ANGEL Biotechnology said a European ruling that will limit work on stem cells derived from human embryos should have little impact on its growth.
The European Court of Justice ruled last week that patents would not be granted on stem cells removed from human embryos if the embryos are destroyed in the process.
The ruling was described by a bioethics body as a “triumph of ethical standards over commercial interest”.
It sparked fears that some biotechnology firms could shelve research projects involving stem cells derived from human embryos because they would not be able to protect the results in Europe.
Edinburgh-based Angel Biotechnology is working on projects involving stem cells for firms involved in the development of medical products.
However, the company said: “The majority of the cell-based work currently going on at Angel and the work that the company is seeking to secure in the future is either based on adult stem cells or cell programmes where the patients’ own cells are used for the clinical procedure.”
Asked by The Herald what Angel meant by “majority”, the company’s executive chairman, Dr Paul Harper, said Angel has never worked on embryonic stem cells.
“I am not saying that we would not: there’s no ethical issue for us. It’s not come up in the programmes we are talking to clients about,” he said.
In a statement issued by Angel, Dr Harper said: “We believe the significant mar- ket opportunity for the cell therapy services we offer will be derived in North America and this will not be affected by this ruling.”
Aim-listed Angel added that, while it sees the development of cell therapy services as a key part of its growth strategy, the bulk of its revenues comes from non-cell therapy work.
These include the production of proteins for use in clinical trials.
Dr Harper said cell therapy work accounts for around 25% of revenues.
The company said the EU court ruling would have no impact on its plans to develop a production facility in Cramlington, north-east England.
The centre will give Angel much greater capacity to create products for clients. It will also allow the firm to bid for bigger contracts.
The facility is expected to open in the first quarter of 2012.
In the six months to June, Angel Biotechnology recorded revenues of £1.4m, in line with the same period last year.
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