Aptamer Group reports progress in Optimer development

YORK, UK - Aptamer Group plc (AIM: APTA), a developer specializing in Optimer® binders for the life sciences sector, has released its full fiscal year results, highlighting strategic advances and partnerships aimed at licensing its Optimer assets. The company reported a revenue of £0.9 million for the period ending June 30, 2024, with a notable increase in commercial activity in the latter half of the financial year.

Aptamer Group has been actively restructuring, including board changes and cost reductions, to streamline the delivery of its strategic objectives. The last quarter saw the company win £1.0 million in orders, reflecting a rebuilt commercial pipeline and renewed momentum.

Key developments during the year included increased engagement with a top five pharmaceutical partner for licensing critical reagents and collaboration with Unilever (LON:ULVR ) to test Optimer in deodorants. Additionally, the company advanced its Optimer development for an early Alzheimer's disease lateral flow test and collaborated with AstraZeneca (NASDAQ:AZN ) on a fibrotic liver delivery vehicle.

Financially, the company has improved its cash balance to £0.9 million from £0.2 million in the previous year and reduced its adjusted EBITDA loss to £2.8 million from £4.7 million. Administration expenses were also cut down to £3.2 million from £5.0 million. The firm raised £3.5 million net proceeds from equity offerings in late 2023 and an additional £2.6 million post-period in August 2024.

Post-period activities have seen the completion of an Optimer delivery vehicle for a genetic medicines biotechnology company, with the potential for future licensing. The company also developed Optimer binders for a new prenatal diagnostic platform and has ongoing contracts potentially worth £0.9 million.

CEO Arron Tolley emphasized the company's focus on asset development, commercial traction, and cost discipline. He highlighted the technical advancements in immunohistochemistry and gene therapy delivery, which have spurred commercial interest and collaborations with top pharmaceutical companies.

The report indicates that Aptamer Group is positioning itself for future growth through its strategic focus on developing and licensing its Optimer technology, supported by a disciplined approach to cost management. This information is based on a press release statement from Aptamer Group plc.

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Source: Investing.com