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Maelor has sufficient cash left
Thu, 02 Sep, 2010
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Maelor has sufficient cash left
Thu, 1 Jun 2006, 11:02:00
<b>Maelor</b>, the medical products developer, reassured that it has enough cash to see it through to profitability as it produced another loss for the year.<br /><br />The group delivered a pre-tax loss of £570,000 for the year to March from a loss of £814,000 a year earlier. Turnover went up 13% to £1.86m. Maelor's cash balance reduced to £1.30m in the period from £1.47m last year.<br /><br />"The company's cash position remains sound and the board is confident that it has sufficient funds with which to achieve profitability," added Maelor.<br /><br />Maelor also announced today a licensing agreement with Plethora Solutions for its micelle nanotechnology drug delivery system for use in treating interstitial cystitis and painful bladder syndrome.<br /><br />CEO Tim Wright said, "We have developed a clear strategy for the Company which is already delivering positive results. We are achieving sales growth from both Volplex and Optiflo and have leveraged our micelle technology through an agreement with Plethora".<br /><br />
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