Aptamer Group win four new contracts
Aptamer Group plc, the developer of novel Optimer® binders to enable innovation in the life sciences industry, today provides an update on recent contract wins amounting to up to £507,000 over the next six months.
The Company is pleased to be able to report four new contacts signed in the last three weeks. All four contracts relate to FY24 and were included in the pipeline set out in the trading update announced on 4 July 2023, and represent an important early contribution towards reaching the Company’s revenue targets for the year ending 30 June 2024. The combined value of up to £507,000 represents total contract value, and the final value to be recognised as revenue will be subject to scientific attrition as the contracts progress.
· The first contract is with a top ten pharmaceutical company that requires Optimer binders to support a bioprocessing application. As part of this agreement, Aptamer Group will develop Optimer binders to enable new methods to purify gene therapies. Following successful Optimer development and customer validation, there is potential for additional downstream licensing revenue.
· The second contract is to support a US-based gene therapy company with Optimer binders to a key target in neurodegenerative disease. Aptamer Group will develop Optimer binders to enable reliable measurements of a disease biomarker in the Company’s research immunoassays. The Optimer binders will be used with an antibody in a sandwich pair format to advance neuroscience disease research.
· The third contract is with a US-based genetic medicine company to generate Optimer binders for two viral targets. The developed Optimer binders will be critical reagents in QC assays to enable batch release of new medicines. Following the successful development of the Optimer binders, there is potential for further downstream licensing revenue should the binders be integrated into the Company’s processes.
· The final contract signed is a follow-on deal with a US-based vaccine development company. Following initial positive results in an earlier project, as part of a new agreement, Aptamer Group will develop Optimer binders to viral targets to improve the selectivity and enable multiplex analysis in QC assays. Again upon successful customer validation of the developed Optimer binders, there is potential for further downstream licensing revenue if the binders are used as critical reagents within the intended assays.