7th Feb 2014 09:08
LONDON (Alliance News) - Shares in Proteome Sciences PLC rose in early trading Friday, after the protein biomarker company said revenue for 2013 will be significantly higher than the prior year, driven by a strong performance from all its core activities.
Proteome is engaged in research and development of, for example, techniques to predict the likelihood of cancer recurrence and to detect the early onset of Alzheimer's disease,
The group said since the year end, the pipeline and level of interest in biomarker services has continued to grow, reflecting the shift from pilot studies to large scale programmes.
"We have signed the term sheet for a biomarker services contract to process a large cohort of patient samples from which we aim to develop a companion diagnostic," the company said in a statement.
It said a pilot study as the prelude to a potential major contract in cancer has also been signed, and it is finalising a number of new biomarker services contracts with existing and new customers.
Last year the group conducted a study in partnership with the Kings College Hospital NHS Foundation Trust, which showed the discovery and validation of new protein biomarkers for patient stratification in liver cancer using its proteomic workflows.
It said it is now awaiting the publication of the results from a King's College, London 1,000 patient sample, showing the performance of the biomarkers and their utility for early diagnosis, drug development and patient management in Alzheimer's disease.
"We are confident about our prospects and expect to see this reflected through continued strong growth in news flow and revenue," it said.
Proteome Sciences shares were trading 14% higher at 33.20 pence per share on Friday morning, making them one of the biggest gainers on London's AIM.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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