Aptamer Group plc (LON:APTA), the developer of novel Optimer® binders to enable innovation in the life sciences industry, has announced a trading update for the year ending 30 June 2024.
Upturn in sales and order book as the year progressed
The unaudited revenue for the year was approximately £0.85 million with £0.55 million generated in the second half of the year. Following the lull in customer confidence caused by the acute funding problem in August 2023, confidence had to be rebuilt with customers which translated into the rebuilding of the sales pipeline. These efforts have led to increased revenues in the second half of the year and an encouraging rise in order book values. In the last quarter of the financial year, £0.98 million in orders were won which has resulted in a total of £1.8 million in signed orders currently being processed or awaiting processing in the laboratory.
In addition to the order book, we have a current pipeline of advanced sales negotiations totalling £2.1 million. Consequently, Aptamer Group is well-positioned moving into the new financial year, with ongoing work progressing through the lab and a robust sales pipeline.
Strong technical delivery across strategic assets
Over the year, Aptamer Group has made significant technical progress on the advancement of key Optimer assets:
· Optimer binders for Immunohistochemistry (IHC) are continuing to be evaluated by a top-five pharmaceutical company with the potential for licensing. The partner has demonstrated Optimer performance in IHC assays within its own laboratories and is expanding testing to new application areas.
· In partnership with Neuro-Bio, Aptamer Group is advancing the second phase of Optimer development for a rapid diagnostic test for early Alzheimer’s disease. Negotiations for downstream royalties, if successful, are under discussion.
· Following submission of a patent application in March for Optimer binders that are intended for the treatment of malodour, this work is continuing in Unilever’s labs, with on-person functionality studies planned for the second half of 2024. This project is anticipated to complete over the next two years, and if successful, could result in Aptamer licensing the Optimer binders to Unilever.
· Optimer-based delivery vehicles for precision medicines are being developed for fibrotic liver disease and are undergoing evaluation with a top 15 pharma partner. Based on the Company’s internal data the partner requested Aptamer manufacture test amounts of Optimer-siRNA conjugates for evaluation in their own laboratories, with the potential for licensing if successful. These data have generated substantial interest from several pharmaceutical and biotechnology companies, including AstraZeneca where we are also developing data using their siRNA for their internal evaluation.
The demonstration of the Optimer technology across a range of strategic assets exemplifies the Company’s focus on developing high-value solutions, which can be licenced to partners for downstream revenue.
Steve Hull, Executive Chair of Aptamer Group, said: “The trajectory of both sales and revenue shows increasing potential, putting Aptamer Group on a good footing for the forthcoming year. The team has worked hard to rebuild the pipeline in the past year, and it is pleasing to see we have achieved a continued increase in sales throughout the year, with £0.98 million sales orders signed in the final quarter alone showing this work is beginning to pay off for the Company. We have made excellent technical progress this year having focussed on key strategic assets. Successful work is ongoing with Unilever to deliver Optimers aimed for use in personal care products, and we have had high interest from multiple top pharma companies in our Optimer delivery vehicles for fibrotic liver disease. As we continue to progress these projects with our partners, the Company increases its potential to generate significant licensing revenue from these high-value assets.”
