Dublin-based medical and health care research company Alltracel Pharmaceuticals plc said full-year revenue will exceed its expectations after a positive start to 2005.

The company, which specialises in oral care and cholesterol-control devices, said revenue in the first quarter reached €4.1 million, boosted by distribution agreements with high-street retailers such as Tesco plc in the UK and Wal-Mart in the US.

"Overall we are very pleased with this strong start to the year," said Tony Richardson, the company's chief executive.

"We remain comfortable to exceed full-year revenue expectations of €€21 million."

Mr Richardson also said sales in the first quarter benefited from the company's January acquisition of London-based Westone Product Ltd, a supplier of dental and oral care products to Europe, the US and Asia.

Earlier this week, Alltracel - which is quoted on the Alternative Investment Market in London - reported a surge in 2004 revenue to €€4.6 million, compared with €€1 million in 2003.

The company is seeking to boost sales by signing up partners to sell its goods under their own brands. It now has 50 brands in 40 different countries.

Mr Richardson also said the company had made a "significant" breakthrough in understanding the coronary health benefits of its cholesterol product and will release the results of human trials next week.

Such a product is likely to see substantial demand as the public becomes more aware of the risks associated with high cholesterol and its links to heart disease.

Alltracel, founded in 1996, is a biopharmaceutical research and development company specialising in the control and manipulation of polysaccharides.