Irish medical technology company Alltracel Pharmaceuticals expects to have its first profitable year in 2006.
The AIM-listed company - which operates in the wound care, oral care and cardiovascular health markets - reported fourth-quarter revenues of €5.7 million.
"Overall we are pleased with this quarter's progress on revenue growth, partnership signings, dental care product development and cardiovascular research and partnership progress," said Alltracel CEO Tony Richardson.
"We saw a solid quarter on quarter revenue increase throughout 2005 and we are looking at an exciting 2006 in which we see continued strong revenue growth driven by enterprise level deals already signed and to be signed."
During the fourth quarter Alltracel signed a number of significant partnerships for its m.doc platform in the Korean, Greek, Russian and UK markets. M.doc is used to stop bleeding and the company has recently developed prototypes for the technology in the oral care sector.
Alltracel has also found evidence that m.doc has cholesterol-lowering effects and is engaging in trials supported by Enterprise Ireland to determine its cardiovascular health benefits.