Update of Evocutis plc acquisition

RNS Number : 2453C

Venn Life Sciences Holdings PLC

13 March 2014

 



Venn Life Sciences Holdings Plc

("Venn" or the "Company")

Update on the Acquisition of the trading assets of Evocutis plc

Venn Life Sciences (AIM: VENN), a growing Clinical Research Organisation (CRO) providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces the following update on the acquisition of the intellectual property rights in Labskin™, SYN1113 and related equipment of Evocutis plc, for £210,000 in new ordinary shares in Venn.

Further to the announcement issued on 25 February 2014 the Company can confirm that Evocutis plc has announced that at the general meeting of its shareholders held today, all resolutions were duly passed.  As a consequence the Company will, subject to the satisfaction of the remaining conditions of completion of the acquisition, acquire:

·     intellectual property rights in SYN1113;

·     intellectual property rights in LabSkin™; and

·     certain equipment associated with the operation of SYN1113 and/or LabSkin™.

A further announcement will be made in due course.

Enquiries:

Venn Life Sciences Holdings Plc.
Tony Richardson, Chief Executive Officer	Tel: [phone]
Paul Foulger, Finance Director	Tel: [phone]
Orla McGuinness, Marketing Manager	Tel: [phone]
Zeus Capital (Nominated Adviser and Broker)
Ross Andrews/Andrew Jones (Corporate Finance)	Tel: [phone]
John Goold/Dominic Wilson/Alex Davies (Institutional Sales)		Tel: [phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

Additional Information:

About Venn Life Sciences Limited: www.vennlifesciences.com

Venn Life Sciences is a Clinical Research Organisation ("CRO") providing a suite of clinical trial management services to pharmaceutical, biotechnology and medical device organisations. With operations in France, Germany, Ireland, the Netherlands, Russia, the UK, and a branch office in Switzerland, the Venn Group also includes a Clinical Resourcing business placing experienced clinical teams and individuals on projects throughout Europe.  The company's near term objectives are the expansion of its CRO business throughout Europe, whilst enhancing the portfolio of their innovative technologies division, InnoVenn, with ground breaking new products and services.

About Evocutis: www.evocutis.com

Evocutis plc is a dermatology company offering a unique combination of contract research for laboratory testing, advanced skin models and clinical testing, they provide a complete service for the development of skincare products and ingredients, enabling customers to develop products which actually work.  

 

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