LONDON (ShareCast) - Biotech group Proteome Sciences edged ahead after it revealed it expects revenue for 2013 to show “a significant increase” over 2012 thanks to strong performance across its core activities.

The firm is an expert in biomarkers, or biological markers, that can help predict the likelihood of cancer recurrence and to detect the early onset of Alzheimer's disease. In an update it said that the pipeline and level of interest in its biomarker services is continuing to grow in 2014, adding the growth reflects the shift from pilot studies to large scale programmes.

Proteome also revealed it has signed the terms and conditions outlining a biomarker services contract to process a large cohort of patient samples from which it aims to develop a companion diagnostic that could help predict which patients might respond to therapy, and thereby improve patient outcomes.

A pilot study as the prelude to a potential major contract in cancer has also been signed by the company and it is actively finalising a number of new biomarker services contracts with existing and new customers.

In addition Proteome is awaiting with “considerable interest” publication of the results from a large collaborative study with King's College, London. The 1,000 patient sample should reveal the performance of the biomarkers and their utility for early diagnosis, drug development and patient management in Alzheimer's disease.

The company expressed confidence about its prospects and expects to see this reflected through continued strong growth in news flow and revenue going forward.

Shares rose 6.03% to 30.75p at 11:12 on Friday.

KP

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