Aptamer reports progress since July fundraise
By Josh White
Date: Friday 29 Nov 2024
(Sharecast News) - Aptamer Group, the developer of 'Optimer' binders for the life sciences industry, flagged solid operational progress in an update on Friday, reporting that since its £2.6m fundraising in July, it had achieved cost-reduction targets, streamlined scientific production, and executed a new commercial growth strategy.
The AIM-traded firm, which was holding its annual general meeting, said the efforts had enhanced its ability to deliver high-quality, optimised products to an expanding customer base.
It reported success in attracting major global pharmaceutical clients and building relationships with diagnostic, healthcare, and niche biotech partners.
Key milestones included developing a vertical market platform for fibrosis in collaboration with AstraZeneca, advancing a deodorant Optimer product toward human trials with Unilever, and producing an Optimer delivery conjugate for an undisclosed genetic medicines partner, now preparing for preclinical trials.
"Our increased commercial traction has secured newly signed contracts, currently up to the value of £0.47m, which will ensure that the group's cash runway remains generous, allowing any licensing opportunities to evolve and potentially crystalise over this extended period," said non-executive chairman Dr Adam Hargreaves.
"The board looks forward to updating shareholders on further progress in due course."
At 1154 GMT, shares in Aptamer Group were down 3.1% at 0.3p.
Reporting by Josh White for Sharecast.com.
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