DCSIMG

Angel Biotechnology firm on the brink

A biotech firm has called in administrators after suffering cash flow difficulties.

Penicuik-based Angel Biotechnology said it had been forced to take the step after talks with an overseas consortium over a strategic partnership broke down.

Administrators at KPMG said they were assessing Angel’s finances with a view to finding a buyer. All 22 staff at the company have been retained for the time being.

Angel manufactures and supplies clinically-based bio-materials for biotechnology and pharmaceutical firms.

 

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