LONDON (ShareCast) - Biotechnology group Proteome Sciences is facing sales delays that will push revenue from some deals into next year, hitting its shares.

Proteome, which carries out research into protein and peptide biomarkers to treat neurological conditions and other illnesses such as cancer, said the timing and revenue from a number of contracts expected in the fourth quarter had been delayed and was now projected to fall into 2014.

The group said, however, that it had made good progress with its SysQuant product. It said 2013 revenue was expected to rise significantly over 2012, driven by increased demand for PS Biomarker Services, SysQuant pilot studies and a contract with Thermo Fisher Scientific.

Proteome added: "Our pipeline and the level of interest continue to grow as customers shift to large-scale projects following the successful pilot studies already completed.

"Our core activities are performing well and we remain confident about our prospects."

Shares fell 1.75p to 32p at 10:40 in London.

PW

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