Entelos, Inc. (LSE:ENTL), today is updating the market ahead of its pre-close period for the six-month period ended 30 June 2008.
Trading has been in line with management expectations. The Company has good contract visibility and has approximately 70% of its 2008 annual revenue expectation under contract as at 30 June 2008. Cash, investments, and accounts receivable totaled $8.5 million as at 30 June 2008 versus $5.7 million at the end of the same period one year ago.
Since its preliminary results report on 16 April, Entelos entered a new multi-million dollar research contract focused on cardiovascular risk reduction, joined a three-year consortium funded by Pfizer to find new targets in diabetes and obesity, and entered into an agreement with Eli Lilly to conduct in silico research in diabetes with the Entelos Metabolism PhysioLab®. Lilly also exercised its option to purchase a perpetual license to Entelos’ proprietary DrugMatrix® database, the world’s largest reference database linking gene expression profiles of over 630 drugs to results from traditional preclinical pharmacology, safety, and toxicity tests. Separately, the Company was recently granted a new U.S. patent for a liver toxicity screening test derived from DrugMatrix.
Entelos’ in silico R&D and toxicology services, which include clinical trial simulations and predictive “virtual patient populations”, help to lower the risk, time, and cost of drug R&D by strategically selecting optimal doses, patient types, clinical trial designs and drug combinations that are both effective and safe.
In addition, the Company continues to strengthen its global business development capability and to broaden its technology applications to other health-related markets such as consumer products and personalized medicine.

  http://www.entelos.com/newsReleases.php?ID=press128