* Phytopharm plc, of Godmanchester, U.K., reported interim financial results for the six months ended Feb. 28, 1998, showing losses almost doubled, at £2.1 million, compared with £1.1 million for the same period in 1997. Turnover rose from £9,000 to £29,000. R&D expenditure was up by 68 percent at £1.9 million and cash was halved at £4.2 million. The company said “the loss for the period and the cash position were within budget.“ During the six months Phytopharm, a botanicals specialist, began Phase II trials of P54 for osteoarthritis and P45 for alopecia. It also reported Phase III results of its treatment for refractory atopic eczema. CEO Richard Dixey said, “We continue to generate strong interest in our portfolio from major multinationals and are pursuing partnership discussions with a number of companies.“
* Proteus International plc, of Macclesfield, U.K., disclosed results for the fiscal year, ended March 31, 1998, showing a loss of £4.1 million, up from £3.8 million a year ago. The fall was due to lower income from milestone payments. Expenditure on R&D fell slightly to £4.5 million from £4.7 million. Proteus, a drug discovery company, reported cash of £3.3 million at the year's end, bolstered by a £7.6 million rights issue. The company's bovine spongiform encephalopathy, or mad cow disease, diagnostic is generating a “modest“ royalty income from the licensee, Enfer Scientific, of Dublin, Ireland, which has instituted a testing program on beef carcasses for the supermarket chain Supervalu. This is the first product using Proteus technology to reach the market.