3rd Jan 2025 12:02
(Alliance News) - Aptamer Group PLC on December 19 said it signed a new development contract with a rare disease biopharmaceutical company.
The York, England-based biotechnology firm providing Optimer binders for use in therapeutics, diagnostics, bioprocessing and research said the agreement is worth up to GBP155,000.
The deal focuses on developing two Optimer binders as critical reagents for therapeutic monitoring.
"Upon successful development, Aptamer could receive a significant undisclosed IP transfer fee for the use of the Optimers in clinical trial monitoring," the company highlights.
Chief Executive Officer Arron Tolley said: "This agreement further demonstrates our strategic model of leveraging fee-for-service revenue for the development of Optimer binders and potential licensing revenues. With a healthy pipeline and increasing traction among both new and repeat customers, we are demonstrating our commercial strategy."
In November, Aptamer said it secured new contracts worth up to GBP471,000, including two from top 20 and one from a top 5 global pharmaceutical companies.
In October, it reported its pretax loss narrowed to GBP3.1 million in the financial year ended June 30, from GBP8.3 million a year prior. Revenue fell to GBP860,000 from GBP1.8 million.
Cost of sales reduced to GBP610,000 from GBP1.4 million, while administrative expenses decreased to GBP3.2 million from GBP5.0 million.
At the time, Aptamer said it has identified up to around GBP600,000 in additional annual savings.
"The group expects to continue growing the fee-for-service development work, which is important in its objective of being self-sustaining. This work also acts as a horizon-scanning method with which the group can determine future potential high-value Optimer assets," the company said back in October.
Aptamer shares were down 3.3% at 0.35 pence each on Friday afternoon in London.
By Tom Budszus, Alliance News slot editor
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