9 December Deadline for Ateronon Firm

LONDON, November 21, 2011 -

Cambridge Theranostics’ liquidators have set a deadline of 9 December for offers for the company’s business, which includes the intellectual property of its principal product, Ateronon.

Launched as a dietary supplement in June 2009, Ateronon has been widely available through well-known high street and internet retail brands. The tomato pill contains an active ingredient from the Mediterranean diet - lycopene - that, it is claimed, inhibits LDL cholesterol oxidation and can therefore stave off heart disease and strokes.

Following financial difficulties, the High Court issued a winding up order against Cambridge Theranostics Limited (CTL) last month and Phillip Sykes and Emma Sayers of Moore Stephens were appointed liquidators on 31 October.

Phillip Sykes said that he was looking to achieve a quick sale of CTL’s business, “CTL has invested over £10m in developing Ateronon and this is a tremendous opportunity for a purchaser to acquire the intellectual property”.

“There has been significant media interest in the reasons behind CTL’s demise and we will be working with creditors to establish the facts”, added Mr Sykes.

Further information

Phillip Sykes
M: +44(0)7887-626236
E: phillip.sykes@moorestephens.com

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