29th Feb 2016 10:01
LONDON (Alliance News) - Proteome Sciences PLC said Monday it had seen a strong start to 2016, with an increased capacity for production and more repeat business meaning it should report a larger revenue at the end of the year.
The biotechnology firm said the addition of a further Fusion mass spectrometer in the last quarter of 2015 had doubled levels of production for its SysQuant assay tool and Tandem Mass Tag calibrator, meaning four customer projects had already been completed in 2016 and the volume of customer enquiries rising on a monthly basis.
Proteome said demand for its Tandem Mass Tag system showed good growth in 2015, and the product is expected to continue to increase market share in 2016, whilst also benefiting from the introduction of higher plexing rates over the year.
Proteome added it was also gaining more repeat business, with two service contracts signed since the start of the year for a total of GBP500,000, with further contracts being discussed.
The group said it was on track to deliver a significant increase in revenue by the end of 2016 from its biomarker services and Tandem Mass Tag system, as well as from the signing of more contracts.
Shares in Proteome were up 8.5% at 16.81 pence on Monday morning.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Proteome