REG - Aptamer Group PLC - Trading Update

AptamerAnnouncement

13/05/2024 08:00

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RNS Number : 1321O  Aptamer Group PLC  13 May 2024

     13 May 2024

 

Aptamer Group plc

("Aptamer", the "Company" or the "Group")

Trading update

 

Aptamer Group plc (AIM: APTA ), the developer of novel Optimer(®) binders
to enable innovation in the life sciences industry, today announces a trading
update.

Following fundraising in August 2023, Aptamer set out three strategic
objectives: (1) to achieve EBITDA and cash break-even position within two
years, (2) to implement platform process improvements, and (3) to generate
marketing data and increase commercial traction by broadening the service
offering to the market.

Aptamer remains firmly focussed on the first of these three objectives and is
pleased to report progress on the second two objectives.

Since the announcement of the half year results, the Group has made
significant progress in regarding its new platform technology, Optimer(®)+,
through an initial soft launch and agreement of the first commercial sale.

Patents have been filed to protect the Optimer binders developed in
partnership with Unilever for use in cosmetics applications to support ongoing
commercial discussions between the two companies, with further testing
underway.  A follow-on deal has been signed with Neuro-Bio to develop a
second Optimer binder to enable a wholly Optimer-powered lateral flow test for
the early detection of Alzheimer's disease.  Furthermore, the Group has made
significant progress in the precision gene therapy space, demonstrating
Optimer performance in lab-based tests as drug delivery vehicles specific to
the cells associated with fibrotic liver disease and establishing chemical
manufacturing methods for scaled test batches.  These Optimer-conjugates are
currently undergoing evaluation by a top 15 pharma partner, with additional
negotiations underway with a major top 10 pharmaceutical company to explore
the Optimer-conjugates as part of a proof-of-concept study.

The Group's current sales pipeline is strong, with over £3.0 million in
advanced stage discussions.  A proportion of these advanced stage deal
negotiations is anticipated to progress through the laboratory before the end
of the financial year.  This anticipated deal value is in addition to the
c.£1.4m of existing signed deals already at various stages of completion in
the production laboratory.  Revenue recognition on all signed deals is
further subject to the receipt of target material in a timely manner from
customers, and scientific attrition.

The Company continues to make strides in rebuilding the sales pipeline and
revitalizing operations throughout the laboratory, leading to a growing
pipeline conversion, including the successful acquisition of repeat business.
 The Company looks forward to providing further updates on conversion of the
pipeline to contracts before the year end.  Additionally, there is
considerable potential for significant value delivery from ongoing activities
in the drug delivery space, with a growing interest from various companies
seeking to address the substantial unmet need in this field using Optimer and
Optimer+ technologies.

- ENDS -

 

For further information, please contact:

 

 

 Aptamer Group plc                                                +44 (0) 1904 217 404

 Steve Hull
 SPARK Advisory Partners Limited - Nominated Adviser              +44 (0) 20 3368 3550

 Andrew Emmott / Adam Dawes
 Turner Pope Investments (TPI) Limited - Broker                   +44 (0) 20 3657 0050

 James Pope / Andrew Thacker

 

About Aptamer Group plc

Aptamer Group   develops custom affinity binders through its proprietary
Optimer® platform to enable new approaches in therapeutics, diagnostics,
and research applications. The Company strives to deliver transformational
solutions that meet the needs of life science researchers and developers.

Optimer binders are oligonucleotide affinity ligands that can function as an
antibody alternative. The global affinity ligand market is currently worth
over $170 billion.

Aptamer has successfully delivered projects for a range of global pharma
companies, diagnostic development companies, and research institutes, covering
multiple application areas with the objective of establishing royalty-bearing
licenses.

 

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