PPL cell unit to shut down

By THIS IS MONEY
Updated:

 

PPL, creator of Dolly the Sheep, is to close down its stem-cell programme after failing to find a buyer. But talks to sell the xenotransplantation unit, which recently bred a litter of gene-altered piglets with organs suitable for humans, are ongoing and a disposal is expected by the company before the end of the year.

PPL is streamlining its research capabilities to focus on areas that are more likely to result in profits than headlines. It said today that work on drugs to treat emphysema had reduced sufficiently the development risk that had emerged earlier this year. It confirmed a launch date for an aerosol treatment in 2007 while its fibrin sealant technology should be ready for market in 2005.

Losses in the first six months of the year were £1m less than in 2001 at £6.39m. At the end of the first half, on 30 June PPL had £21.3m in the bank.

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