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 six months ending 31 December 2024 (H1 25).
Trading update
The Company has made significant advances in its key asset development programmes which are targeted at longer-term and higher-value revenue opportunities as well as its short term fee-for-service work.
Unilever deodorant trials are on track
In partnership with Unilever, Aptamer continues to progress the development of Optimers as a novel active ingredient in deodorants. Trials of the binders with human skin samples were initiated on schedule during Q4 2024. Results from the initial tests at Aptamer showed the binders to be stable indicating suitability for use in personal care products. These tests are being replicated by Unilever and will move to on-person trials shortly.
Validation of Alzheimer’s biomarker in clinical samples
Optimer binders to Neuro-Bio’s innovative Alzheimer’s disease biomarker have demonstrated exceptional performance in biosensor assays on clinical samples. Our assay was validated with patient samples and revealed the highest 4-star level of statistically significant distinction between Alzheimer’s patients and healthy individuals (p<0.00001 or 1:100,000 probability of occurring by chance). Aptamer now has a robustly validated binder to this biomarker that is driving the development of two point-of-care diagnostic solutions in partnership with Neuro-Bio. This offers the potential for both in-clinic and at-home testing applications. Commercial terms are currently being negotiated on these highly valuable and novel assets.
Advancing therapeutic candidate delivery vehicles for the treatment of fibrotic liver disease
Development of the fibrotic liver delivery vehicle has demonstrated robust performance across multiple different siRNA payloads, all with anticipated gene silencing effects. This shows therapeutic potential for diverse treatment strategies in fibrotic liver disease. The collaboration with AstraZeneca, to examine the performance and versatility of this delivery vehicle has demonstrated the in vitro portion of the agreement, and both parties will now move towards assessing the performance in animal models of liver fibrosis.
Additionally, internal lab-based tests have demonstrated that when a specific siRNA, designed to interfere with the fibrosis pathway, is delivered using our technology, it can reverse markers of liver fibrosis, suggesting that a potential candidate therapeutic approach has been identified.
Fee-for-service work
Commercial progression has been significant with the following key highlights:
· Revenue – the Group’s unaudited revenue for the year’s first half was £0.7 million, representing significant growth compared with £0.3 million over the same period during the last financial year.
· Order intake – the Group has secured commercial contracts with a value of up to £0.7 million. Newly signed contracts over the first half of the financial year include five fee-for-service development projects with the top 20 pharmaceutical companies. Four of these secured contracts represent repeat business, highlighting the Group’s ongoing relationship with its blue-chip customer base. The Group is also progressing potentially lucrative licensing discussions with multiple customers regarding developed assets for a range of applications.
· Order book – at 31 December 2024, the Group had approximately £0.5 million of contracted work in preparation for processing through the laboratory, which the Group expects to recognise as revenue in the second half of the financial year.
· Sales pipeline – at 31 December 2024, the sales pipeline stands at £4.8 million, including £3.4 million in advanced negotiations. The Group anticipates converting a portion of this pipeline during the second half of the financial year, further enhancing our revenue outlook for the second half and into next year.
The Group continues to capitalise on the increased interest in its services and has the security of a significant cash runway. The commercial progression evident for H1 25 is expected to develop further, and revenue from the Company’s fee-for-service work is expected to continue to extend this cash runway until the Group ultimately becomes at least self-sustaining from this part of its operations.
Dr Arron Tolley, Chief Executive Officer of Aptamer Group, commented: “In the first half of the year, we have achieved significant commercial and technical progress across the Group. Our strategic assets have successfully advanced through key milestones such as moving into on-person deodorant studies with Unilever and our technology is validated to the highest level of statistical significance in clinical samples with Neuro-Bio.
On the therapeutic front, we have successfully demonstrated our fibrotic liver delivery vehicle with multiple siRNA payloads, underscoring its broad therapeutic potential. Additionally, our genetics medicine partner progressed another Optimer delivery vehicle Aptamer has developed to the final commercial stage following their successful internal validation. This continued success is enhancing our portfolio of assets and moving us incrementally closer to a value inflection point with licensing opportunities starting to come to fruition.
From a commercial perspective, revenue has improved substantially, and forward visibility is supported by a robust pipeline of projects which are advancing in our labs. Many of these are repeat business from major pharmaceutical clients, reinforcing and further validating the growing demand for our innovative technologies across the life sciences industry.”
