Trading Update

Aptamer Group plc (AIM: APTA ), the developer of novel Optimer® binders to enable innovation in the life sciences industry, today announces a trading update.

Following fundraising in August 2023, Aptamer set out three strategic objectives: (1) to achieve EBITDA and cash break-even position within two years, (2) to implement platform process improvements, and (3) to generate marketing data and increase commercial traction by broadening the service offering to the market.

Aptamer remains firmly focussed on the first of these three objectives and is pleased to report progress on the second two objectives.

Since the announcement of the half year results, the Group has made significant progress in regarding its new platform technology, Optimer®+, through an initial soft launch and agreement of the first commercial sale.

Patents have been filed to protect the Optimer binders developed in partnership with Unilever for use in cosmetics applications to support ongoing commercial discussions between the two companies, with further testing underway. A follow-on deal has been signed with Neuro-Bio to develop a second Optimer binder to enable a wholly Optimer-powered lateral flow test for the early detection of Alzheimer's disease. Furthermore, the Group has made significant progress in the precision gene therapy space, demonstrating Optimer performance in lab-based tests as drug delivery vehicles specific to the cells associated with fibrotic liver disease and establishing chemical manufacturing methods for scaled test batches. These Optimer-conjugates are currently undergoing evaluation by a top 15 pharma partner, with additional negotiations underway with a major top 10 pharmaceutical company to explore the Optimer-conjugates as part of a proof-of-concept study.

The Group's current sales pipeline is strong, with over £3.0 million in advanced stage discussions. A proportion of these advanced stage deal negotiations is anticipated to progress through the laboratory before the end of the financial year. This anticipated deal value is in addition to the c.£1.4m of existing signed deals already at various stages of completion in the production laboratory. Revenue recognition on all signed deals is further subject to the receipt of target material in a timely manner from customers, and scientific attrition.

The Company continues to make strides in rebuilding the sales pipeline and revitalizing operations throughout the laboratory, leading to a growing pipeline conversion, including the successful acquisition of repeat business. The Company looks forward to providing further updates on conversion of the pipeline to contracts before the year end. Additionally, there is considerable potential for significant value delivery from ongoing activities in the drug delivery space, with a growing interest from various companies seeking to address the substantial unmet need in this field using Optimer and Optimer+ technologies.