Executive Summary
Proteome Sciences (LON:PRM) is a biomarker research and development company and a global leader in applied proteomics using high sensitivity proprietary techniques to detect and characterise differentially expressed proteins in diseases for diagnostic, prognostic and therapeutic application. The company is based in Cobham, Surrey, UK and in Frankfurt, Germany and currently has approximately 40 staff. Incorporated in 1993, the company earned revenue of £1.3m in 2009, and it made an operating loss of £3.9m.
Company History
The company began in 1994 and since inception the company has discovered a large number of novel protein biomarkers in various human diseases. It has since established a wide portfolio of products/licensing from Intellectual Property which relates to protein expression. The company was admitted to AIM on 3rd October 1995.
Current Events
In July 2009 the group announced [1] a joint licensing agreement with Millipore Corporation (USA) (NYSE: MIL) to develop new products into the study of Alzheimer’s disease. Millipore will acquire the exclusive right to develop and sell Luminex bead-based panels for research related to the study of Alzheimer’s disease. The financial terms were not however disclosed.
Business Model
Products/Services
The company has three main areas of business, Biomarkers, Reagents and PS Biomarker Services.
- Biomarkers
In medicine, a biomarker is an indicator of a particular disease state or a particular state of an organism. The company identifies disease biomarkers, completes the validation stage and licences the product development stage to pharmaceutical and diagnostics companies. The company’s website lists a selection of applications for which it has completed the validation stage (15) of which 4 are licensed and a further 10 are described as available for licensing in the near to mid term. [2]
- Reagents
Proteome has developed the ‘Sensitizer® Family’ of reagents, and this division includes the TMT® isobaric mass tagging technology. This works like a car tracking system but to tag proteins and peptides to allow the measurement of changes in the relative abundance of the proteins to assist in the understanding and development of drug mechanisms.
- PS Biomarker Services
Re-branded from the previous ProteoSHOP® Services to clarify the market position of this offering on services, rather than the technology, this division offers rapid assay development and bespoke solutions to pharmaceutical and diagnostics companies. The division was awarded grants of €1.3m in 2008 which provide funding for research, but…
