Losses at medical technology company Alltracel Pharmaceuticals fell by 19 per cent to €1.5 million in the first six months of this year, the company said yesterday.

Alltracel, which produces treatments for open wounds and coronary disease, said yesterday it expects full-year sales to reach €21 million. First-half turnover jumped to €8.37 million in the six months to the end of June from €2 million during the same period last year.

A contribution from Wetstone, which it bought for €8 million during the period, and new sales contracts with European and British retailers, drove the increase in sales.

The company said losses before interest and tax in the period were €1.48 million, 19 per cent below the €1.84 million deficit it reported for the first half of 2004.

During the period, the company agreed new distribution deals for its M-doc open wound treatment in Europe, the Middle East and Brazil. M-doc has also successfully completedtrials indicating it has longer-term coronary health benefits.

Chief executive Tony Richardson said: "Given the expansion in the second half, we are comfortable with a year-end revenue figure of €21 million."