Dublin-based Alltracel Pharmaceuticals narrowed losses in the first six months of the year and said it is on track to reach its revenue target for 2005.
The medical and health-care research company recorded a net operating loss €1.48 million, down from €1.84 million last year. Revenue rose to €8.37 million, in line with full-year revenue expectations of €21 million.
Alltracel chief executive Tony Richardson said that as a result of new marketing deals and strengthened research team, the company is confident of reaching its revenue target.
The company signed a number of cobranding deals with international partners for its patented mdoc wound care treatment.
Since the half-year reporting period Alltracel has signed a partnership agreement with the Yunnan Baiyao Group, China's largest consumer wound-care company, for the development and co-marketing of mdoc in China and other international markets.
