REG - Proteome Sciences - AGM Statement

Proteome SciencesAnnouncement

17/05/2023 07:17

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230517:nRSQ6438Za&default-theme=true

RNS Number : 6438Z  Proteome Sciences PLC  17 May 2023

17 May 2023

 

 

Proteome Sciences plc

("Proteome Sciences" or the "Company")

 

Annual General Meeting (AGM) Statement

 

At the Company's AGM being held today at 12.00 noon, the Chairman, Christopher
Pearce, will make the following statement:

 

"Proteome Sciences had a strong performance in the year ended 31 December 2022
with total revenue increasing by 52% to £7.78m (2021: £5.13m). Biomarker
services grew by 45% to £2.75m and TMT®/TMTpro™ revenues increased 56% to
£5.03m with adjusted EBITDA rising 79% to £2.43m. The cash position
increased by £1.6m to £3.99m. These results include the costs incurred for
the investment we have made in additional instrumentation and skilled
personnel in our workforce, to promote the strategic decision to introduce our
single cell proteomics ("SCP") platform in 2023 and to undertake the
development of new and complementary range of chemical tags to our
TMT®/TMTpro™ reagents. Both new offerings are expected to expand our growth
in revenue and recognition of our expertise in the marketplace.

 

The Board is confident that the progress over the recent years has created an
excellent platform for further development of the Group. Following the
investment made over the last two years, a strong order book, new projects,
high customer interest, our healthy cash position and recently announced
expansion into the US, the Group has a strong base for 2023 and beyond.
Proteome Sciences is well set to achieve a step-change in growth which gives
the Board increased confidence that the business can continue to significantly
grow revenue and EBITDA in the coming years."

 

 

For further information:

 Proteome Sciences plc
 Dr. Mariola Soehngen, Chief Executive Officer                           Tel: +44 (0)20 7043 2116

 Dr. Ian Pike, Chief Scientific Officer
 Richard Dennis, Chief Commercial Officer

 Abdelghani Omari, Chief Financial Officer

 Allenby Capital Limited (Nominated Adviser & Broker)
 John Depasquale / Jeremy Porter (Corporate Finance)                     Tel: +44 (0) 20 3328 5656

 Tony Quirke / Stefano Aquilino (Equity Sales & Corporate Broking)

 

About Proteome Sciences plc. (www.proteomics.com (http://www.proteomics.com/)
)

 

Proteome Sciences plc is a specialist provider of contract proteomics services
to enable drug discovery, development and biomarker identification, and
employs proprietary workflows for the optimum analysis of tissues, cells and
body fluids. SysQuant® and TMT®MS2 are unbiased methods for identifying and
contextualising new targets and defining mechanisms of biological activity,
while analysis using Super-Depletion and TMTcalibrator™ provides access to
over 8,500 circulating plasma proteins for the discovery of disease-related
biomarkers. Targeted assay development using mass spectrometry delivers high
sensitivity, interference-free biomarker analyses in situations where standard
ELISA assays are not available.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMAFMLTMTBBBAJ