Human tissue supplier Asterand (LON:ATD) today announced that chief executive officer Martyn Coombs has purchased a further 80,000 shares to increase his shareholding to 0.42%.
The acquisition price of 12.25 pence represents a premium of approximately 11.5% to yesterday’s closing price 0f 11 pence. Shares in Asterand rose 2.3% to 11.25 pence on the news this morning.
The shares acquired by Coombs account for 0.07% of the issued capital of the company, giving him a total of 484,764 or 0.42%.
The acquisition occurred yesterday, when Asterand issued a third quarter trading statement, which included a revenue increase of 30% year-on-year to US$5.4 million.
Overall Asterand has generated US$14.1 million in revenue in the first nine months of 2010, with US$3.8 million being contributed by the BioSeek business.
Asterand completed the BioSeek acquisition in February 2010, thus expanding its tissue supply business to include new contracted research capabilities. BioSeek’s proprietary drug profiling technology is used to assess new drugs as they are being developed.