Oxonica Reports Financial Results for 2005
Commenting on the announcement, Dr. Kevin Matthews, CEO, said, "Oxonica made significant progress in 2005 towards building an international nanotechnology group with innovative products for the energy and personal care markets being commercialized. This, combined with the key strategic deals completed in the year, provides a strong foundation for growth in 2006 and beyond."
“Oxonica made significant progress in 2005 towards building an international nanotechnology group with innovative products for the energy and personal care markets being commercialized. This, combined with the key strategic deals completed in the year, provides a strong foundation for growth in 2006 and beyond.”
-- Turnover rose 219% to GBP 1,247,000 / US$2,171,209 (2004: GBP 391,000 / US$680,616)
-- Gross profit increased 134% to GBP 661,000 / US$1,150,190 (2004: GBP 282,000 / US$490,712)
-- Operating loss was GBP 4,398,000 / US$7,653,026 (2004: GBP 3,207,000 / US$5,580,767)
-- Successful commercial rollout and take-up of Envirox(TM) and Optisol(TM)
-- Raised GBP 9,869,000 / US$17,176,368 (net) during the year and admitted to AIM on 20 July 2005
-- Acquired Nanoplex Technologies Inc, a developer of biodiagnostic and security detection systems located in Mountain View, CA
-- Established key strategic relationships with Croda, Mitsui and Hanjoo
-- Oxonica is successfully establishing itself as an international multi-sector business
For full results, please see www.oxonica.com/investor/financial.htm
"While Oxonica remains a relatively early stage business," said C.M. Moore, Chairman of the Board of Oxonica, "the progress made in commercializing Envirox(TM) and Optisol(TM), means that its overall profile has improved considerably during the year. The roll-out of these products, the establishment of a strategic relationship with Croda and the acquisition of Nanoplex are all major milestones for the Group. Oxonica is now truly a multi-sector nanomaterials business. Based on the achievements in 2005, the Board is confident of continued revenue growth through 2006 and the achievement of further commercial milestones during the year."
About Oxonica plc -- www.oxonica.com
Oxonica (LSE:OXN) is one of the leading European nanomaterials groups with products already launched into international markets. It was spun-out from Oxford University in 1999 and currently employs 56 professional staff. Oxonica's mission is to focus on the development of innovative commercial solutions for international markets using its expertise in the design and application of nanomaterials. It owns a diverse portfolio of demand driven products that offer substantial benefits to the target markets of environmental, healthcare and materials.
The Group currently has three operating divisions: Oxonica Energy, Oxonica Healthcare and Oxonica Advanced Materials and is now establishing a fourth division, Oxonica Security. Oxonica has already launched products into international markets. Lead products include:
-- Envirox(TM) Fuel Borne Nanocatalyst -- a nanocatalyst improving fuel economy and reducing emissions
-- Optisol(TM) UV Absorber -- a revolutionary photostable UV protection system designed to optimise the performance of quality sunscreens and anti-premature aging products
Oxonica is also active in searching for the next generation of products and is already engaged in developing transformational detection technologies which will enable a new generation of ultrasensitive multiplex diagnostic tools for the clinical diagnostic life science and security markets. In addition, the company is developing other UV absorber technologies into polymer systems and coatings, based on similar technologies to that used in Optisol(TM).
Oxonica completed a GBP 2.6 million rights issue and employee fundraising (net of expenses) in February 2005. It then completed a GBP 7.1 million private placing (net of expenses) and its ordinary shares were admitted to trading on AIM on 20 July 2005. The admission to AIM has raised additional capital for the Group's development, improved its profile internationally with customers and suppliers and has assisted in the recruitment, retention and incentivisation of employees.
Envirox(TM) and Optisol(TM) are trademarks of Oxonica.