Directors at Yorkshire life sciences company Aptamer Group said the business is now starting to deliver “strong and sustainable commercial momentum” in its half year results.
The York group, launched on AIM four years ago to capitalise on the potential of its optimer binder technology, has issued interim results for the last six months of 2024 showing revenues more than doubled from £300,000 to £700,000, while it also narrowed its operating loss from £1.87m to £1.18m.
During the period it carried out a successful fundraising of £2.6m, and it also completed a further reduction of its fixed cost base to around £3m a year. It also highlighted a strong sales pipeline valued at £5.1m, with £3.2m of that sum in advanced negotiations, on the back of it signing new contracts with global pharma firms, including the likes of Unilever.
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At the period end, Aptamer had cash reserves of £2m, up from £1.8m, which it said it supporting the group’s ability to execute its strategic plans. Highlights included the extension of its contract with Unilever to enable testing of deodorant optimers in on-person trials, and it also struck an agreement with AstraZeneca in July.
Meanwhile, working with Neuro-Bio, Aptamer has developed optimer binders to a novel Alzheimer’s disease biomarker, to enable a diagnostic test for early-stage Alzheimer’s disease.
Dr Arron Tolley, CEO of Aptamer Group, said: “I am pleased to report significant milestones across each of the Group’s asset development programmes. This includes the initiation of human skin trials with Unilever for our optimer deodorant additives. We have also validated our binders for Alzheimer’s disease diagnostics with clinical samples with solid results.
"The Group’s internal focus on drug delivery is moving forward at pace with success in lab-based tests for our fibrotic liver delivery vehicle with AstraZeneca and other internal validation work using the same delivery vehicle, such as reversal of fibrosis markers using a different siRNA. These advancements reinforce the power of Aptamer’s platform and the Group’s ability to deliver commercially valuable molecules across a range of different areas.
“Our fee-for-service pipeline has delivered success across multiple customer projects, creating additional valuable assets within the enzyme modulating reagent sector, where licensing discussions are currently under way. Furthermore, a second validated therapeutic delivery vehicle is now in the final stage of commercial development.
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"These assets will add to Aptamer’s current portfolio, supporting downstream revenues and further demonstrating the strength of the group’s discovery platforms. We are focusing on the commercial exploitation of numerous assets from a licensing perspective, which exemplifies the potential value of the group’s platform and its progression towards generating passive income streams.
“In addition to technical progress, Aptamer is beginning to deliver strong and sustainable commercial momentum, signing multiple new contracts with global market-leading pharmaceutical companies, many of which represent repeat business. With a solid cash position and an advanced-stage sales pipeline, we are well-positioned to continue executing the Group’s strategy, advancing assets towards commercialisation with partners, and delivering shareholder value.”