr 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Notification of Final Results 30 April 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</link>
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<pubDate>Thu, 19 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</guid>
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<title><![CDATA[News - Asterand lifted by news of extended BioSeek/Merck Serono collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) shares were lifted by news that its subsidiary BioSeek has renewed its collaboration with Germany’s Merck KgaA.<br /><br />At 9.04 am, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> was trading at 5.125 pence, up 7.8 per cent from yesterday’s close.<br /><br />BioSeek applies its proprietary BioMAP platform to predict drug responses in pre-clinical models.<br /><br />It has now signed a new, three-year collaboration agreement with Merck Serono, which expands the previous three-year agreement from 2009.<br /><br />Under the new research plan, BioSeek will expand the use of BioMAP to evaluate Merck Serono small molecule compounds and proteins across multiple therapeutic areas in support of target differentiation, lead selection and nomination of candidates for preclinical development at Merck Serono. <br /><br />BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. <br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale in October and is currently in advanced talks with a small number of preferred parties.</p> ]]></description>
<pubDate>Wed, 28 Mar 2012 09:08:00 +0100</pubDate>
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<title><![CDATA[RNS press release - BioSeek Extends Collaboration with Merck Serono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</guid>
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<description><![CDATA[28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times]]></description>
<pubDate>Wed, 28 Mar 2012 00:00:00 +0100</pubDate>
<guid></guid>
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<title><![CDATA[News - Asterand still confident of sale but says will take longer to complete ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ]]></description>
<pubDate>Tue, 06 Mar 2012 07:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</guid>
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<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 06 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Jan 2012 14:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</guid>
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<title><![CDATA[News - Asterand extends deadline for potential takeover bids ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ]]></description>
<pubDate>Thu, 05 Jan 2012 07:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</guid>
</item>
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<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 05 Jan 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</guid>
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<title><![CDATA[News - Asterand’s shares up almost 10 per cent after “research milestone” achieved ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</link>
<description><![CDATA[<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>]]></description>
<pubDate>Wed, 30 Nov 2011 12:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</guid>
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<title><![CDATA[News - Asterand subsidiary achieves “research milestone” with Japanese partner ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Wed, 30 Nov 2011 08:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</guid>
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<title><![CDATA[RNS press release - Asterand Reaches Milestone for Ono Drug Discovery ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 30 Nov 2011 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</guid>
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<title><![CDATA[News - Asterand extends sale process deadline ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ]]></description>
<pubDate>Fri, 18 Nov 2011 07:28:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</guid>
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<title><![CDATA[News - Asterand nearing sale of tissue subsdiary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
<p>Revenue for the Tissue business improved, while BioSeek revenue reduced.</p>
<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
<div><br /></div>
<p> </p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Fri, 18 May 2012 13:32:00 +0100</pubDate>
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</item>
<item>
<title><![CDATA[RNS press release - Interim Management Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 18 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</guid>
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<item>
<title><![CDATA[News - Asterand exploring alternatives for sale of subsidary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 15:54:00 +0100</pubDate>
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<item>
<title><![CDATA[RNS press release - Update on Disposals ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 15:07:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</guid>
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<item>
<title><![CDATA[News - Asterand to sell BioSeek and other main business separately ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</link>
<description><![CDATA[<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ]]></description>
<pubDate>Mon, 30 Apr 2012 09:51:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</guid>
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<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[30.04.12: -1.25, (2.88) Press: Asterand fell after it announced it had called off the sale of the business. It has instead signed letters of intent to each of its two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately. This would lead to solvent liquidation of the group to return cash to shareholders. Source - Mail]]></description>
<pubDate>Mon, 30 Apr 2012 00:00:00 +0100</pubDate>
<guid></guid>
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<item>
<title><![CDATA[RNS press release - Notification of Final Results 30 April 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 19 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</guid>
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<item>
<title><![CDATA[News - Asterand lifted by news of extended BioSeek/Merck Serono collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) shares were lifted by news that its subsidiary BioSeek has renewed its collaboration with Germany’s Merck KgaA.<br /><br />At 9.04 am, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> was trading at 5.125 pence, up 7.8 per cent from yesterday’s close.<br /><br />BioSeek applies its proprietary BioMAP platform to predict drug responses in pre-clinical models.<br /><br />It has now signed a new, three-year collaboration agreement with Merck Serono, which expands the previous three-year agreement from 2009.<br /><br />Under the new research plan, BioSeek will expand the use of BioMAP to evaluate Merck Serono small molecule compounds and proteins across multiple therapeutic areas in support of target differentiation, lead selection and nomination of candidates for preclinical development at Merck Serono. <br /><br />BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. <br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale in October and is currently in advanced talks with a small number of preferred parties.</p> ]]></description>
<pubDate>Wed, 28 Mar 2012 09:08:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek Extends Collaboration with Merck Serono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</guid>
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<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times]]></description>
<pubDate>Wed, 28 Mar 2012 00:00:00 +0100</pubDate>
<guid></guid>
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<item>
<title><![CDATA[News - Asterand still confident of sale but says will take longer to complete ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ]]></description>
<pubDate>Tue, 06 Mar 2012 07:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</guid>
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<item>
<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 06 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Jan 2012 14:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</guid>
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<title><![CDATA[News - Asterand extends deadline for potential takeover bids ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ]]></description>
<pubDate>Thu, 05 Jan 2012 07:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</guid>
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<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 05 Jan 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</guid>
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<title><![CDATA[News - Asterand’s shares up almost 10 per cent after “research milestone” achieved ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</link>
<description><![CDATA[<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>]]></description>
<pubDate>Wed, 30 Nov 2011 12:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</guid>
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<title><![CDATA[News - Asterand subsidiary achieves “research milestone” with Japanese partner ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Wed, 30 Nov 2011 08:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</guid>
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<item>
<title><![CDATA[RNS press release - Asterand Reaches Milestone for Ono Drug Discovery ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 30 Nov 2011 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</guid>
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<title><![CDATA[News - Asterand extends sale process deadline ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ]]></description>
<pubDate>Fri, 18 Nov 2011 07:28:00 +0000</pubDate>
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"title" => "News - Asterand nearing sale of tissue subsdiary",
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<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
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<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
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<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
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"title" => "News - Asterand to sell BioSeek and other main business separately",
"pubdate" => "2012-04-30 09:51:00",
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"description" => "<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ",
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"description" => "28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times",
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"title" => "News - Asterand still confident of sale but says will take longer to complete",
"pubdate" => "2012-03-06 07:23:00",
"seftitle" => "asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html",
"description" => "<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ",
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"title" => "RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration",
"pubdate" => "2012-01-30 14:30:00",
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"pubdate" => "2012-01-05 07:30:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html"
),
array(
"id" => "120105atd0086v",
"title" => "RNS press release - Update on Formal Sale Process",
"pubdate" => "2012-01-05 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/"
),
array(
"id" => "36329",
"title" => "News - Asterand’s shares up almost 10 per cent after “research milestone” achieved",
"pubdate" => "2011-11-30 12:23:00",
"seftitle" => "asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html",
"description" => "<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html"
),
array(
"id" => "36308",
"title" => "News - Asterand subsidiary achieves “research milestone” with Japanese partner",
"pubdate" => "2011-11-30 08:11:00",
"seftitle" => "asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html",
"description" => "<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html"
),
array(
"id" => "111130atd0030t",
"title" => "RNS press release - Asterand Reaches Milestone for Ono Drug Discovery",
"pubdate" => "2011-11-30 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/"
),
array(
"id" => "35803",
"title" => "News - Asterand extends sale process deadline",
"pubdate" => "2011-11-18 07:28:00",
"seftitle" => "asterand-extends-sale-process-deadline-35803.html",
"description" => "<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html"
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<title><![CDATA[News - Asterand nearing sale of tissue subsdiary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.</p>
<p>Shareholders applauded the news with the shares up 37 per cent today.</p>
<p>It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”</p>
<p>It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.</p>
<p>In April, the company said it had been unable to find a single buyer for the business as a whole.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.</p>
<p>Revenue for the Tissue business improved, while BioSeek revenue reduced.</p>
<p>The sale of the Tissue business enable <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.</p>
<p>The group is also considering delisting after the disposal of the Tissue business in order to cut costs.</p>
<div><br /></div>
<p> </p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Fri, 18 May 2012 13:32:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43019/asterand-nearing-sale-of-tissue-subsdiary-43019.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Interim Management Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 18 May 2012 12:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120518atd6711d/</guid>
</item>
<item>
<title><![CDATA[News - Asterand exploring alternatives for sale of subsidary ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was making good progress with sale of the Tissue business.</p>
<p>On Monday, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.</p>
<p>It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”</p>
<p>Bioseek provides cell-based human disease models for drug discovery and development.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> acquired BioSeek in February 2010. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.</p>
<p>The share price dropped 18 per cent to 2.15 pence today.</p>
</p>
<p> </p> ]]></description>
<pubDate>Wed, 02 May 2012 15:54:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42285/asterand-exploring-alternatives-for-sale-of-subsidary-42285.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Disposals ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 02 May 2012 15:07:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120502atd5853c/</guid>
</item>
<item>
<title><![CDATA[News - Asterand to sell BioSeek and other main business separately ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</link>
<description><![CDATA[<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said it has signed letters of intent to sell each of the two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately.<br /><br />Assuming that definitive agreements are executed, the board expects to provide shareholders with details of the proposed transactions in the coming weeks, it told investors in its full-year results report. <br /><br />The company had initially put itself up for sale in October 2011, but has decided to sell the businesses separately. It is therefore no longer in an offer period.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said the likely process will be disposal of the assets of each of the two businesses and a solvent liquidation of the group to return cash to shareholders. <br /><br />Whilst the level of a liquidation dividend cannot definitely be determined at this time, the board's current estimation, based on the letters of interest from the buyers and the current share price, is that the maximum payout to shareholders is unlikely to show a significant premium to the share price as of the close of business on April 26 2012, which was just over 4.10 pence.<br /><br />Revenue for the non-BioSeek portions of the Tissue Based Solutions business, which had been volatile for most of the year, stabilised in the last quarter of 2011, providing an increased cashflow over the original estimates. <br /><br />The company therefore believes it will maintain adequate resources to continue in operational existence until the disposals are completed.<br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is currently in default of its Silicon Valley Bank and former shareholders of BioSeek loans. “We have been in communication with our lenders and they are in support of resolving the default status at the conclusion of this process.”<br /><br />For the full-year to end-December 2011, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> reported revenues of US$24.01 million, up from US$21.3 million a year earlier. The operating loss widened to US$4.54 million from US$2.1 million previously.</p> ]]></description>
<pubDate>Mon, 30 Apr 2012 09:51:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42114/asterand-to-sell-bioseek-and-other-main-business-separately-42114.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results Statement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120430atd2952c/</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[30.04.12: -1.25, (2.88) Press: Asterand fell after it announced it had called off the sale of the business. It has instead signed letters of intent to each of its two businesses, BioSeek and the non-BioSeek Tissue Based Solutions business, separately. This would lead to solvent liquidation of the group to return cash to shareholders. Source - Mail]]></description>
<pubDate>Mon, 30 Apr 2012 00:00:00 +0100</pubDate>
<guid></guid>
</item>
<item>
<title><![CDATA[RNS press release - Notification of Final Results 30 April 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 19 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120419atd6273b/</guid>
</item>
<item>
<title><![CDATA[News - Asterand lifted by news of extended BioSeek/Merck Serono collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) shares were lifted by news that its subsidiary BioSeek has renewed its collaboration with Germany’s Merck KgaA.<br /><br />At 9.04 am, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> was trading at 5.125 pence, up 7.8 per cent from yesterday’s close.<br /><br />BioSeek applies its proprietary BioMAP platform to predict drug responses in pre-clinical models.<br /><br />It has now signed a new, three-year collaboration agreement with Merck Serono, which expands the previous three-year agreement from 2009.<br /><br />Under the new research plan, BioSeek will expand the use of BioMAP to evaluate Merck Serono small molecule compounds and proteins across multiple therapeutic areas in support of target differentiation, lead selection and nomination of candidates for preclinical development at Merck Serono. <br /><br />BioMAP Systems are primary cell-based models of human disease biology, designed to replicate the intricate cell and pathway interactions as they are observed in human pharmacology and toxicology. <br /><br /><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale in October and is currently in advanced talks with a small number of preferred parties.</p> ]]></description>
<pubDate>Wed, 28 Mar 2012 09:08:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40834/asterand-lifted-by-news-of-extended-bioseekmerck-serono-collaboration-40834.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek Extends Collaboration with Merck Serono ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 28 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120328atd2161a/</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[28.03.12: +0.38, (5.13) Press: Asterand rose after its Bioseek subsidiary, the developer of a platform that predicts drug responses, renewed a collaboration with Merck of Germany.Asterand said this month that it remained in talks with potential bidders, having put itself up for sale in October.Source - Financial Times]]></description>
<pubDate>Wed, 28 Mar 2012 00:00:00 +0100</pubDate>
<guid></guid>
</item>
<item>
<title><![CDATA[News - Asterand still confident of sale but says will take longer to complete ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</link>
<description><![CDATA[<p> </p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.</p>
<p>It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants. </p>
<p>Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.</p>
<p>Today, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.</p>
<p>The sale process was previously extended in November last year and in January.</p>
<p> </p> ]]></description>
<pubDate>Tue, 06 Mar 2012 07:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/39809/asterand-still-confident-of-sale-but-says-will-take-longer-to-complete-39809.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 06 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120306atd6998y/</guid>
</item>
<item>
<title><![CDATA[RNS press release - BioSeek and US EPA Expand ToxCastT Collaboration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 30 Jan 2012 14:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120130atd3782w/</guid>
</item>
<item>
<title><![CDATA[News - Asterand extends deadline for potential takeover bids ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) this morning told investors that it has again extended its deadline for the potential acquirers to submit offers for the company.</p>
<p>It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.</p>
<p>A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> can potentially announce a recommended offer by the middle of February, the company said. </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> added that it continues to update its key creditors on the process and the developments to date.</p>
<p>The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.</p>
<p>Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. </p>
<p>Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.</p>
<p> </p> ]]></description>
<pubDate>Thu, 05 Jan 2012 07:30:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/37484/asterand-extends-deadline-for-potential-takeover-bids--37484.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Formal Sale Process ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 05 Jan 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120105atd0086v/</guid>
</item>
<item>
<title><![CDATA[News - Asterand’s shares up almost 10 per cent after “research milestone” achieved ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</link>
<description><![CDATA[<p>The company announced this morning that its BioSeek subsidiary has achieved a research milestone in a drug discovery collaboration with Japan’s Ono Pharmaceutical</p>]]></description>
<pubDate>Wed, 30 Nov 2011 12:23:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36329/asterands-shares-up-almost-10-per-cent-after-research-milestone-achieved-36329.html</guid>
</item>
<item>
<title><![CDATA[News - Asterand subsidiary achieves “research milestone” with Japanese partner ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.</p>
<p>BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.</p>
<p>Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.</p>
<p>“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”</p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Wed, 30 Nov 2011 08:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/36308/asterand-subsidiary-achieves-research-milestone-with-japanese-partner-36308.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Asterand Reaches Milestone for Ono Drug Discovery ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 30 Nov 2011 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111130atd0030t/</guid>
</item>
<item>
<title><![CDATA[News - Asterand extends sale process deadline ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</link>
<description><![CDATA[<p>
<p>Human tissue specialist <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a> (<a href="/companies/overview/8743/asterand-8743.html" class="companyPopupTrigger" rel="8743">LON:ATD</a>) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.</p>
<p>Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.</p>
<p>The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.</p>
<p>At the end of August <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.</p>
<p>Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, <a href="http://www.proactiveinvestors.co.uk/companies/overview/8743/Asterand" class="companyPopupTrigger" rel="8743">Asterand</a>’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.</p>
<p>Overall, the firm expects group revenues for 2011 to exceed those for 2010.</p>
<p> </p>
</p> ]]></description>
<pubDate>Fri, 18 Nov 2011 07:28:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/35803/asterand-extends-sale-process-deadline-35803.html</guid>
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Human tissue specialist Asterand (LON:ATD) said it expects to ask for shareholder approval for the sale of its non-BioSeek Tissue Based Solutions business in the next few weeks.
Shareholders applauded the news with the shares up 37 per cent today.
It is also considering options for its other subsidary, BioSeek which provides cell-based human disease models for drug discovery.
Asterand said: “The board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand-alone basis or the sale of the business after the potential disposal of the Tissue business.”
It also said it is managing its cash flow carefully so that it will have the necessary funds to complete a transaction for the Tissue business.
In April, the company said it had been unable to find a single buyer for the business as a whole.
Asterand said that despite ‘volatile’ trading conditions and the distractions of the sales processes, revenue remained flat overall in the period to 31 March.
Revenue for the Tissue business improved, while BioSeek revenue reduced.
The sale of the Tissue business enable Asterand to repay its creditors but additional funding would need to be sought to keep the BioSeek business going or if it needs funds for its sale.
The group is also considering delisting after the disposal of the Tissue business in order to cut costs.
]]>
Human tissue specialist Asterand (LON:ATD) said it is ‘exploring a number of alternatives’ after the potential bidder for its BioSeek business dropped out today.
Asterand said it was making good progress with sale of the Tissue business.
On Monday, Asterand said it had signed letters of intent to sell each of its two businesses, BioSeek and non-BioSeek Tissue Based Solutions, separately. The company initially put itself up for sale in October 2011.
It added today: “The board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.”
Bioseek provides cell-based human disease models for drug discovery and development.
Asterand acquired BioSeek in February 2010. Asterand is a global supplier of human tissue and human tissue-based research services to drug discovery scientists.
The share price dropped 18 per cent to 2.15 pence today.
]]>
Human tissue specialist Asterand (LON:ATD) said today it was still confident talks with potential bidders would result in a deal despite several deadlines passing.
Asterand, which put itself up for sale in October, added that after several months of talks it has narrowed the field to a small number of preferred parties and is now in advanced negotiations with these groups.
It said it was not possible to conclude an agreement in February because of the complex nature of some of the discussions, but it remains confident that a transaction will be completed, albeit in a longer timescale than previously envisaged.
Asterand put itself up for sale after receiving notices of default from two of its creditors last year after trading conditions worsened and it was in danger of breaching bank covenants.
Business subsequently picked up towards the end of 2011 with revenues for the twelve months expected to exceed 2010.
Today, Asterand said it was in a constructive dialogue with the two creditors and continues to receive their support during the sale process.
The sale process was previously extended in November last year and in January.
]]>
It said that it has received strong interest from a number of parties but it was not possible to conclude talks prior to the Christmas break.
A new deadline of January 17 has now been set. This gives the interested parties almost two weeks to submit their proposed offers so that Asterand can potentially announce a recommended offer by the middle of February, the company said.
Asterand added that it continues to update its key creditors on the process and the developments to date.
The company was originally put up for sale in October, after it revealed in August that it would be in breach of its funding covenants in the near future. It has also explored its funding options in recent months.
Operationally the business has revealed positive news in recent months with a significant contract extension with America’s National Cancer Institute (NCI) in November. It has also achieved a research milestone in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.
The BioSeek subsidiary is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono.
Under the three-year agreement BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration.
]]>
Human tissue specialist Asterand (LON:ATD) announced today that its BioSeek subsidiary has achieved a “research milestone” in its drug discovery collaboration with Japanese pharmaceutical firm Ono Pharmaceutical.
BioSeek is applying its BioMAP platform to perform a number of tasks on a drug discovery target selected by Ono. These tasks include phenotypic screening, hit identification, lead optimisation and clinical candidate selection.
Under the three-year agreement with Ono, BioSeek is receiving research funding and is eligible to receive success payments based on the research-phase progress of this collaboration and further milestone payments based on the clinical development-phase progress of a drug candidate discovered under this collaboration. Ono will have worldwide rights to develop and sell all pharmaceutical products discovered through the collaboration.
“We highly value our relationship with Ono since it enables us to take full advantage of BioMAP'’s power to discover and develop innovative new drug candidates,” said Jack Davis, Asterand’s chairman and chief executive officer. “We are looking forward to the successful continuation and further achievements of the collaboration.”
Asterand is a supplier of high-quality human tissue and tissue-based services. It takes a “comprehensive approach” to human tissue and associated research services, which it says offers pharmaceutical, biotech and diagnostic companies a “unique opportunity” to have one company meet all of their human biomaterial needs.
Human tissue specialist Asterand (LON:ATD) announced this morning that it believes it now has sufficient cash to last the company into early 2012, after its board reviewed cash flow projections and consulted creditors.
Previously, on October 24, the firm had said that it had begun a formal sale process with the intention of targeting the second half of this month to determine a potential offer for the business. Asterand’s board has now decided to extend the timeframe to allow potential bidders more time to carry out due diligence prior to considering whether to make an offer.
The revised timetable includes a period between November 28 and December 16 in which potential bidders can conduct site visits. January 5 is the deadline for submission of possible offer terms by potential bidders, while February 6 will be the deadline for an announcement of the result of the formal sales process.
At the end of August Asterand, which supplies human tissue and human tissue-based services to pharmaceutical and biotechnology companies, said in an interim management statement that volatile trading conditions had led to a reduced outlook for the year and that further funding would be required since the company was in breach of its banking covenants.
Today, the firm issued a further interim management statement in which it said that trading conditions had improved recently and that it expects tissue revenues to be in line with last year. Meanwhile, Asterand’s BioSeek business has consolidated its trading during the second half after achieving strong growth in H1 2011.
Overall, the firm expects group revenues for 2011 to exceed those for 2010.
]]>