REG - Aptamer Group PLC - Contract Wins

AptamerAnnouncement

07/07/2023 07:00

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RNS Number : 2680F  Aptamer Group PLC  07 July 2023

7 July 2023

 

Aptamer Group plc

 

Contract wins

 

Aptamer Group plc (AIM: APTA), the developer of novel Optimer(®) binders
to enable innovation in the life sciences industry, today provides an update
on recent contract wins amounting to up to £507,000 over the next six months.

 

After a difficult 12 months, the Company is pleased to be able to report four
new contacts signed in the last three weeks. All four contracts relate to FY24
and were included in the pipeline set out in the trading update announced on 4
July 2023, and represent an important early contribution towards reaching the
Company's revenue targets for the year ending 30 June 2024. The combined value
of up to £507,000 represents total contract value, and the final value to be
recognised as revenue will be subject to scientific attrition as the contracts
progress.

 

·      The first contract is with a top ten pharmaceutical company that
requires Optimer binders to support a bioprocessing application. As part of
this agreement, Aptamer Group will develop Optimer binders to enable new
methods to purify gene therapies. Following successful Optimer development and
customer validation, there is potential for additional downstream licensing
revenue.

 

·      The second contract is to support a US-based gene therapy company
with Optimer binders to a key target in neurodegenerative disease. Aptamer
Group will develop Optimer binders to enable reliable measurements of a
disease biomarker in the Company's research immunoassays. The Optimer binders
will be used with an antibody in a sandwich pair format to advance
neuroscience disease research.

 

·      The third contract is with a US-based genetic medicine company to
generate Optimer binders for two viral targets. The developed Optimer binders
will be critical reagents in QC assays to enable batch release of new
medicines. Following the successful development of the Optimer binders, there
is potential for further downstream licensing revenue should the binders be
integrated into the Company's processes.

 

·      The final contract signed is a follow-on deal with a US-based
vaccine development company. Following initial positive results in an earlier
project, as part of a new agreement, Aptamer Group will develop Optimer
binders to viral targets to improve the selectivity and enable multiplex
analysis in QC assays. Again upon successful customer validation of the
developed Optimer binders, there is potential for further downstream licensing
revenue if the binders are used as critical reagents within the intended
assays.

 

As noted in the trading update issued on 4 July 2024, the Group's unaudited
cash balance at the end of June was £0.2 million. In addition to trading
income, further funding will be required in the short-term in order to
continue as a going concern. The Directors are actively reviewing all possible
financing options that are in the best interests of the Company and its
shareholders and continue to take steps to carefully manage working capital.
Whilst the Board is aiming for a satisfactory outcome of the financing, there
can be no certainty that these discussions will be successful, nor as to the
terms or timing thereof.

 

- ENDS -

 

For further information, please contact:

 

 

 Aptamer Group plc                                                            +44 (0) 1904 217 404

 Dr Rob Quinn
 SPARK Advisory Partners Limited - Nominated Adviser                          +44 (0) 20 3368 3550

 Andrew Emmott / Mark Brady / Adam Dawes
 Liberum Capital Limited - Broker                                             +44 (0) 20 3100 2000

 Phil Walker / Richard Lindley / Ben Cryer / Cara Murphy
 Consilium Strategic Communications                                           +44 (0) 20 3709 5700

 Matthew Neal / Lucy Featherstone

 aptamergroup@consilium-comms.com (mailto:aptamergroup@consilium-comms.com)

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018.

About Aptamer Group plc

Aptamer (http://www.aptamergroup.com/)  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 through the use of its proprietary Optimer
platform.

Optimer binders are oligonucleotide affinity ligands that can function as an
antibody alternative. The global affinity ligand market is currently worth
over $170 billion. Optimer binders are engineered to address many of the
issues found with alternative affinity molecules, such as antibodies, and
offer new, innovative solutions to bioprocessing, diagnostic and
pharmaceutical scientists.

Aptamer has successfully delivered projects for global pharma companies,
diagnostic development companies, and research institutes covering a range of
targets and applications with the objective of establishing royalty-bearing
licenses. Through the unique Optimer technology and processes, scientists and
collaborators can make faster, more informed decisions that support discovery
and development across the Life Sciences.

 

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